The global diamond reserves were found to be 1.4 billion carats (Bct) as of January 2021. More than 85% of these are located across Russia, Botswana, the DRC and South Africa. In the past couple of years, Australia has lost its number one spot in terms of diamond reserves to Russia, owing to depleting ore reserves and closures.

The global rough diamond production is expected to recover by 1.4%, to reach 112.99 million carats (Mct), in 2021, after registering an estimated 19% decline in 2020. With potential diamond mines, Botswana, Canada and the DRC are also expected to remain prominent suppliers of rough diamonds to global markets. In contrast, production will completely cease in Australia, owing to the closure of the Argyle mine, which closed in November 2020.