Diamond Trade

Diamonds are shiny rocks which people are suffering and killing for, so as to sell to people who enjoy wearing it, for a lot of money.

Mostly all of the diamonds produced around the world comes from Africa. These diamonds produced by the biggest diamond mining company located in South Africa. This company controls over 80% of the world’s rough diamond trade. In the 20th century this company kept prices of the diamonds high because they restricted the amount of diamonds on the market.

There are other cities which are involved in trade business, one of them is Antwerp. The Jewish quarter of Antwerp are involved in diamond one way or another, they buy and sell rough and polished diamonds, where they have been diamond center for 600 years. The people that are associated in the trade are not only Jewish but also Indians and Lebanese. Since India was cheaper to cut and polish diamonds, many of the cutters and polishers went to India and only 1500 were left in the city. The amount of rough diamonds that past through the city is about 90%.Diamonds come from Johannesburg and Gujarat, then they are cut and polished, Indian workers get paid get paid 40 cent for each piece they cut and polish.

Another city called Dubai, which has a growing reputation as the diamond hub. In the Dubai there is a very interesting deal made by the government. All diamond traders will

have 50 years of zero tax holidays in Dubai. The business in Dubai is worth nearly £1 billion and its still growing.

After they had gone through markets all around the world. Many people buy diamond’s for themselves, loved ones and Etc, but did you know which type of people buy a lot of diamonds for themselves and wear them. Rappers are the most one’s who buy diamonds and wear it all around there bodies no matter what’s the price.