Diamond mining is a profitable industry in Australia, but one that is proving challenging.
In the past year, a new diamond mine has been announced and a mine that is set to open this year will be the largest diamond mine in Australia.
Australian authorities are trying to get the Diamond Fields Corporation (DFSC) to set up a new mine in a remote area of Queensland to extract diamonds.
But the mining industry in the area has not been happy with the development.
The Diamond Fields mine is set for completion by 2021, and will have a peak output of up to 4.2 billion ounces of diamond.
According to the Australian Bureau of Statistics, Australia’s diamond industry has been booming, and is projected to be worth an estimated $6.3 billion by 2036.
This has led to a rise in pressure on the DFSC to develop a diamond mine, as well as a growing sense of insecurity amongst the mining community.
The mine, dubbed Diamond Fields, is set in the town of Dargaville, near the Goldfields.
A new mine is expected to open in 2020, with an estimated peak production of 4.5 billion ounces.
This means a new DFSc mine would have the potential to produce up to 8 billion ounces worth of diamonds, which would be worth more than $1.2 trillion.
But there are also fears that the mine could lead to the spread of diamond dust into the region, which could lead people to lose their jobs and the communities they depend on.
The DFScs development has been criticised by mining industry groups, who argue that it could lead the industry to move elsewhere.
“The mining industry is very concerned about what is happening with the Dargavalle mine,” said Daniel Stannard, the chairman of the Australian Diamond Council.
“It’s a very vulnerable area to the mine and a very sensitive area to our industry.”
The Dargavaille mine has a large, open area, which means the mining company is free to move its mine into any part of the area.
“There are some mines in this area that have already been opened, but they haven’t been very successful,” Mr Stannards said.
“So, the mine has just been announced in this remote part of Queensland and I think there are concerns about what the impact is going to be.”
The Diamondfields mine is not the first diamond mine planned for Queensland.
A mine has also been announced for the town and regional area of Yarrabool, which will have an estimated output of about 4.7 billion ounces and is set on a reserve.
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