Demand for Diamonds to Double, Angolan Mining Official Says

An increase in demand for diamonds could lead to a doubling of world production through 2020, according to Hélder Bataglia, chairman of diamond miner Escom. The increase will be due to a recovery of the U.S. economy and increased demand from India and China.

Bataglia spoke at the 29th anniversary of Endiama, Angola’s state-run diamond company. According to a report by the Angolan News Agency (ANGOP), in a speech titled "Primary Markets and Consumption: Trends and Investments in Diamond and Exploration,” Bataglia estimated global diamond production at 163 million carats, valued at $12 billion.