Friday, August 1, 2014 7:41 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

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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
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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)


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New DLCs have been released for “Watch Dogs,” “Forza Motorsport 5” and “Call of Duty: Ghosts,” which will feature new missions, new cars, and new skins and weapons for the respective games. (Jul 03)


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Khloe Kardashian & Lamar Odom Romance: Khloe's Alleged Love Message to Push Away French Montana - Reports

By IBTimes AU

Is Khloe Kardashian still in love with ex-husband and NBA player Lamar Odom? Though the "KUWTK" star is understood to have moved on with French Monatan. She recently, on June 29, posted a cryptic message, which hinted, towards her relationship with Odom. (Jul 02)


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Khloe Kardashian $25K Ring from French Montana, Alleged Couple Shares Hugs and Kisses

By IBTimes AU

It seems Khloe Kardashian has finally found her right man. Alleged boyfriend French Montana gifted the "KUWTK" star a $25 K ring on her birthday, says reports. The couple reportedly stopped at Rafaello & Co before heading for Khloe's birthday bash on June 26. (Jun 30)