Responsibly sourcing some of the world’s rarest and most precious gems
We focus on the highest margin section of the diamond pipeline – the upstream, involving the mining, processing, sorting and sale of rough diamonds.
"Diamond is the most valuable, not only of precious stones, but of all things in this world" - Pliny, 1AD
Diamonds are inherently valuable due to their scarcity, which, over the last two decades has been met with an increase in demand from emerging markets.
Whilst this creates the foundation for strong diamond market fundamentals, there are a number of other factors that can impact the industry which we monitor carefully and, where we can, respond to to the best of our ability.
Expectations for a grading certificate, specifying the size and quality of a diamond have been long established.
In contrast, demand for assurance of the impact diamonds make on the people and planet during their journey, including their source of origin, has risen substantially during the last decade.
At Paul we are a founding member of the Natural Diamond Council, who is tasked with communicating the integrity of the modern diamond industry and to inspire, education and protect the consumer”.
The diamond industry enforces regulation and transparency throughout the value chain through a combination of industry-wide initiatives, certification programmes, and traceability systems.
The industry is working hard to develop technology to assure for greater transparency and traceability of a diamond’s entire journey.
Contact us for more about the diamond industry and Paul’s ethical practice and traceability
Diamonds support the livelihoods of millions of people worldwide, providing economic security, health initiatives and education opportunities.
We also seek to protect the natural world that produced these incredible gems; reducing our carbon footprint, improving our circular economy and safeguarding and enhancing the biodiversity around us.
Global diamond production peaked in 2005 at 177 million carats. In 2024 ca. 112 million carats were produced, with this number expected to remain flat until the end of the decade.
The global jewellery market was worth c.US$290bn in 2022, with natural diamonds accounting for 30% (ca. US$90 billion).
De Beers, ALROSA and Rio Tinto (the majors) accounted for ca. 61% of natural diamond production by volume and value in 2022.
Global diamond production peaked in 2005
Over the last 25 years demand for diamonds has tripled due to the following factors:
We produce the full spectrum of diamond sizes and categories, from mass market goods to highly sought-after special stones, including larger white diamonds and a range of fancy colours.
As of October 2024
Today there are only 30 significant diamond mines in production, seven of which are considered as Tier 1 deposits (+US$20 million Reserves).
To date, the most important discoveries (other than Argyle in Australia) have clustered into three regions of the world: southern Africa, Siberia, and western Canada.
Inventory needs to be managed to maintain stable prices and prevent market saturation at all levels of the value chain.
It is uncommon for diamond producers to hold back inventory. However the larger players occasionally do so to avoid flooding the market and driving down prices, to balance the market and prevent price volatility.
Cutters and polishers in the midstream segment of the diamond market can impact rough diamond pricing and demand through inventory restocking and destocking cycles.
We continually monitor the midstream segment and only sell diamonds on an open tender basis to enhance selling prices.
The midstream’s key focus is to maintain a consistent supply of rough diamonds to meet the demand of downstream customers.
Effective inventory management is critical for downstream diamond players to meet customer demand, reduce costs, and maintain profitability.
The grade we refer to when providing information on our production refers to the concentration of diamonds within the ore mined. This is balanced by the product mix; the mix of diamonds that are mined from this ore will vary from high value gem quality stones to industrial goods.
As a producer, monitoring our grade and demand for certain product mix is imperative to guiding on our production and revenues.
Contact us for more detail about Paul’s product mix here
Around 80% of revenues derive from the highest quality diamonds – geared toward robust demographic dynamics with the luxury goods market predicted to grow through the rest of the decade to 2030.
The diamond industry has begun trialling tracking technologies including Blockchain and AI to improve traceability.
We embrace technology to aid consumers in the source of origin of their diamonds.
Diamond miners, particularly those in block mining, use machinery that is highly mechanised with ever-developing innovations to extend life of mines and make them safer and more efficient.
We use some of the most advanced technology and equipment to unearth these precious gems in the safest and most sustainable way.
Constantly improving technology is used in the midstream as part of traceability and grading, and in the sales process.
As consumers become more focused on purchasing online, retailers are looking for ways to use technology in the marketplace and making phygital retail a reality.
Lab grown diamonds have been available for many years.
As technology advances we are seeing that a larger market for the use of lab grown diamonds in jewellery is developing, opening the market to those that previously have not had access to the industry. In tandem the cost of their production continues to decline, further separating their value proposition from that of natural diamonds.
As a manmade product that can be mass produced, these stones are seen as a separate purchase proposition, incomparable to the inherent rarity of natural gem-quality diamonds which were formed in the Earth over a billion years ago.
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