From Mine to Market: Where do diamonds come from?
Q: “So where do your diamonds come from?”
A: ” I don’t really know.”
This is a common question for many looking into purchasing diamond engagement rings and diamond jewelry. Where exactly does the diamond originate from? Many would be surprised to find out that all diamonds throughout the world come from a very finite source. Let’s take a closer look at where these magnificent diamonds are sourced.
ALL DIAMONDS ARE SOURCED FROM ONE OF TWO PLACES:
· African Sub Continent – Multi-national companies are handed rights to mine diamonds by the local government. The diamonds are mined from the mines and prepared to head onto the next stage in the diamond finishing process.
· Russia – Pro-government Russian companies are given the right to mine diamonds throughout Russia.
Q: After the raw diamonds are mined, where do they go?
Depending on where the diamond was originally mined, your diamond then heads to one of two places.
DIAMONDS MINED IN AFRICA TRAVEL TO DeBeers
DeBeers sorts all the stones and creates syndicate boxes to be distributed to diamond manufacturers worldwide; these companies referred to as “sight holders” have contracts with DeBeers that obligates them to purchase a yearly set quantity of diamonds. This process, often referred to as “the site,” happens 5-6x per year.
DIAMONDS MINED IN RUSSIA ENTER THE DIAMOND MANUFACTURERS MARKET
All rough diamonds sourced from Russia enter the Diamond Manufacturers market place through an action often referred to as “Tender.”
Q: After the diamonds are sorted and sold, what happens to them?
90% of the world’s diamonds then travel to China or India to be cut and polished. It takes 2-3 weeks for this process and then it is ready to be certified by one of the world’s gem laboratories. Now that the diamond is certified, it is ready to be sold from the diamond manufacturer to a select retailer.
Q: What makes the diamonds in my Ascot Diamonds piece different from others on the market from other retailers?
At Ascot Diamonds every diamond is scrutinized for brilliance, proportion and value before being offered to our clients; less than 5% of all diamonds produced meet the standards demanded by Ascot Diamonds.
Visit Ascotdiamonds.com to learn more.