A peculiarity of the diamond industry is the remarkable geographic concentration of the trade-in gem-quality diamonds; the wholesale and diamond cutting businesses both are limited to just a few locations. Diamonds are the world’s hardest known natural substance and can only be cut by another diamond as they are composed of carbon they will burn if heated to a bright red.
They occur naturally but are extremely rare compared to other minerals. It is thought that they are formed deep inside the Earth in conditions of extreme heat and pressure and volcanic eruptions later bring them to the surface. It is an undeniable fact that since their discovery diamonds have been so desired. Nowadays the precious gems have even become no less than essential to modern-day industry.
The diamond trade brings hundreds of thousands of people together from all around the globe. From individual miners cutting up rocks in search of the elusive gem to the corporations that employ them, to the dealers that aggregate the diamonds, sort them, and ship them to dealers and jewellers who turn them into classic artifices of beauty before reaching their final destination to the people who buy them.
The largest diamond manufacturers are Rockwell Diamonds, Anglo American plc, Gem Diamonds, Petra Diamonds, Lucara, Dominion Diamond Corporation, Debswana Diamond Company, Ltd., Rio-Tinto Diamonds, ALROSA & De Beers.