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Diamond Supply and impact on Prices

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ice_is_nice

Rough_Rock
Joined
Jul 12, 2003
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39
I was reading an article in the Toronto Star
today which talks about the testing of an ore sampe from the Canadian Diavik mine. Apparently, one of the owners of the mine supplies Tiffany''s with some of the diamonds it sells.

In any event, the article states that there are for the Diavik Diamond Mine to produce as many as 8 million carats of diamonds a year. This is estimated to represent 5 per cent of the world''s diamond production. Does this represent significant increase in supply? Would this amount of additional capacity coming on stream be expected to have any impact on prices?

If you are interested, the article can be found at the following link:
http://www.torontostar.ca/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&call_pageid=971358637177&c=Article&cid=1058566209863
 
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