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As of 2025, Russia's natural industrial diamond reserves were estimated at approximately 750 million carats. Thus, Russia had the largest industrial diamond reserves worldwide. Almost half of the world’s mined diamonds are used for industrial purposes as rough diamonds. Industrial diamonds can be used in cutting, drilling, grinding, and polishing. 

Diamond industry worldwide

Following Russia, Botswana held the world’s second-largest diamond reserves, totaling 250 million carats as of 2025. Based on production volume, Russia and Congo are the world’s largest diamond producers. Russia mined 16 million carats of industrial diamonds in 2025 and Congo produced seven million carats during that year. Demand for rough diamonds is increasing worldwide, and is expected to reach some 292 million carats by 2050.

Diamond companies and the breakdown between industrial and gem-quality diamonds

Alrosa and De Beers' diamond production volume combined accounted for over half of the world’s diamond production in 2024. That year, Alrosa comprised 31 percent of the world’s production and De Beers totaled 29 percent. Almost half of the world’s mined diamonds are used for industrial purposes as rough diamonds. Industrial diamonds can be used in cutting, drilling, grinding, and polishing. Its value is apparent in the industrial sector due to its hardness, heat conductive material, and resistance to many acids and alkalis. Only about 20 percent of all diamonds are considered to be gem-quality polished.