In brief
A TASS interview with Pavel Petrov, senior consultant at S+Consulting, states that Russia contains about 1 billion carats of the world’s 2 billion-plus carat reserve, roughly half the global supply. Botswana, Angola, and Canada rank next. The report also notes the rarity of type IIb (blue) diamonds and Alrosa’s first production of a 2.74‑carat blue crystal slated for a November 2026 unveiling.
Russia is reported to hold about half of the world’s diamond reserves, according to senior consultant Pavel Petrov of S+Consulting, as TASS reported on July 17 2014. Petrov said Russia’s share is close to 1 billion carats, a figure that is approximately 50 % of the total global reserve of more than 2 billion carats.
Petrov cited the mining giant Alrosa, which accounts for the bulk of the Russian reserves. Alrosa’s operations span the country’s vast kimberlite fields, and the company’s prominence in global supply makes Russia the leading diamond producer on the planet.
Petrov also named the next largest holders of diamond reserves: Botswana, with 631 million carats; Angola, with 579 million carats; and Canada, with 235 million carats. These figures place the two African countries and Canada within the top‑four global players, but still far shorter of Russia’s volume.
An adviser to the Managing Director of the Industrial Code fund, Maxim Shaposhnikov, added that there is no scientifically grounded assessment of the reserves of blue diamonds—type IIb—in Russia or worldwide. He emphasized that such gems account for less than 0.02 % of total finds, and identified the South African Cullinan mine as the principal modern source of type IIb stones.
Shaposhnikov noted that Russia’s mining rate averages roughly 30 million carats per year, implying that the country’s static reserve equates to about 25 years of extraction at that pace. He cautioned that depletion of the most accessible kimberlite pipes would raise mineral prices and potentially increase the reserves derived from remaining resources.
Alrosa recently produced a blue diamond of gem‑quality for the first time in Russia. The crystal, weighing 2.74 carats, was extracted from the Nakyn kimberlite field in Yakutia. The mine’s operation highlights the company’s growing capacity to produce high‑value gems locally.
Petrov explained that Alrosa’s unveiling of the 2.74‑carat blue crystal is scheduled for the end of November 2026. The presentation will showcase the stone’s exceptional quality and demonstrate Russia’s expanding role in the premium segment of the market.
While Russia maintains the largest single‑country reserve, the global footprint of diamond mining remains diversified. The production of blue diamonds in particular remains rare, with most reserves still concentrated in South Africa.
Explorers anticipate that rising costs of extraction will encourage investment in new sources. As accessible deposits wane, mining firms are looking toward deeper and less accessible kimberlite formations to sustain supply.
Some analysts suggest that increased extraction technology could extend reserve life beyond the current 25‑year estimate, potentially unlocking additional reserves that remain unquantified today.
Nevertheless, Palmer and other scholars caution that estimates of reserve quantity are inherently uncertain. Petrov’s numbers provide a benchmark for global resource calculation but acknowledge that future discoveries could alter the figures.
These developments underscore the significance of keeping the export and production landscape under continuous scrutiny. The diamond sector’s future will depend on both resource availability and technological innovations in mining and processing.
As the industry evolves, Russia’s status as the world’s largest diamond reserve holder continues to shape global market dynamics and investor interest, especially as the demand for rare blue stone gems rises.
