Russia Sitting on Trillions of Carats of Diamonds

Discussion in 'General Discussion' started by tulianr, Sep 19, 2012.


  1. tulianr

    tulianr Don Quixote de la Monkey


    http://www.newser.com/story/154194/trillions-of-carats-russia-sitting-on-diamond-trove.html
    902124-6-20120917103320.
    A 62-mile-wide crater in Siberia sits on top of a diamond field that's home to "trillions of carats," scientists say. "By comparison, present-day known reserves" in Russia's Yakutia diamond operations are thought to be in the neighborhood of 1 billion carats. The Siberia trove could supply the world's needs for 3,000 years—and the country has known about it since the 1970s, but kept it quiet since it was already making a mint off of its Yakutian diamonds. Officials are now permitting scientists to discuss it with journalists.

    The find could "overturn" global markets, notes one of the scientists, offering Russia an effective monopoly as scientists and industries increasingly use precision diamond instruments.
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    Something to think about before plopping down a month's pay for that next diamond ring. Russia has enough diamonds in one deposit to supply the world's needs for 3,000 years; and if released, those diamonds could destroy the world diamond market and render them near the value of Cubic Zirconia.

    Can we say that diamond prices are shamelessly artificially inflated and controlled? It isn't news to those in the business, but it doesn't show up much in the broader media.
    902124-6-20120917103320. 902124-6-20120917103320.
     
  2. ghrit

    ghrit Ambulatory anachronism Administrator Founding Member

    Yes, we can say that. As you've noted, cognoscenti are aware that the mount is more valuable (costs more, anyway) than the rock. Thing is, folks tend to evaluate the bling based on the pretty rock, not the setting. IIRC, within the last year, Nat'l Geo mag ran an article that addressed that, along with "blood diamonds" from African sources. Again, IIRC, there was a back page mention on MSNBC, probably as a result of the NG article.

    As a measure of perceived value, precious stones are pretty portable medium of exchange for the drug and other smuggling trades.
     
    tulianr likes this.
  3. CATO

    CATO Monkey+++

    Mosinite is the way to go...if you have to get something.
     
  4. ghrit

    ghrit Ambulatory anachronism Administrator Founding Member

    Unless you are mosinophobic, yes, it is one way to accumulate "wealth" along with stonerite or garandite.
     
  5. CATO

    CATO Monkey+++

    Ah darn....mis-spelt it. Moissanite is the way to go........but, I like your thinking. 7.62x54 ammo is dirt cheap. If only I could find a Drago to go with my Mosin.

    http://www.moissaniteco.com/
     
    tulianr likes this.
  6. marlas1too

    marlas1too Monkey++

    if you can't eat it ,live in it,drive it or shoot it its just a rock
     
    Cruisin Sloth likes this.
  7. CATO

    CATO Monkey+++

    Are you saying I should shoot my wife?? :lol:
     
    Quigley_Sharps likes this.
  8. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Actually it would be cool if they flooded the market with these things. Drug dealers / Iranian Oil will have to find a new medium of exchange well, because the perceived value will be like so much sand on the beach.

    Plus, I could afford to get diamond impregnated tooling.
     
    gunbunny likes this.
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