lesson six: digging up the earth diamonds and rare earths
TRANSCRIPT
Lesson Six: Digging up the Earth
Diamonds and Rare Earths
10 Million people globally are directly or indirectly supported by
the diamond industry
o Diamonds support millions of people globally – estimated to be10 million – from the countries they are sourced, to where they are polished and sold.
o In Namibia, the diamond mining industry is the largest single employer after the government.
o In Botswana around 25% of the labour force is directly or indirectly linked to diamonds.
o In India around 1 million people are employed in diamond industry.
The Diamond Mining industry generates over 40% of
Namibia’s annual export earning
o Diamonds support millions of people globally – estimated to be10 million – from the countries they are sourced, to where they are polished and sold.
o In Namibia, the diamond mining industry is the largest single employer after the government.
o In Botswana around 25% of the labour force is directly or indirectly linked to diamonds.
o In India around 1 million people are employed in diamond industry.
Diamond revenues enable every child to receive free education up to the age of 13
o Many African countries do not have sufficient public tax money to pay for education for all children – unlike developed countries.
o Many African governments have to charge students and their families for education. Botswana, is one of the exceptions, largely due to diamond revenues.
o Diamonds first discovered in Botswana in 1966 – there were only three secondary schools, there are now more than 300.
o Even after the age of 13, secondary education is 95% funded by the government, which enables children to stay in school longer.
1 million people are employed by the diamond industry in
India.
oThe diamond industry has experienced substantial growth in India in the last few years, lifting hundreds of thousands of people out of rural poverty into employment.o9 out of 10 diamonds are polished in India.oIndia one of the key contributors to the growth of diamond jewellery worldwide. The diamond industry in India has also been a key contributor to the annual growth of the country's gross domestic product (GDP)
About $8.5 billion worth of diamonds a year come from
Africa
o "The diamond industry is vital to the southern African economy." Nelson Mandela (1999)
o The majority of today's diamonds are sourced from Africa, Canada, Russia, Australia and South America, with an estimated 65% of the world's diamonds being produced in African countries.
o If measured by value, Botswana is the biggest producer of diamonds in the world.
o The approximate breakdown of diamond production by value within Africa is:o Botswana: $3.3 billiono Angola: $1.5 billiono South Africa: $1.5 billiono Democratic Republic of Congo: $0.7 billiono Namibia: $0.9 billiono Other African nations: $0.6 billion
Diamond Production 2012
Diamond Production (Gem) 2012
Country Thousands of carats
Congo (Kinshasa) 21,524
Russia 20,700
Botswana 14,400
Zimbabwe 11,000
Canada 10,451
Angola 7,500
South Africa 2,830
Namibia 1,629
Lesotho 479
Sierra Leone 406
Central African Republic 293
Ghana 233
Guinea 213
Tanzania 108
Australia 92
1 carat = 0.2grams
Source: USGS Mineral Yearbook
Exploration
Kimberlite deposits Alluvial deposits Geologists and
geophysicists use lots of different methods to carry out ground surveys to try and find anomalies in the ground which might indicate the presence of diamonds.
Source: Diamondspot.com
Mining
o Open pit miningo Underground miningo Coastal miningo Undersea miningo Riverbed mining
Open pit diamond mine – RussiaSource: Wikipedia
Sorting
o After diamonds have been mined, rough diamonds are sent for sorting where they are sorted according to size, shape, colour and quality.
o Can be sorted and valued into 12,000 different categories.
o Smaller industrial stones are also identified and separated in order to be sent off to be used as industrial diamonds (in drills used to cut other materials). Source: Wikipedia
Cutting and Polishing
o This does not usually take place in the same location as the mine. The key processing centres are in Antwerp, India, Tel Aviv, Mumbai, New York, Johannesburg, China and Thailand.
o They can but cut into many different shapes – round, oval, pear, heart, emerald and many more
Source: Wikipedia
Dealing
o Unlike other natural resources such as gold diamonds are not traded as a commodity but instead sold at diamond exchanges or direct to manufacturers.
Source: Wikipedia
Manufacturing
o Manufacturers will create jewellery according to the requirements of retailer or designer.
Source: http://www.offshorediamonds.co.uk/jewellery-manufacturing-service.asp
Retail
Tiffany and Co. – New York. Source: Flickr user Joseph_Toledo
Tiffany and Co Diamond RingSource: Flickr user Kent_Chen