Countries with the largest diamond reserves 2020

As of 2020, Russia's natural diamond reserves were estimated to approximately 650 million carats. Thus, the Russian diamond reserves are largest worldwide. Almost half of the world’s mined diamonds are used for industrial purposes as rough diamonds. Industrial diamonds can be used in cutting, drilling, grinding, and polishing.

Diamond industry worldwide

Russia and the Botswana hold the world’s largest diamond reserves, totaling 650 million carats and 310 million carats, respectively, as of 2020. Based on production volume, Russia and Australia are the world’s largest producers. Russia mined 19 million carats of diamonds in 2020 and Australia produced 12 million carats during that year. The diamond industry is created from one of Africa’s largest natural resources, and the Democratic Republic of Congo is one of the top three global producers. Demand for rough diamonds is increasing worldwide, and is expected to reach some 292 million carats by 2050.

Diamond companies and the breakdown between industrial and gem-quality diamonds

Alrosa and De Beers share approximately half of the world’s diamond production. In 2018, Alrosa comprised 26 percent of the world’s production and De Beers totaled 25 percent. Almost half of the world’s mined diamonds are used for industrial purposes as rough diamonds. Industrial diamonds can be used in cutting, drilling, grinding, and polishing. Its value is apparent in the industrial sector due to its hardness, heat conductive material, and resistance to many acids and alkalis. Only about 20 percent of all diamonds are considered to be gem-quality polished.