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'Trillions of carats' lie below a 35-million-year-old, 62-mile-diameter asteroid crater in eastern Siberia known as Popigai Astroblem. The Russians have known about the site since the 1970s.
Russia has just declassified news that will shake world gem markets to their core: the discovery of a vast new diamond field containing "trillions of carats," enough to supply global markets for another 3,000 years.
They decided to keep it secret, and not to exploit it, apparently because the USSR's huge diamond operations at Mirny, in Yakutia, were already producing immense profits in what was then a tightly controlled world market.
Originally posted by grey580
reply to post by AGWskeptic
Diamonds are a funny thing.
They really don't cost that much.
But since it's jewelry sold at the mall.
The price is jacked up about 4 times the wholesale cost.
So you always get suckered into paying more than it's worth.
Originally posted by magma
High grade diamonds are not a life or death item. So the bottom of the market ends up @ thousands below what it is today.
Just means I will not be buying diamonds.
Will be good for manufacturing though, might bring prices down for construction, drilling, cutting, might stimulate growth.
Originally posted by AGWskeptic
DeBeers was already aware of these diamonds if the site is real.
They pay extra to keep diamonds off the market to keep the price artificially high.
They're some evil bastards thats for sure.
Originally posted by KilrathiLG
sorry if this dosent make sense as science isnt my forte....
so is the reason that they have so many diamonds because of the meteror that hit and thus made all the diamonds on impact because of the meteor alone?
or were there other factors like the cold of the region and soil factor in with the meteor as well? i ask this because my uncle lives near flagstaf and as im visiting him soon and evidently their is a crater there www.philipcoppens.com... so i guess i just wanna know if looking for diamonds when im in the area would be a good idea or were the conditions from the strike in Siberia a geological uneque event?