Hi, my name is Peter. I recently found that there are currently enough diamonds to give every single woman, man and child on earth a cupful. So i was just wondering why they cost so much then? I also overheard something about some company being a monopoly in the diamond industry and that they regulate the output or something. I would appreciate it so much if you could clarify this. I’m doing a report that is due soon so if you could reply soon that would be great. Thanks!
You are correct the cost of diamonds is controlled by the DeBeers Corporation. They regulate how much diamonds go for based on supply and demand. Although DeBeers is losing their monopoly, overall they are still the major player.
The Diamond Guy Helper