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Australia- Industry revenue is likely to go up by 2.0 per cent to $2.3 billion in 2015-16.
By: Diamond World News Service
Jan 6 2016 1:18PM
Reference: 12527  

International branded jewellery houses are playing progressively more important role in jewellery in Australia; gaining from their growing presence, well-built brand identity and loyalty from consumers. Both natural and treated colour diamonds are gaining popularity among consumers. This and much more, Kunjal Karaniya gives you an insight on the Australian market.

Australia is a chief producer of diamonds in the globe. Industry players export cheaper unsorted diamonds and a restricted number of rare colour diamonds. The yellow and pink diamonds from the Kimberley region in Western Australia are Australia's most notable colour diamonds, and the sale of these high-end stones contributes disproportionately to industry revenue. In addition to diamonds, the industry includes companies that mine opals, sapphires and other gemstones.

Industry revenue is estimated to fall at a compound annual rate of 4.0 per cent over the five years through 2015-16, to reach $380.1 million, found IBISWorld’s Diamond and Gemstone Mining market research report.

Diamond Source:

• According to the diamond fact sheet presented by the Australia Government, most of Australia's economic diamond resources are in the very large, low gem quality content Argyle deposit, in the Kimberley region of north-western Australia, accounting for about 90 per cent of Australia's diamond production. Relatively small resources of alluvial diamonds are worked nearby in Smoke Creek (Argyle Alluvials). A number of small diamond ‘pipes’ with much higher gem quality diamond content than Argyle is mined at Merlin in the Northern Territory.

• The Kimberley region was originally selected as likely to contain diamond deposits because of its similarity to the African diamond fields. The Argyle deposit contains a large proportion of the world's economic diamond resources. It has some of the highest diamond grades in the world and produces nearly twice the diamond output of any other country.

• Gem diamond production is probably comparable to many of the world's other mines but as only 5 per cent is of gem quality (40 per cent near gem, 55 per cent industrial) the total value of production is less than that of several other countries.

• Argyle sells 100 per cent of its product direct to the world market. The best Argyle rough diamonds, including the renowned pink diamonds, are cut and polished at the Argyle Diamonds facility in Perth, Western Australia.

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