Adam Schulman, CEO of the company, said at the mining investment conference in Cape Town that the annual profit of the cutting industry is estimated at $ 15.62 billion.
"While profitability in this sector has decreased, it has allowed companies to meet new challenges, try to integrate into the consumer segment and find new ways to make profit a central concept in the industry, "he said.
Shulman also noted that the extractive ($ 60 billion) and retail ($ 72 billion) sector gets the most part of the profits from the sale of diamonds and diamonds.
"There is a wide range of figures in the figures, and you can see that there is a significant added value in the industry, and a few sectors of the economy can boast of this," he said.
At the same time, according to Shulman, one can not fail to note the significant changes that the diamond industry has undergone over the past six years, many of which turned out to be positive: "In particular, we moved from what is called an industry controlled by the producers of raw materials to the industry , dictated by demand, which is a healthy approach to diamonds and diamonds, which opened up new opportunities, new ideas and new paradigms that we can take advantage of. "
Speaking about diamond raw materials, Shulman said that recently there was not discovered any really large field, and it is unlikely that it will be opened in the medium term.
"This means that we will continue to exist in the conditions of high concentration that we are observing at the moment, as well as in conditions of an almost not growing level of production, which of course will affect the price of the final product," he added.
"Demand for large and high-quality diamonds will outpace supply, while prospects for carat production growth remain in the low and medium range, potentially around 5-10% in price terms," Shulman concluded.
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