Small Diamond Miners Turn to Gold
July 06, 26
Ronnie Grouper - trader of diamonds in Guyana (situated in the north of South America).
Picture Ronnie Grouper
Reports from several diamond producing countries indicate that small diamond miners have shifted from diamond to gold mining. Small alluvial mining operations are relatively easy to convert into gold mining, as most of the equipment is similar in both operations.
Ronnie Grouper, who lives in Guyana for over 20 years, and operates a diamond trading and export company, says "The change is drastic. Guyana has never experienced such a decrease in diamond exports. Year-on-year, in the first 6 months of 2026 the drop in available rough diamonds is 70% to 80%". Ronnie explained that the diamond mines are located next to the gold concessions, what facilitates the move.
Guyanese run-of-mine assorted by sieves -6 and -11, makeables and sawables.
Picture Ronnie Grouper.
The profile of the Guyanese run-of-mine is mainly 1 carat and smaller. 85% of the value is in the half carat and smaller sizes. In a 1,000 carat parcel there will be no more than 6 to 10 stones weighing more the 2ct each. The greenish color of the Guyanese rough is thanks to the external spots, that once polished most of it comes out H color and whiter. Some goods remain light brown, but they are balanced with the extremely rare and highly sought after fancy greens.
"The calculation is simple," Ronnie concluded, "in the past three years, gold prices have doubled (including the latest correction), while prices of small diamond parcels have dropped more than 50%."