The year 2011 started positively for the diamond industry; however, diamond prices started to plummet sharply later in the year, when the global economic outlook suddenly darkened – partly as a result of the unabating European sovereign crisis, which has left demand for luxury goods soft, while wary lenders are passing increased borrowing costs to cutters, who are heavily dependent on financing for their rough diamond inventory. Nonetheless, the medium- to long-term outlook for diamonds remains positive, with analysts forecasting that prices will gain by 3% in 2013, before rising by 5% to 7% in the following years as producers struggle to satisfy growing demand. This report discusses the world diamond market, with a particular emphasis on diamond-mining activities taking place in Southern Africa over the past 12 months, and provides information on key companies, operations and projects.

The report is a summary of information published in Creamer Media's Engineering News and Mining Weekly, as well as information available in the public domain and does not purport to provide analysis of market trends.

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