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Will Diamonds Ever Run Out?

Will Diamonds Ever Run Out?

As of right now, there’s a rough estimation that there are 1.2 billion-carat diamonds in the world. And what does that tell us? Well, as soon as we have a definitive answer that something has reached a particular “ceiling,” number-wise at least – that means that we can’t account for an infinitive amount.

So, will diamonds ever run out? It’s extremely unlikely for someone to provide you with a concrete answer. But, there are a few certain things: 

If we don’t find a new excavation point to mine diamonds from, we’ll most likely run out of them at some point in the future. It’s doubtful that we’ll have to face that reality, though – at least not any time soon. Scientists and archeologists are constantly in pursuit of new potential mining spots. 

And in the meantime, we can pray that their exploration will prove successful. Still, there are several ways that we, on an individual level, can influence the consequences of a potential total shortage of diamonds. 

Are you interested in learning what you need to do? Stick around to find out!

The Demand For Diamonds Will Always Remain High!

Will diamonds forever hold the title of the most wanted precious stone on the planet?

Unfortunately, we can’t predict the future – so, we can’t foretell if diamonds will remain at the top of the list. However, we can guarantee that diamonds will always stick around as irreplaceable accessories worn by people of all cultural backgrounds, ages, and genders.

That’s something that’s unlikely to change. Definitive proof of that statement lies in the fact that diamonds are the most sought-after gems in the world. 

One example we’re all familiar with would be engagements. Most countries have the “standard” tradition of proposing to women by presenting them with a beautiful diamond-embedded golden ring.

Because of that, it’s nearly impossible that you avoid diamonds throughout your life. You’ll either buy them to propose to your significant other – or will be presented with one. 

We’d like to add something: Don’t get caught up in the belief that “the bigger the stone, the bigger the commitment,” though. A bigger stone is just that – a bigger stone.  

Back to the topic: Even if you don’t find yourself needing to buy a diamond ring for engagement-related purposes – that doesn’t mean that you won’t have the opportunity to buy and own some diamonds at all.

The only problem is the means necessary to accomplish that: Diamonds are extremely expensive. A single one-carat diamond with an average rating is nearly impossible to find without burning a whopping $2000 hole in your wallet!

Due to their absurd price tags, most people will choose a more affordable approach by finding other precious stones and gems. Still, a handful of people find natural diamonds an irresistible accessory – and a must-have for their jewelry collection.

Regardless of your financial status, sooner or later, you’ll want to own a diamond or two. The question here isn’t when you’ll decide to buy a diamond, but rather the reason why you’d need to buy them.

So, when you add all of the things that we’ve previously discussed, you can figure out just how essential diamonds are in today’s society. We don’t see any potential detriments to this reality – and it’s evident that there’ll always be a high demand for diamonds.

But, if we had to point out the most dangerous thing that can affect the ongoing link between the demand and supply of diamonds, it’s impossible to avoid discussing the process of finding them.

Where Are Diamonds Mainly Found?

Depending on your whereabouts, you might be located extremely close to some unknown and unverified diamond excavation points on our planet. If certain conditions are met, diamonds can be found even below your apartment building or house.

Which are those conditions? We’ll keep this section as quick as possible: 

Diamonds are formed roughly 100 feet under the surface. And if a perfect balance between the temperature and pressure is met, diamonds will begin to form. That could technically happen at any location on our planet.

If you wish to learn about the process, we’ve got you covered – just click on the link here!

It’s worth noting that it’s highly unlikely that you’ll discover a new location for mining diamonds in the neighborhood, though. Most locations were already found several decades ago. To be more precise – not a single one has been found in the last 20 years!

Locations that have been discovered to contain diamonds are either in the governments’ private property or are bought by large manufacturers that are closely related to the diamond-making industry.

Because of that, regular citizens can’t visit and approach those excavation locations, as they’re highly guarded private properties. There’s a way to arrange a touristic voyage to see what those mines look like, though. 

But we’ll talk about that another time. For now, you need to remember that natural diamonds are found in particular mines that are put under strict surveillance by the government or large diamond-making manufacturers. 

Here’s a quick note on the diamond-mining process:

Regardless of how big or small it may be, as soon as a diamond is found, several key elements need to be documented. Those include the exact time and date when that diamond was found – along with several other details about the location, the diamond’s size, and such.

After those bits of information are collected, the diamonds, alongside the official document that describes the diamond’s origin, are shipped to a different location – most commonly a lab where diamonds are further examined and graded.

To precisely determine how valuable a specific diamond is, it has to undergo tests performed at those specialized laboratories. These include the determination and evaluation of the diamonds’ color, carats, and clarity

The last step is the cut of a diamond. If you wish to learn more about the 4Cs of diamonds – click on the link here! 

The most important thing to remember is that it would be impossible to determine the overall price and value of diamonds without that evaluation.

After a diamond is thoroughly checked, it usually travels to a jewelry shop. Jewelry shops are the most common locations where diamonds are sold and bought. With that, we’ve now thoroughly explained every necessary step that needs to occur before someone can purchase a diamond.

But what happens if the very first step of this topic ceases to exist? Today, we’ll take a closer look at one of the most curious problems that can affect the balance between the supply and demand of diamonds.

Learn More: How Long Does A Diamond Take To Form And Grow?

How Many Diamonds Are Left “In The Wild?”

Human society is incredible. We’ve figured out how to reproduce and recreate the locations and conditions necessary to make most things that Mother Nature provides. 

But, certain things could only form under unique conditions that can’t be replicated by humans that easily. And unfortunately, diamonds are placed in that category: 

It’s impossible to produce natural diamonds artificially – as in, to modify the pressure and heat below Earth’s crust and make diamonds “grow” underground. They can only be found in specific excavation points for a reason.

Humans currently can’t replicate those conditions; we don’t possess the necessary knowledge and technology to force diamonds to grow artificially – not outside the lab, that is. We are left at Mother Nature’s mercy to provide us with natural diamonds.

So, can we point out when the world’s diamond supplies will run out?

Well, it’s impossible to point out if diamonds would ever run out. 

Yes, there’s a finite amount of them. Still, scientists believe that, theoretically, diamonds should continue to “pop up” at different locations and times – as they did for hundreds of years in the past. 

The only issue is that there’s only a limited amount of diamonds that can be dug from a specific location. Not all excavation points can provide a lot of diamonds: Most of them are limited to several hundred pounds at a time. 

But, as we write this, diamonds are constantly being dug up. That means that most mines are slowly but surely running out of diamonds.

Here’s the harsh reality: Scientists predict that we currently have the capabilities to dig up diamonds for the next 20 or so years. That should provide us with more than enough diamonds and their fluctuation on the free market for at least the next 200 or 300 years.

But, what will happen if we don’t find new excavation points in the meantime? Well, unfortunately, if we fail to discover some, we’ll have to accept the fact that diamonds will run out.

Most people aren’t pleased with the previous statement, and we agree with them: We can’t even imagine a world where diamonds are no more. 

For now, we can only hope that scientists and experts in the diamond-making industry do their best to locate new mines where these precious stones can be dug up.

Due to that harsh reality, we must point out how essential it is to minimize the potential damage to the diamonds we already own – just in case we run out of diamonds. 

There are several key elements that people that own diamonds should know and obey, starting with:

Keep Your Diamonds Protected At All Times

The first – and, if you ask us, most important – rule would taking care of the diamonds that are currently available on the market or already in our possession. And by “taking care,” we mean – keeping them safe. 

As soon as you purchase diamonds, you should also invest in a safe. It doesn’t matter whether you with a safe made for residential use or one offered for rent by banks: Either way, you need to keep your diamonds protected at all times.

They might run out one day; keep the ones you have safe and sound. That’s especially crucial for people who don’t wish to wear their diamonds leisurely every day or for people who didn’t embed their diamonds in some fancy jewelry.

Diamonds Need To Be Cleaned Frequently

You wouldn’t believe how many people neglect this small – but essential – fact. 

Although we can’t affect whether diamonds will run out or not – we can still do our best to take care of our diamonds. That way, even if the time comes when they run out – the diamonds that are currently out there can still retain their value, sparkle, and signature looks.

Just because diamonds are graded with a perfect “10” on the Mohs scale, it doesn’t mean that external factors can’t affect their overall appearance and value. Granted, without extensive force, only a handful of things can jeopardize a diamond’s integrity.

However, if you leave your diamonds unattended for several months, they might get dirty. Not only that: All jewelry that’s embedded with diamonds is at risk if they become dirty enough.

If you wish to learn more about how to take care of your diamonds – click on the link here!

Artificial Diamonds

Remember what we said about being unable to recreate the conditions needed for diamonds to form outside of labs? Well, that brings us to artificial – or lab-made – diamonds. 

If we ever run out of diamonds, there will always be a sustainable alternative –  artificially made gems. Scientists found a way to produce diamonds artificially. And if you possess basic knowledge in chemistry, you could even make some at home

So, if there ever comes a time when we run out of natural diamonds, rest assured there’ll still be a never-ending supply of artificial, lab-grown diamonds – with the same properties and sparkling capabilities. 

Epilogue

We can all agree that today’s topic wasn’t a particularly pleasant one. Who wants to think about the chances of diamonds running out? 

But, there’s no need to fall into despair immediately. The world’s current supply has about 20 or so years left in it. We’re sure we’ll figure something out by then. 

Let’s revisit the question, will diamonds ever run out? 

If we don’t find new locations where these gems can be mined, then yes, we’ll probably run out of diamonds in the next 20 years. But it’s improbable that that will happen.

On the off chance of diamonds running out, we can still do our best to preserve those that are already on the market. Keeping them safe and cleaned at least once a year should be common sense by now.

And artificial diamonds can jump in as a replacement if necessary. But for now, let’s enjoy what we have!

Related Read: Top Diamond Producers: Which Region Specializes in Diamonds?

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