Friday, October 31, 2014 9:02 PM 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, 2013 - Independent

Big Spender: The $30 million cake

Sep 26, 2013 - 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

judd nelson
Judd Nelson's Death Hoax: 'Breakfast Club' Actor Reportedly Found Dead In West California , Fans Freak Out On Fake Report

By IBTimes AU

Judd Nelson has recently finished his stint with Fox series "Empire." The actor is hail and hearty. (Oct 30)


Coders Rest In The Office Of Mojang, A Small Swedish Company Behind The Wildly Popular 'Minecraft' Video Game, In Stockholm
Minecraft 1.8.1 Pre-Release and New Screenshots Show Off Features, Minecraft Realms Coming With More Content

By IBTimes AU

4J Studios and Mojang have provided new sneak peeks and leaks for the upcoming Minecraft TU 17 for consoles and pre-release of the Minecraft 1.8.1. (Oct 28)


Singer Rihanna Arrives at the 2014 MTV Movie Awards in Los Angeles
Rihanna Spotted In Men's Underwear: Reportedly Similar To Chris Brown's Underwear

By IBTimes AU

Rihanna was reportedly seen flaunting a men'w underwear similar to that worn by Chris Brown when the duo was dating. (Oct 25)

‘Dancing With The Stars’ (DWTS) Season 19 (2014) Week 6 Spoilers, Recap: Top 8 Performers Revealed And A Shocking Elimination

By IBTimes AU

“Dancing With the Stars” Season 19 (2014) Week 6 hosted Pitbull-special segment on Oct. 20, 2014. The remaining nine contestants performed and faced the evaluation leading to elimination. Head inside for recap and spoilers. (Oct 21)


A member of the CG Environmental HazMat team disinfects the entrance to the residence of a health worker at the Texas Health Presbyterian Hospital who has contracted Ebola in Dallas, Texas, October 12, 2014.
Ebola Spreads Through Red Cross Vaccine - Ghana Nurse ‘Testifies’; The Truth About Red Cross

By IBTimes AU

A Ghana nurse is testifying that Ebola is spread through vaccine (Oct 20)


Lorde, Sol3 Mio Lead New Zealand Music Awards Nominations

By IBTimes AU

Lorde and Sol3 Mio have five nominations each. (Oct 17)

Rapper Kanye West arrives at a fashion designer shop in Paris May 22, 2014.
Kanye West Wants To Design A Diamond Ring For North West's Little Wedding Ring Finger

By IBTimes AU

Kanye wants to be the first man to put a ring on his baby girl's finger and he's not wasting any time in doing it. (Oct 17)


WBC/WBA welterweight champion Floyd Mayweather Jr. sits in his corner between rounds during his title fight against Marcos Maidana of Argentina at the MGM Grand Garden Arena in Las Vegas, Nevada
Prince Jackson Joins Money Team, Makes Mayweather Spending Look ‘Small Time’ In Comparison

By IBTimes AU

Floyd Mayweather Jr's Money Team has a new member and he is even richer than Money May himself. Proof of Prince Jackson's membership is his big black truck emblazoned with large Money Team stickers seen in Calabasas over the weekend. (Oct 08)


U.S. Singer Miley Cyrus Performs At The O2 Arena In Central London.
Miley Cyrus Slammed For Destroying Led Zeppelin Song, Fans React To Her Cover Of 'Babe I'm Gonna Leave You'

By IBTimes AU

Miley Cyrus lost some Led Zeppelin fans with her rendition of the classic 1969 song which she posted on SoundCloud. (Sep 16)

A model poses with a vivid yellow 100.09 carats diamond during an auction preview at Sotheby's in Geneva
Rare Blue Flawless Diamond, Costing $25.6 Million, Is The Newest Attraction At The Natural History Museum

By IBTimes AU

One of the world's rarest gems, 'the Blue Moon Diamond' has been added to the National History Museum's 3,000 gemstones collection. (Sep 15)