Sergey Takhiev, Head of Corporate Finance at Russian diamond giant ALROSA, predicts that the diamond industry will experience growth in 2025, driven by high jewellery demand and a significant decline in global diamond mining volumes—down by up to 20% compared to levels from 5-6 years ago, as reported by Rough&Polished.

Takhiev notes that although diamond prices are currently low, demand is expected to rise due to reduced diamond inventories at manufacturing hubs in India and declining production by major mining firms.

In response to inquiries about when market inventories might be replenished, Takhiev suggests it could happen within a few months. He anticipates that the replenishment of rough and polished diamond stocks will affect the entire supply chain, from manufacturers to retailers. He further highlighted that the depletion of global diamond resources, combined with rising demand for luxury jewellery, will likely lead to long-term price increases.

Additionally, ALROSA announced that Vladimir Marchenko, the company’s Deputy CEO since 2018, will step down from his position to take on a new role within the mining industry.