How long until we run out of diamonds???

Here is an unsettling thought.  BHP Billiton and Oro Tinto, two of the largest diamond mining companies in the world are wanting out of the diamond mining business as it is not profitable enough for them to bother with, constituting less than 2% of their profits.  They will either sell or close those operations at some point in the future.  

Further the existing mines are becoming less productive and there are no major new finds on the horizon.  

The scariest part of the educational sessions I have been in this morning is the estimate that we will be out of diamonds (natural) WITHIN THE NEXT 50 TO 70 YEARS!

I will not be here by then, baring substantial medical breakthroughs in longevity, but I really hope for the children and grand children of my clients that this does not come to pass.  

It is, however, something to keep in mind while we are complaining about the current increases of diamond prices.  Someday we will look back on today's prices and wish we could have bought more diamonds.

More to follow...

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Wink Jones

Winfield's

5120 W. Overland Rd #300

Boise, Idaho 83705

Wink phone 800 524-7904 Google Voice is 208 918-1929 If you call this number it will ring in both my office and on my cell, so I will get your call whether or not I am in the office.

Melissa Phone 908 637-8199