Thursday, April 17, 2014 10:57 AM 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

Articles About Diamonds

Drake & Rihanna Hot And Heavy PDA During L.A Clippers Game : When Will They go Official?

By IBTimes AU

Rihanna and Drake were seen involving in a major PDA at L.A Clippers game on April 9. The couple that seldom displays their love and affection in the public but did not shy away from hugging and kissing at Staples Centre in Los Angeles. (Apr 11)

MORE TOPICS: LOS ANGELES

Catherine Cox to Retire from International Netball

By IBTimes AU

Catherine Cox, Australia Diamonds and Melbourne Vixens goal shooter, announced on Friday her retirement from domestic and international netball. (Apr 11)

MORE TOPICS: COURT, AUSTRALIA, COMMONWEALTH GAMES

Britain's Catherine, the Duchess of Cambridge, smiles as she carries flowers at the Omaka Aviation Heritage Center near Blenheim
Kate Middleton Wows New Zealand with Great Fashion Sense: Most Stylish Duchess Ever? [PICTURES]

By IBTimes AU

Kate Middleton is definitely the most stylish Duchess Britain has ever seen. The elegant Duchess of Catherine is on a three week tour to New Zealand and Australia currently and has been vowing her fans with the choice of her designer dresses. (Apr 10)

MORE TOPICS: AUSTRALIA, KATE MIDDLETON

Is Rihanna Pregnant with Drake or Chris Brown’s Baby? RiRi Swanks Sexy Stomach on a Date With Boyfriend Drake

By IBTimes AU

Reports about Rihanna's pregnancy are spreading like wildfire. The "small" bump that she was recently spotted with has caused fans and media wondering if the "Diamond" singer is pregnant with her first baby. (Apr 10)

MORE TOPICS: HOLLYWOOD, SILVER

Rihanna (Reuters)
Karrueche Tran Walks Out of Nightclub to Avoid Clash with Rihanna?

By IBTimes IN

Karrueche Tran does not want things to get ugly between her and Rihanna. Chris Brown's girlfriend recently walked out of the Greystone Manor nightclub in Los Angeles as soon as she learnt that RiRi was also present at the club. (Apr 09)

MORE TOPICS: HOLLYWOOD, LOS ANGELES

Catherine, the Duchess of Cambridge, holds her son Prince George after disembarking their plane with her husband Britain's Prince William after arriving in Wellington
Kate Middleton Dazzles in Red as she Visits New Zealand for Royal Tour 2014

By IBTimes IN

Kate Middleton dazzled in red as she touched down at the New Zealand airport. The royal couple has finally embarked on their royal tour, accompanied by Prince George. (Apr 07)

MORE TOPICS: AUSTRALIA, QANTAS, SILVER, KATE MIDDLETON

Is Rihanna Carrying Chris Brown’s or Drake's Child? Songstress Alleged Baby Bump Sparks Pregnancy Rumors; RiRi and Drake’s ‘Sex Tape Leaked' Online?-Details

By IBTimes AU

“Diamonds” singer Rihanna has sparked of pregnancy rumors, recently. Singer Rihanna who is dating rapper Drake is pregnant and has a “small” baby bump, claims a media report. Meanwhile, a viral post titled “Rihanna and Drake Sex Tape Leaked Tonight” is swirling around on Facebook. (Apr 07)

MORE TOPICS: FACEBOOK, HOLLYWOOD

Floyd Mayweather
Boxing News 2014: Mayweather Buys Back Birkin Bag Pawned by Ex-GF Shantel Jackson for $31,000; Retrieves $7.8M Worth of Jewel-Gifts, Bently Continental Car After Break-up

By IBTimes AU

Unbeaten American boxer Floyd Mayweather Jr is getting back from ex-girlfriend Shantel Jackson most of the expensive gifts he has given her such as jewellery and a car. Recently, he even bought buy back a Birkin bag she pawned for $31,000 because she is now reportedly financially broke. (Apr 05)

MORE TOPICS: CALIFORNIA, LOS ANGELES

A shopkeeper arranges diamond jewellery in his stall at the India International Jewellery show, in Bombay July 14, 2005.
Boxing News 2014: Floyd Mayweather Jr Buys 50-Carat Diamond Watch for $1M

By IBTimes AU

Living to his moniker Money May, unbeaten American boxer Floyd Mayweather Jr displayed again to the world how rich he is buying a new 60-carat diamond watch. (Apr 03)

MORE TOPICS: GOLD, NEW YORK

Kane Williamson New Zealand
ICC World T20 2014 Preview: New Zealand vs Netherlands Live Streaming Information: Watch Free Online as Dutch Look to Upset Kiwis

By IBTimes IN

New Zealand will hope for a big victory against teh dangerous Netherlands when they two sides face off in a Group 1 match of the ICC World T20 2014. The T20 game can be watched via live streaming online. (Mar 29)

MORE TOPICS: PAKISTAN, AUSTRALIA, INDIA, SOUTH AFRICA, CRICKET