51°12′52″N4°25′06″E / 51.214509°N 4.4182508°E /51.214509; 4.4182508
Antwerp's diamond district, also known as theDiamond Quarter (Diamantkwartier), and dubbed theSquare Mile,[1] is an area within the city ofAntwerp,Belgium. It consists of several square blocks covering an area of about one square mile. While as of 2012, much of the gem cutting and polishing work historically done in the neighborhood had moved to low wage centers elsewhere, about 84% of the world's roughdiamonds passed through the district, making it the largestdiamond district. In 2011, it had a turnover of $56 billion dollars.[2] Each year, approximately 50% of the rough diamonds return to Antwerp for cutting and polishing such asThe Black Falcon, worlds largest cut diamond.[3][4]
Over $16 billion in polished diamonds pass through the district's exchanges each year. There are 380 workshops that serve 1,500 companies. There are also 3,500brokers, merchants anddiamond cutters. In 2017, roughly 234 million carats were traded in the district, an area with a workforce of 30,000 people. Over 80% of rough diamonds were purchased in Antwerp.[5]
Within the area is theAntwerp World Diamond Centre, and four trading exchanges[6] including the Diamond Club of Antwerp and theBeurs voor Diamanthandel, both of which were founded byHasidicdiamantaires,[7] theAntwerpsche Diamantkring and the Vrije Diamanthandel.[8]
The neighborhood is dominated byJewish,Jain Indians, LebaneseMaronite Christian, andArmenian dealers, known as diamantaires.[9][10] More than 80% of Antwerp'sJewish population works in the diamond trade;Yiddish was, historically, a main language of the diamond exchange.[11] No business is conducted on Saturdays.[12]
The diamond district is located adjacent to theCentral Station (Antwerp Centraal) and a few minutes' walk to Meir, Antwerp's main shopping street. TheAntwerp Zoo is also nearby. There are numerous and various restaurants, bars and cafes around the district.[13]
Antwerp has been a focus of the diamond trade since the 15th century.[14] The industry was transformed whenLodewyk van Berken invented a new form of diamond polishing tool, thescaif, which enabled the creation of the stereotypical sparkling, multifaceted diamond. This attracted orders from European nobility - and attracted other craftsmen to Antwerp.[15]Charles the Bold commissioned him to cut and polish theFlorentine Diamond. In the 1890s a diamond industry was established in Antwerp by families of diamonds traders and manufacturers who came from Amsterdam, Netherlands.[16]
After theSecond World War, the city's mayor encouraged Jews to return to Antwerp and many did so, including some who were working in the diamond trade. That helped to boost the industry. There was a subsequent decline however, starting in the 1960s, when some of the polishing business moved to India because of lower labour costs. Subsequently, some of the cutting business also moved to that country.[17][18] A 2019 research study stated that India continued to dominate the cutting and polishing industry.[19]
In February 2003, thieves stole loosediamonds, gold, silver and other types of jewelry valued at more than $100 million in theAntwerp diamond heist, also known as the "heist of the century."[20]
The industry has avoided the2022 European sanctions against Russia although the imports fromAlrosa have diminished.If banned, theAntwerp World Diamond Centre claims 10,000 jobs would be at risk.[21]
Antwerp is the capital when it comes to diamonds. There are a lot of cities that would like to call themselves the diamond capital, but there is only one.
Close to 90% of the worlds diamonds pass through Gujarat for polishing, Over 90% of the world's diamond pieces are cut in Surat