Antwerp's diamond district, also known as the Diamond Quarter (Diamantkwartier), and dubbed theSquare Mile[1] is an area within the city of Antwerp, 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 district had moved to low wage centers elsewhere, about 84% of the world's rough diamonds passed through the district, making it the largest diamond center in the world with a turnover of 54 billion dollars.[2]
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 3,500 brokers and merchants.
Within the district is the Antwerp World Diamond Centre, and four trading exchanges[3] including theDiamond Club of Antwerp and the Beurs voor Diamanthandel, both of which were founded by Hasidic diamantaires.[4] There are also four banks specializing in the financing of the diamond trade.[5]
The district is dominated by Jewish and Indian dealers, known as diamantaires.[6] [6] [7] More than 80% of Antwerp's Jews work in the diamond trade; Yiddish was, historically, a main language of the diamond exchange.[8] No business is conducted on Saturdays.
In case you didn't KNOW!
Industrial grade Diamonds are 1 out of 10 grains in beach sand!
In case you didn't KNOW!
Industrial grade Diamonds are 1 out of 10 grains in beach sand!
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