Australian Diamond Trade to Increase 36%

SMH reported Australia diamond exports are expected to rise as more gems make their way to India.

As quoted in the market news:

The growing Indian economy and Rio Tinto’s underground plans in Western Australia are behind an estimated 36 per cent jump in Australia’s diamond and gem mining revenue in the coming year.

Due to the changing fortunes of Australia’s largest diamond producer, research consultancy group IBIS World have forecast an industry revenue increase of to almost $600 million in 2012.

Click here to read the full SMH report.