Thursday, October 23, 2014 12:45 PM EST

Diamonds

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

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

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Lorde
Lorde, Sol3 Mio Lead New Zealand Music Awards Nominations

By IBTimes AU

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

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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)

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Prince Jackson Joins Money Team, Makes Mayweather Spending Look ‘Small Time’ In Comparison

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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)

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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'

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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)

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Gold-Plated And Diamond-Studded iPhone 6 By Alexandar Amosu Now Available For Pre-order

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Alexander Amous, the popular luxury product manufacturer, is selling gold- and diamond-studded versions of the new iPhone 6. Another brand, Falcon Luxury, is selling premium versions of iPhone 6 Plus. (Sep 11)

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Zsa Zsa Gabor Joked About Joan Rivers' Death /File photo/REUTERS/LUCAS JACKSON
Joan Rivers Dead At 81: Hilarious Quotes & Famous One Liners, ‘At my funeral, I want Meryl Streep crying in five different accents’

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Dead at 81, legendary comedienne Joan Rivers passed away on Thursday, Aug. 4, surrounded by family and friends. (Sep 05)

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People Stand Near 'Sims 4' Game Characters On A Wall During The 2014 Electronic Entertainment Expo, Known As E3, In Los Angeles
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The list also features “Danganronpa 2: Goodbye Despair,” “Don't Starve: Giant Edition,” “Velocity 2X” and “Warriors Orochi 3 Ultimate.” (Sep 02)

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