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De Beers’ Rough Diamond Market Share to Rise to 40 Percent
Jul. 09, 2014 04:30PM PST
Diamond InvestingPaul Zimnisky released a report on De Beers, commenting that while the diamond giant’s share of the rough diamond market has declined to about 35 percent in the last few decades, it’s set to increase when the Canada-based Gahcho Kue mine comes online in 2016 or 2017.
Paul Zimnisky released a report on De Beers, commenting that while the diamond giant’s share of the rough diamond market has declined to about 35 percent in the last few decades, it’s set to increase when the Canada-based Gahcho Kue mine comes online in 2016 or 2017.
Zimnisky explains:
Gahcho Kue is the world’s most anticipated new diamond mine, estimated to produce approximately 5 million carats annually which would make it the 7th largest diamond mine in the world in terms of value produced, and the 11th in the world in terms of carats produced, using 2014 estimates.
De Beers owns 51% of Gahcho Kue, and Canadian-based Mountain Province Diamonds (TSX:MPV) holds the other 49%. Using current estimates, the addition of Gahcho Kue production to De Beers mine portfolio would raise De Beers market share to 40% by 2018.