African Diamond Trade: Economic Geography: The African Diamond Trade

Koehl Simmons

November 20, 2017

Economic Geography

The African Diamond Trade

Introduction

The African Diamond Trade is a large cycle of exploitation. An estimated 65% of diamonds mined worldwide originate in Africa (Cahill 2009). In 2016, the U.S. diamond industry grew 4% to reach $40 billion, approximately half of a global $80 billion industry (DeBeers Group 2017). But how do these diamonds make it from African river banks to American engagement rings? According to Time Magazine, there are 6 steps that take diamonds from the ground to the jewelry store; exploration, mining, sorting, cutting and polishing, manufacturing, and retailing (John and Jones 2015). Each of these steps adds value to the final product that is offered in jewelry stores worldwide but this value isn’t added fairly to those who create the most value.

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An estimated 1 million diamond miners in Africa earn less than $1 a dollar a day (Brilliant Earth n.d.) Children as young as 8 forgo school for daily wages ranging between $0.15- $0.60 (The International Human Rights Clinic at Harvard Law School 2009). According to Adele Farquhar, a man fighting for legal ownership of a diamond mine, the problem isn’t people mining for precious diamonds, it’s those buying the diamonds originating in conflict areas; "People think it's a Zimbabwe problem but they forget that there is huge international complicity. You can't stop the Zimbabweans until you stop the money men. The people in Zimbabwe are getting next to nothing for these diamonds. The guy with the pick and shovel is literally earning $5. The guy to go and find is the one making $1,000. Go and look at the money and see who else is benefiting. That's why there's no momentum to stop this thing” (Cahill 2009). According to Time, the owner of the mines usually takes around 70% of the value when diamonds are sold to