Focused on precious minerals such as diamonds and gold, Barry Kevin O’Rourke is a longtime mining executive who works in the jungle regions of Guyana. Barry Kevin O’Rourke has a strong interest in trends in the diamond market, which affect overall prices and mining operational viability.
In 2020, as the pandemic took hold, sales of diamond jewelry decreased by 14 percent, while rough diamond transactions fell even more precipitously (31 percent). A rapid rebound followed, with the total 2020 decline for rough diamonds scaled back to 11 percent. In 2021, prices saw a 21 percent surge that effectively brought them back to the pre-pandemic normal. Even with this sharp increase, prices at the end of 2021 were still below the historic high-water mark by more than 20 percent.
Accompanying this rise in diamond value, margins in both retail and mining segments have increased substantially, with $7 billion more profits derived in 2021 year-on-year. This has enabled investor financing stability, as forecasters looked to a return to historic rates of growth by 2024.
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