How The United States Geological Survey Tracks Conflict Diamonds

Peter Chirico joins the podcast to discuss the United States Geological Survey's efforts to combat the conflict mineral trade. Must listen.

Useful link:

https://www.govexec.com/management/2022/07/govexec-daily-usgs-fighting-blood-diamond-trade/374599

World's Diamond Production

Just three countries--Russia, Australia and the Democratic Republic of Congo--jointly produced almost 80 per cent of the world's diamonds last year. Russia was the single biggest diamond producer. It mined 19 million carats--just over 35 per cent. Australia and Congo tied for second place, both producing a little over 22 per cent of total production, or 12 million carats. The three countries jointly produced 79.62 per cent of the world's diamonds. Botswana trailed in fourth place with 9 per cent, or 5 million carats, but has the second biggest reserves--310 million carats. Russia has by far the biggest reserves, estimated at 650 million carats, or 34 years at current rates of consumption.

Useful links: https://finbold.com I https://www.usgs.gov