The journey from the mine to the jewelry shop is a long a complicated process.
First to make a slight correction to the previous answer. Diamonds are indeed difficult to mine, but not quite 250 metric tons per carat. Per the Gemological Institute of America, "the ratio of diamond to ore is usually about 0.30ct of rough diamond per metric tone of ore." This basically means that to get 1.00ct of rough diamonds, you would need to mine 3.5 metric tons of ore.
Assuming that the diamond mine is in compliance with the United Nations supported Kimberly Process...the rough that is mined is taken directly from the mine to a sorting plant, usually on the premises of the mine.
The rough stones are then hand inspected and sorted by size, color, clarity, etc. The rough stones are then sent from the sorting factory in packages call lots or businesses. At the polishing factories, rough is then polished into what we call Octahedral rough, which is 8 sided rough that has been prepped for cutting.
Once the polishing is finished, the rough is re-evaluated and sorted into classifications of size and quality. The polished rough is then sorted into lots or businesses to be sold. Each business is ascribed a certain value...the higher the value, the higher the ratio of desirable diamonds to undesirable diamonds. Lots are generally separated into values of 100k, 250k, 500k, 1 million, 2 million, 5 million, 10 million, and so on, but can also be broken down into other values depending on requirements of the purchaser.
If the rough was mined through the Diamond Trading Company (DTC), the distribution arm of the DeBeers company, the rough will be sold at a DeBeers sight. A sight is a meeting that is held 10 times a year. At these meeting Sightholders, which are companies that hold the right to purchase directly from DeBeers. I believe that there are 79 Sightholders currently.
Once the rough is purchased, the Sightholder will sell some of the rough to companies that don't have the ability to purchase from DeBeers, and some they will send to their production line to be cut and polished into finished diamonds.
The diamonds that are set apart to be finished, go to the company's cutting factory, where diamond cutters analyze the rough to determine the best shape, size, and dimension of diamond will yield the best possible diamond while resulting the least amount of rough loss during the cut process.
Once this is done, the diamond is cut and polished, the stone is sent out to a gemological laboratory to be graded. Once the diamond is graded, a report is printed and issued, and the diamond is tagged with a report number. Sometimes the stone is even laser inscribed on the girdle with the report number.
At this point the diamond is ready to be sold to a retail store...once it has been purchased by a retail store, it is then put on sale to the general public.
The road from mine to retail store can take as much as a year, sometimes even more. It is a very long process.
Tim
Emma Parker & Co.
www.emmaparkerdiamonds.com