Mumbai: Global economically viable diamond reserves are estimated at about 1.8 billion carats. At the current annual production level of roughly 90 million carats, these reserves are expected to sustain the market for around 20 years. The estimate was shared by Sergey Takhiev, Head of Corporate Finance and Investor Relations at Alrosa.

More than half of the world’s diamond reserves are located in Russia, with the remainder largely concentrated in Africa, particularly in Botswana and Angola. Takhiev noted that countries such as Australia and Canada have little influence on the global distribution of diamonds. He added that if global production declines, existing reserves could last for 50 to 60 years or longer.

Takhiev stressed that while the availability of diamonds is diminishing, they will not disappear. He described diamonds as a phenomenon of world history and culture that has endured for thousands of years. He also expects a gradual recovery in diamond prices in the near future, emphasizing that a sudden supply shortage is unlikely.

Alrosa plans to produce 29 million carats in 2025, having already exceeded its production target by 3% in the first half of the year. In 2024, global diamond output fell to its lowest level in two decades, totaling between 95 million and 105 million carats.