Petral Diamond explain why diamonds are so special?

 

 Petra Diamonds is a leading independent diamond mining company and listed on the Main Market of the London stock exchange (LSE) (‘PDL’). Petra Diamonds is the world 6th Diamonds producer in term of volume with 3% in 2016 of the Market but the 3rd in reserves and resources with five producing kimberlite mines in South Africa and Tanzania.
On 4 November 2017 The Chairman of Petra Diamonds Limited Mr Adonis Pouroulis released Publication of new presentation talk at the Gem-A Conference 2017 in London. His

presentation 'Why are Diamonds so special?
Regardless of its uniqueness characteristics of Diamonds but is the scarce commodities in the world with 100 times than Gold. Diamonds is the rarest commodity with less than 1% success rate in exploration and found only in kimberlite. Current 30 kimberlite mine are in production in the world.

Diamond production peaked at 177 million carats in 2005. Not expected to reach there again since no major discoveries in over 20 years. Several mines / development projects recent closed or are due to close soon Mr Pouroulis said in his presentation.

Although production continues to decline but demands for Diamonds grow stable. Demand driven by US and developed international markets. The trend to use Diamonds across a wide range of luxury goods, from watches and accessories to pens and digital devices also increase the demands.

Further the presentation explained the economic impact of Diamonds in the global. 10 million people globally are direct or indirect supported by the diamond industry. Diamonds led to the industrialisation of South Africa and account for 33% of the GDP and generates 76% of Botswana’s annual export earnings. Diamond mining generates over 40% of Namibia’s annual export earnings.