2016 predictions for the diamond mining industry
Top predictions for the diamond mining industry, merely for the miners, retailers and people related to the jewelry world from experts. In the chronicle of the mining industry, 2015 will be marked down, as it turns out to be a tough year on the record of the companies linked to the excavation (mining).
In the history books of the mining companies, 2015 undoubtedly proves to be the worst year, as it is hit by the record-low commodity prices that forced them to cancel jobs along with dividends as well as production suddenly and ruthlessly. Further, this year too hit their sell assets. Now the significant question for the next year is whether miners would see the commencement of a recovery phase or they still have to face and get used to what the miners in their term describe as “new normal,” distinguished by the oversupply of the projects and weak markets. While the market prognosticators are still out on the subject, most analysts suspected that commodities will go forward to knock along the rear end until there is a pickup in the global economic development. The cost of both rough and the polished diamonds has dropped down to 20% this year, the top producers and the mining companies like ALROSA, De Beers and Rio Tinto predicts the market growth by mid-2016. The AWDC and the Bain & Company forecasters expected the demand for the rough diamond to grow at a yearly rate of about 3 to 4% over the next 15 years. Despite the slump due to the weak economic growth Chinese market is expected to show 4% to 5.5% yearly growth through 2030.