Yes, Australia has diamond mines, with the famous Argyle mine in Western Australia being a major past producer, especially of rare pink diamonds, though it closed in 2020; other areas like Ellendale (WA) and locations in New South Wales (Copeton, Bathurst) and the Northern Territory (Merlin) have also yielded diamonds, with exploration continuing for new discoveries.
Significant quantities also were mined from alluvial deposits at Copeton and Bingara, near Inverell in north-eastern New South Wales, from 1867 to 1922 and minor production resumed at Copeton in 1997, but has since stopped. Numerous minor occurrences of diamond have been recorded elsewhere in Australia.
Mining ceased at Argyle in November 2020, after 37 years of operation. We are committed to respectfully closing and rehabilitating the mine and returning the land to its traditional custodians.
Which countries are the biggest diamond producers?
A 1-carat diamond in Australia generally costs between A$2,000 and A$20,000+, but can range from under $1,100 for lower-grade stones to over $18,000 for high-quality, well-cut diamonds, with the price heavily influenced by the "4 Cs": Cut, Colour, Clarity, and Carat, plus the diamond's shape and if it's natural or lab-grown (lab-grown being much cheaper). For example, you might find a lower-clarity, M-color oval for around $1,000, while a D-color, VVS1 princess cut could be over $11,000.
For $20,000, you can typically get a significant diamond, often ranging from 1.5 to over 2.5 carats, depending on the Four Cs (Cut, Color, Clarity) and shape, with choices like a 2ct H VS2 or a larger but less perfect 2.5ct I SI1 being common, or even larger lab-grown options. A strategic approach balancing quality (excellent cut, near-colorless) with size allows for a visually stunning, large stone that sparkles brilliantly, rather than overpaying for perfect color/clarity invisible to the naked eye.
Ten years ago, in 2003, a 2.00-carat Fancy Intense Yellow diamond with a VS+ clarity grade cost $5,000 per carat. Today, that same stones goes for $13,500 per carat.
Botswana – 23 million carats of diamonds.
Benefits to buying Russian diamonds
Jewelers often sought out stones from cutters whose craftsmanship aligned with high-end, luxury aesthetics. Over time, these cutting traditions developed reputations for producing diamonds that were durable, well finished, and capable of lasting for generations.
Here's a list of countries where you're most likely to find diamonds at lower prices:
Yes, in most Australian states, you can generally keep gold you find, especially as a hobbyist on {!nav}Crown land, but you typically need a Miner's Right or prospecting permit, and rules vary by state, with Tasmania having stricter laws where gold may remain Crown property. The key is proper licensing, respecting land ownership, using hand tools (no explosives/heavy machinery), and distinguishing between hobby finds (often tax-free) and commercial mining.
As of 2024, De Beers owns and operates, solely or jointly, five diamond mines in Botswana. A long dispute has existed between the interests of De Beers and the San (Bushman) tribe.
If you're wondering, are there real black diamonds, the answer is yes! Just like traditional white diamonds, natural black diamonds are formed deep within the Earth's crust. Their dark, inky hue comes from the presence of graphite and other inclusions that become part of the crystal structure during formation.
Indubitably beautiful and increasingly rare, natural pink diamonds are among the most treasured types of diamond currently available. Unique in its colouring and composition, the Argyle pink diamond is exceedingly rare and takes its name from the now defunct Argyle mine in Western Australia.
The Aquamarine name comes from the Latin word for seawater and is said to calm waves and keep sailors safe at sea. It is sometimes referred to as a poor man's diamond because of the pale color.
Lab created black diamonds, and even natural diamonds that have undergone treatment, are considerably less expensive than those found naturally growing. Treated carbonados, which are usually naturally-mined colorless diamonds that have been treated to develop a black color, achieve their dark hue in one of two ways.
Adding to the complexity, the Kimberley Process doesn't focus on each diamond individually; it's about groups of diamonds. This means that different diamonds can be grouped under one certification, even if they're from different places.
One of the main reasons for this concern is that diamond mines are not infinite resources – eventually, they will run out. As Gemological Institute of America research scientist Evan Smith says, “For every diamond you take out of the ground, there's one fewer to be found.”
Diamonds are found at a depth of approx. 150-200km below the surface of the Earth. Here, temperatures average 900 to 1,300 degrees Celsius and at a pressure of 45 to 60 kilobars (which is around 50,000 times that of atmospheric pressure at the Earth's surface).
#FirstpostAfrica: Deep beneath Botswana's ancient volcanic crater lies Jwaneng, the richest diamond mine on Earth. Formed over billions of years under extreme pressure, diamonds from this site have not only dazzled the world but also transformed a nation.
The "3-month ring rule" is an outdated marketing guideline suggesting spending the equivalent of three months' salary on an engagement ring, a concept created by De Beers to boost diamond sales, evolving from earlier one and two-month suggestions. Today, it's widely seen as a myth, with most couples prioritizing personal financial comfort, open communication, and meaningful choices over this arbitrary rule.
From 1979 to 1980, a one-carat D-flawless stone rose in price from $10,000 to $65,000. (That's the time gold reached a high of $850 a troy ounce; gold has also plummeted nearly 50 percent since then.) But the price of diamond jewelry has gone up much less.
A diamond appropriate for 75% of a $20k engagement budget could range from 1 to 2.50 carats, or even higher, depending on the shape, and how it's graded in other areas. It may even be able to get you a diamond 3 carat or larger stone if you opt for a lab-grown diamond instead.