(gjepc.org) - Despite coming off of a record 2021 for natural diamond demand, mined diamond supply for 2022 is expected to fall in line with that of last year. For context, Paul Zimnisky estimates that global natural diamond supply was approximately 117 million rough carats last year, with the same expected this year. This compares to as much as 140 million carats in 2019, over 150 million carats in 2017 and almost 180 million carats in 2005 – which is estimated to be the all-time-high watermark for production. This downtrend in supply can mostly be attributed to apathetic diamond prices last decade that in effect hindered appetite for new project exploration and development. Consequently, supply at legacy mines has fallen off in recent years while very limited new sources of diamonds have not been sufficient to offset the declines.
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