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Russia reveals shiny state secret: It's awash in diamonds
09-17-2012, 09:20 PM #1
Octo Mother Superior
Posts:42,992 Threads:1,473 Joined:Feb 2011
Bad news for De Beers' empire. coffeetime.gif



Moscow

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.

The Soviets discovered the bonanza back in the 1970s beneath a 35-million-year-old, 62-mile diameter asteroid crater in eastern Siberia known as Popigai Astroblem.

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.

According to the official news agency, ITAR-Tass, the diamonds at Popigai are "twice as hard" as the usual gemstones, making them ideal for industrial and scientific uses.

The institute's director, Nikolai Pokhilenko, told the agency that news of what's in the new field could be enough to "overturn" global diamond markets.

http://www.csmonitor.com/World/Global-Ne...n-diamonds
09-17-2012, 10:48 PM #2
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
What can go wrong? chuckle.gif

Biere.
09-17-2012, 10:52 PM #3
Octo Mother Superior
Posts:42,992 Threads:1,473 Joined:Feb 2011
İmage


chuckle.gif
09-17-2012, 11:23 PM #4
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
İmage

Biere.
09-17-2012, 11:26 PM #5
Octo Mother Superior
Posts:42,992 Threads:1,473 Joined:Feb 2011
chuckle.gif


I expect a Putin photo op with diamonds here shortly
09-18-2012, 12:33 AM #6
Upāsaka Member
Posts:1,383 Threads:252 Joined:Feb 2011
There goes the plan for paying gazprom in diamonds to keep europe warm this winterchuckle.gif
09-18-2012, 03:02 AM #7
Octo Mother Superior
Posts:42,992 Threads:1,473 Joined:Feb 2011
Svetlana prowdly presents:

09-18-2012, 06:55 AM #8
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Fellow I know http://www.londongoldbuyer.com/ says diamonds under 20 points (1/5 of a carat) are worth about $1/ point. So that .2 carat diamonds your b/f paid $500 for is worth maybe $20. chuckle.gif
09-18-2012, 10:08 AM #9
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,393 Threads:1,439 Joined:Feb 2011
Oh yeah, the price on those puppies are kept artificially high. The are essentially worthless when you get right down to it.

wonder.gif
09-18-2012, 12:24 PM #10
Upāsaka Member
Posts:1,383 Threads:252 Joined:Feb 2011
Supply and demand! Diamond drill bits have value, though have no idea of the percentage used in industry to jewllery.
09-18-2012, 04:28 PM #11
Kreeper Griobhtha
Posts:10,782 Threads:647 Joined:Feb 2011
That's not news. I've known about the Russian diamonds for many years. I wonder why they are acting like this is breaking news.

hmm.gif



Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
09-18-2012, 06:52 PM #12
Octo Mother Superior
Posts:42,992 Threads:1,473 Joined:Feb 2011
Russia has plenty of diamond mines already, they just didn't want to reveal this huge find until now. Or maybe you had some inside information... 13.gif


Quote:Russia accounts for approximately 21% of global diamond production, most of which is mined in Sakha Respublikata (The Sakha Republic, Yakut, Yakutia) of Siberia, just below the Arctic circle.

http://www.allaboutgemstones.com/diamond...ussia.html
09-18-2012, 07:29 PM #13
UniqueStranger Art in my heart
Posts:15,049 Threads:428 Joined:Jun 2012
(09-17-2012, 09:20 PM)Octo Wrote:  Bad news for De Beers' empire. coffeetime.gif



Moscow

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.

The Soviets discovered the bonanza back in the 1970s beneath a 35-million-year-old, 62-mile diameter asteroid crater in eastern Siberia known as Popigai Astroblem.

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.

According to the official news agency, ITAR-Tass, the diamonds at Popigai are "twice as hard" as the usual gemstones, making them ideal for industrial and scientific uses.

The institute's director, Nikolai Pokhilenko, told the agency that news of what's in the new field could be enough to "overturn" global diamond markets.

http://www.csmonitor.com/World/Global-Ne...n-diamonds


De Beers may still have it happening.

http://www.diamondne.ws/2012/09/18/forev...-festival/

09-18-2012, 08:44 PM #14
Kreeper Griobhtha
Posts:10,782 Threads:647 Joined:Feb 2011
(09-18-2012, 06:52 PM)Octo Wrote:  Russia has plenty of diamond mines already, they just didn't want to reveal this huge find until now. Or maybe you had some inside information... 13.gif


Quote:Russia accounts for approximately 21% of global diamond production, most of which is mined in Sakha Respublikata (The Sakha Republic, Yakut, Yakutia) of Siberia, just below the Arctic circle.

http://www.allaboutgemstones.com/diamond...ussia.html


coffeetime.gif

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor



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