The World Will Never Be So Rich That It Stops Loving Diamonds

Here's an interesting chart from Rio Tinto's Alan Davies, CEO of Diamonds & Minerals.

It shows how the demand for certain mined goods wanes as GDP per capita rises.

As you can see, diamonds rise at the slowest rate. And even by 2050, the world won't be rich enough that it runs out of new buyers.

And based on the curves of Davies' chart, the point at which diamond demand reaches critical levels appears to be beyond forecasting capacity.

Rio Tinto is the third largest producer of rough diamonds.

Here's what diamond supply and demand is looking like around the world: