The diamond industry mines, trades, cuts and polishes diamonds for two distinct markets valued differently: gem grade diamonds used as jewelry and industrial grade diamonds used as abrasives for cutting hard materials. De Beers held a dominant position in the global market from 1888, and today major mining companies include Alrosa, Rio Tinto, BHP and Petra Diamonds. Rough and polished diamonds are traded through established centers including Antwerp, New York, Tel Aviv and Amsterdam, and diamond cutting and polishing form specialized industries of their own within the broader trade.
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SectorDiamond mining and trade 1 Diamond Industry
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Where are diamonds cut and traded?
Surat cut 92 percent of the world's diamonds in 2003; Antwerp and New York are other major centers.
Cutting and wholesale trade are concentrated in a few places. The source reports that in 2003, 92 percent of the world's diamonds were cut and polished in Surat, India. Other important centers of cutting and trading it names include the Antwerp diamond district in Belgium, London and the diamond district in New York City, where almost 80 percent of the world's diamonds are sold, including auction sales.
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Additional Source Wikipedia: Global Industry Classification StandardGICS: Precious Metals & Minerals
Sources
1. Wikipedia, Diamond
Wikipedialead sectionQuote, lead section
Diamond is a mineral form of the element carbon with its atoms arranged in a crystal structure called diamond cubic.
Wikipedia: Global Industry Classification Standard
WikipediaIn Sector: Materials, GICS: Precious Metals & MineralsView the Source Reader Challenges (0)
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