Thursday, August 21, 2014 2:33 AM EST


In mineralogy, diamond is an allotrope of carbon, where the carbon atoms are arranged in a variation of the face-centered cubic crystal structure called a diamond lattice. Diamond is less stable than graphite, but the conversion rate from diamond to graphite is negligible at ambient conditions.

A large trade in gem-grade diamonds exists. Unlike other commodities, such as most precious metals, there is a substantial mark-up in the retail sale of gem diamonds.

One hallmark of the trade in gem-quality diamonds is its remarkable concentration: wholesale trade and diamond cutting is limited to just a few locations; In 2003, 92% of the world's diamonds were cut and polished in Surat, India.[56]  Other important centers of diamond cutting and trading are Antwerp, where the International Gemological Institute is based, London, New York City, Tel Aviv, and Amsterdam.

A single company—De Beers—controls a significant proportion of the trade in diamonds. They are based in Johannesburg, South Africa and London, England. One contributory factor is the geological nature of diamond deposits: several large primary kimberlite-pipe mines each account for significant portions of market share (such as the Jwaneng mine in Botswana, which is a single large pit operated by De Beers that can produce between 12.5 to 15 million carats of diamonds per year,) whereas secondary alluvial diamond deposits tend to be fragmented amongst many different operators because they can be dispersed over many hundreds of square kilometers.

Headlines Around the Web

Gem sales make its shares sparkle

Oct 12 - Independent

Big Spender: The $30 million cake

Sep 26 - MarketWatch

Jewellers turn to diamonds, NRIs to beat policy woes

Jul 06, 2013 - The Times of India

Gem unearths third giant diamond

Jun 27, 2013 - Independent

The $30,000 necktie

Jun 14, 2013 - MarketWatch

NewsWatch: The $30,000 necktie

Jun 14, 2013 - MarketWatch

Animal agency director

May 05, 2013 - Financial Times

Zimbabwe diamonds flood into Dubai

Apr 06, 2013 - Financial Times

Articles About Diamonds

Apple's iPhone 5S is displayed at an Apple shop in Tokyo's Ginza shopping district
iPhone 6 Pre-orders starts at $500 And Will Be Available 6 Weeks After Launch

By IBTimes AU

iPhone 6 has not been officially announced yet but pre-orders are now available online at one of the luxury retailer website. (Aug 14)


John Legend and model Christine Teigen
‘The X Factor Australia’ Home Visits Final Performances Recap: John Legend, Nicole Scherzinger, James Blunt and Jennifer Lopez as Guest Judges [VIDEOS]

By IBTimes AU

“The X Factor Australia” continued with its Home Visits on Monday night. The hopefuls faced their mentors and the guest judges for their final performance before the top 3 acts from each category are announced.“The X Factor Australia” continued with its Home Visits on Monday night. (Aug 05)


Singer Jennifer Lopez (L) performs on ABC television's "Good Morning America's Summer Concert Series" in New York City's Central Park June 20, 2014.
‘The X Factor Australia’ Home Visits Recap: Jennifer Lopez in New York, Jessica Mauboy in Sydney [VIDEOS]

By IBTimes AU

“The X Factor Australia” home visits started on Sunday night, with Ronan Keating, Natalie Bassingthwaighte and Redfoo’s groups flying to the U.S. Only Dannii Minogue’s team stayed in Australia for the mentoring session. (Aug 04)


Victoria Beckham (C) watches the men's singles final tennis match between Novak Djokovic of Serbia and Roger Federer of Switzerland on Centre Court at the Wimbledon Tennis Championships, in London July 6, 2014
Victoria Beckham's 6.5M Worth of Diamond Engagement Rings From David, A Posh Life Indeed

By IBTimes AU

Victoria Beckham is definitely leading the posh life as reports claimed she reportedly owns $6.5 million worth of engagement rings from her husband David Beckham. (Jul 30)


A woman holds her new Apple iPhone 5S after buying it at an Apple Store at Tokyo's Ginza shopping district
iPhone 6 New Release Imminent as Apple Enters Mid-August Production with New 24-Karat Gold iPhone 6

By IBTimes AU

Apple's bid for the high end market intensified as reports about a new 24-karat gold iPhone 6 emerge. According to recent information, Luxury maker Brikk has went ahead of the release posting new pre-order system for the gold and platinum versions of the upcoming flagship. (Jul 30)


Nicki Minaj accepts the award for best female hip hop artist during the 2014 BET Awards
Nicki Minaj Vs Rihanna: Nicki Upset about Drake-Rihanna Break-up, Plans to Write Song to Diss Rihanna - Reports

By IBTimes AU

One person who is most hurt about Drake and Rihanna's recent split is rapper Nicki Minaj. The "Anaconda" singer is reportedly furious that Rihanna has broken her pal Drake's heart and she is planning to call out the "Diamonds... (Jul 28)


Khloe Kardashian
Khloe Kardashian Forgives Lamar to Find Peace

By IBTimes AU

Can’t former couple Khloe Kardashian and Lamar Odom just forgive and forget? (Jul 24)


Singer Rihanna accepts the Most Desirable Woman award from actor Kevin Hart at the eighth annual Spike TV's "Guys Choice" awards in Culver City, California, June 7, 2014. REUTERS/Mario Anzuoni
Real Reason for Breakup: Rihanna Was Never Drake's 'First Priority,' Collaboration with Chris Brown Final Blow

By IBTimes AU

Drake told Rihanna she takes a backseat to his music career, 'Diamond' star will not have it. (Jul 14)


Floyd Mayweather Jr. (L) of the U.S. punches at Marcos Maidana of Argentina during their WBC/WBA welterweight unification fight at the MGM Grand Garden Arena in Las Vegas, Nevada, May 3, 2014. REUTERS/Steve Marcus
Boxing News 2014: Like Pacquiao, Mayweather Could Be Hit by IRS If He Pushes With New York Licence for Maidana Rematch

By IBTimes AU

Unbeaten American boxer Floyd Mayweather had previously rejected the growing clamour for a match with Filipino champion Manny Pacquiao. One of the reasons he cited was that the eight-division title holder is only using him to raise money for his tax problems with the Philippine government. (Jul 09)


Duchess of Cambridge, Kate Middleton
The Battle of Modern Day Stylish Cinderella: Duchess of Cambridge Kate Middleton Vs Queen Letizia of Spain [PHOTOS]

By IBTimes AU

Known for their grace and glamour, Duchess of Cambridge Kate Middleton and Spain's newly crowned Queen, Letizia, are two of Europe's most powerful and glamorous women. All eyes are in them whenever they stepped out in public and just like e... (Jul 07)