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  1. #1
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    Russia reveals shiny state secret: It's awash in diamonds

    Russia has just declassified news that will shake world gem markets to their core: the discovery of a vast new diamond field containing "trillions of carats," enough to supply global markets for another 3,000 years.

    The Soviets discovered the bonanza back in the 1970s beneath a 35-million-year-old, 62-mile diameter asteroid crater in eastern Siberia known as Popigai Astroblem.

    They decided to keep it secret, and not to exploit it, apparently because the USSR's huge diamond operations at Mirny, in Yakutia, were already producing immense profits in what was then a tightly controlled world market.

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    The Soviets were also producing a range of artificial diamonds for industry, into which they had invested heavily.

    The veil of secrecy was finally lifted over the weekend, and Moscow permitted scientists from the nearby Novosibirsk Institute of Geology and Mineralogy to talk about it with Russian journalists.

    According to the official news agency, ITAR-Tass, the diamonds at Popigai are "twice as hard" as the usual gemstones, making them ideal for industrial and scientific uses.

    The institute's director, Nikolai Pokhilenko, told the agency that news of what's in the new field could be enough to "overturn" global diamond markets.

    "The resources of super-hard diamonds contained in rocks of the Popigai crypto-explosion structure, are by a factor of ten bigger than the world's all known reserves," Mr. Pokhilenko said. "We are speaking about trillions of carats. By comparison, present-day known reserves in Yakutia are estimated at one billion carats."

    The type of stones at Popigai are known as "impact diamonds," which theoretically result when something like a meteor plows into an existing diamond deposit at high velocity. The Russians say most such diamonds found in the past have been "space diamonds" of extraterrestrial origin found in meteor craters.

    They claim the Popigai site is unique in the world, thus making Russia the monopoly proprietor of a resource that's likely to become increasingly important in high-precision scientific and industrial processes.

    "The value of impact diamonds is added by their unusual abrasive features and large grain size," Pokhilenko told Tass. "This expands significantly the scope of their industrial use and makes them more valuable for industrial purposes."

    Russian scientists say the news is likely to change the shape of global diamond markets, although the main customers for the super-hard gems will probably be big corporations and scientific institutes.

  2. #2
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    So then shouldn't this crap be way less expensive than it is? Artificially inflated price.
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    I think Mr. DeBeers just $#@! himself.

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    I believe the De Beers group withholds flooding the market with diamonds so that they can control the price. Diamonds are actually not as rare as we are led to believe.
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    Emeralds is where the real money is gents.....especially Red Emeralds (beryl). And most of them have been found in the United States.

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    Well looks like russia needs to hire more NORTH KOREAN SLAVES to mine the diamonds for them, everything russia does is so $#@!ing shady.
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    So then shouldn't this crap be way less expensive than it is? Artificially inflated price.
    The article is very misleading. The diamond field only has industrial quality diamonds which still have a great value but no where close to them being of gem quality.
    Gem quality in turn has a artificial value as a great percentage of what is mined is stored in order for the gems to retain value.

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    Click here to enlarge Originally Posted by George Smooth Click here to enlarge
    The article is very misleading. The diamond field only has industrial quality diamonds which still have a great value but no where close to them being of gem quality.
    Gem quality in turn has a artificial value as a great percentage of what is mined is stored in order for the gems to retain value.
    I'm not quite sure if I understand. Gem quality diamonds are rare?
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    I'm not quite sure if I understand. Gem quality diamonds are rare?
    You get two types of quality diamonds. The one type is industrial diamonds. These are diamonds that have too many impurities in them to be made into gems. They are used for industrial purposes such as diamond tipped drill bits, cutting tools of any size up to semi conductors and even for hardening of aeroplane surfaces.
    Then you get gem quality diamonds which start off from stones that have visible flaws and are very cheap and from there the price increases drastically taking colour, clarity and size into account. You can get wholesale prices of this if you follow the Rappaport pricing guide and you have knowledge of the discounts offered on the market.
    The Russians found diamonds that are important to industry which in actuality are a greater asset as their price is not controlled by artificial supply. This can put them in very good position if they ignore diamond costs and put equal quality equipment into the market at far lower prices. They have been preparing for this all along hence they kept the find a secret.

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