5 essential truths about diamonds

1) Diamonds have existed longer than the presence of life on Earth, a true miracle of nature

Long before life manifested itself on Earth, there were diamonds. Most of them were created between 1 and 3 billion years ago; the youngest diamond ever discovered is over 100 million years old. Originating more than 300 km below the Earth's surface, they were pushed to the surface by volcanic eruptions 300 million to 400 million years ago, well before the time of the dinosaurs.

2) Diamonds are rare and getting rarer every day

The number of diamonds discovered peaked in 2005 and will decline significantly over the next few decades. Diamondiferous kimberlites, the ancient underground volcanic pipes that contain most of today's diamonds, have become very difficult to find. In fact, most diamonds today come from kimberlites discovered decades ago. As a result, diamond production is gradually decreasing and diamonds are becoming scarcer.

Annual diamond production

The volume corresponding to the annual production of diamonds of 1 carat and over is equivalent to the volume of two basketballs. This is one football for diamonds of 2 carats or more, and one tennis ball for diamonds of 5 carats or more.

3) The demand for diamonds has never been higher

The last few years have been the strongest for global diamond jewelry demand. The millennial generation accounts for 59% of the value of diamond jewelry demand, even though they represent only one quarter of the population. Research shows that millennials have a strong interest in authentic, rare and valuable products. A billion-year-old diamond is the ideal expression of authenticity in their lives and relationships. A real natural diamond has a deep emotional meaning in a world where everything has become increasingly fast-paced and artificial.

4) Conflict diamonds are a thing of the past

Conflict diamonds, as depicted in the 2006 film Blood Diamond, are now largely a thing of the past. Since then, many efforts have been made, African rebellions have receded and the industry has put in place strict controls (e.g., the Kimberley Process) to ensure that no diamonds from conflict zones are traded to finance war. As a result, 99.8% of diamonds are Kimberley Process compliant. In addition, all major producers have safeguards in place to ensure that their diamonds are produced in a responsible manner.

5) The diamond industry makes an important contribution to the world

The diamond sector employs 1.5 million artisanal miners in Africa and South America, who supply 15% of the world's diamonds and whose livelihoods depend on the demand for diamonds. The discovery of diamonds in Botswana transformed the country from one of the poorest in the world to a middle-income country. Today, all children in Botswana receive free schooling up to the age of 13, thanks to revenues from diamonds, which account for nearly one-third of Botswana's GDP. In the Indian state of Gujarat, the diamond industry employs about one million people and funds schools and hospitals.

Diamond mining has a very small environmental footprint and no chemicals are used to extract diamonds from the earth. Mining companies are closely monitored by governments and local communities. Many operations are working on projects to move to carbon neutral status. The carbon footprint of a one-carat polished natural diamond is smaller than that of most synthetic CVD diamonds of similar size.