In the rough: The Argyle mine's closure will significantly reduce industry diamond output

The Diamond and Gemstone Mining industry primarily produces and exports diamonds from Rio Tinto's Argyle mine in Western Australia. Industry players export cheaper unsorted diamonds and a limited number of rare coloured diamonds. Yellow and pink diamonds from the Kimberley region in Western Australia are Australia's most notable coloured diamonds, and sales of these high-end stones contribute disproportionately to industry revenue. In addition to diamonds, the industry includes companies that mine opals, sapphires and other gemstones.Industry revenue is expected to decline at an annualised 15.1% over the five years through 2019-20 to $387.7 million due to the gradual decommissioning of the Argyle mine in more.

Industry Statistics & Market Size
Annual Growth 15-20
Forecast Growth 20-25
Market Share of Companies

Industry Threats & Opportunities

  • Industry players export cheaper unsorted diamonds and a limited number of rare coloured diamonds
  • The industry is heavily export-oriented and operators depend on global demand for diamonds
  • The closure of the Argyle mine will cause industry revenue to fall significantly
  • Industry Report - Industry SWOT Analysis Chapter

    The Diamond and Gemstone Mining industry is in the decline stage of its economic life cycle. Industry value added is expected to decline at an annualised 29.1% over the ten years through 2024-25, in contrast to economic growth of 2.6% over the same period. The imminent closure of the Argyle diamond mine represents the closure of the largest industry establishment, and the only commercial operating diamond mine in Australia. Mining exploration has yet to discover new commercial diamond deposits, and the discovery of any deposit is expected to take at least a decade to bring to production. As a result, opals, sapphires, and other gemstones are expected to account for all industry revenue by 2024-25, and the industry is expected to significantly contract in terms of revenue and employment...purchase to read more.

    Additional Insights for the Diamond and Gemstone Mining Industry

    IBISWorld has determined the most important Key Success Factors for the Diamond and Gemstone Mining are:

  • Ability to find new resource deposits
  • Access to niche markets
  • Control of distribution arrangements
  • IBISWorld analysts also discuss how external factors such as Demand from glass wool, stone and non-metallic mineral product manufacturing and Demand from jewellery manufacturing in the Diamond and Gemstone Mining industry impact industry performance..

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    What's in this report

    What is the Diamond and Gemstone Mining Industry?

    Industry companies mine and quarry non-metallic minerals such as diamonds, opals, sapphires and other gemstones.

    Industry Products
  • Diamonds
  • Opals
  • Sapphires
  • Other gemstones
  • Industry Activities
  • Diamond mining
  • Jade mining
  • Opal mining
  • Sapphire mining
  • Chrysoprase mining
  • Kyanite mining
  • Other gemstone mining
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from glass wool, stone and non-metallic mineral product manufacturing
  • Demand from jewellery manufacturing
  • Demand from watch and jewellery retailing
  • GDP of mainland China
  • US dollars per Australian dollar

  • Current Performance
  • Revenue and production
  • Barrier to expansion
  • Other players
  • Downstream uses
  • Chart: Revenue Growth

  • Industry Outlook
  • Revenue and production
  • Global demand
  • Table: Diamond and Gemstone Mining Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Diamond and Gemstone Mining Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Glass Wool, Stone and Non-Metallic Mineral Product Manufacturing
  • Jewellery Manufacturing

  • Key Selling Industries
  • Contract Mining Services
  • Industrial and Agricultural Chemical Product Wholesaling
  • Mining and Construction Machinery Manufacturing
  • Petroleum Product Wholesaling

  • Products & Services
  • Diamonds
  • Other gemstones
  • Opals
  • Sapphires
  • Chart: Diamond and Gemstone Mining Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Overseas manufacturers
  • Overseas processors
  • Domestic manufacturers and processors
  • Chart: Major Market Segmentation for the Diamond and Gemstone Mining Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Diamond and Gemstone Mining

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Diamond and Gemstone Mining Industry

  • Industry Globalization
    Rio Tinto Plc - Rio Tinto Limited,
  • Table: Rio Tinto Plc - Rio Tinto Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Diamond and Gemstone Mining Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Diamond and Gemstone Mining Industry
  • Industry Revenue (2011-2025)
  • Industry Gross Product (2011-2025)
  • Establishments (2011-2025)
  • Businesses (2011-2025)
  • Employment (2011-2025)
  • Exports (2011-2025)
  • Imports (2011-2025)
  • Wages (2011-2025)
  • Wages (2011-2025)
  • Purchases (2011-2025)
  • Profit (2011-2025)
  • Depreciation (2011-2025)
  • Rent (2011-2025)
  • Utilities (2011-2025)
  • Other (2011-2025)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A gem that has been polished but not cut.
  • Carat
  • A measure of weight used for gemstones, equal to 200 milligrams.
  • Chrysoprase
  • A green gemstone that contains traces of nickel. Chrysoprase is also referred to as Australian jade.
  • Fancy Diamonds
  • Rare coloured diamonds, such as deep yellow and brown stones, and unusual colours such as blue, pink and green.
  • Kimberlite
  • A rare rock formation that sometimes contains diamonds.
  • Lamproite
  • A type of diamond-bearing ore that has a large volume of low-quality stones. The Argyle mine is a source of lamproite diamonds.
  • Pipe
  • A geological structure that contains diamond-bearing ore.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Diamond and Gemstone Mining market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    IBISWorld industry market research reports enable you to:
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    This report on Diamond and Gemstone Mining:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Diamond and Gemstone Mining market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Diamond and Gemstone Mining, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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