Russia Finds 'Trillions' of Carats

[the-Unexpected-Soul]

http://www.youtube.com/watch?v=cL9phVA4_Hc&feature=player_embedded

A diamond crater from outer space, kept secret since the Soviet era, has been revealed to the world for the first time. The meteorite crater located in Siberia is said to contain trillions of carats, but what is their real value and why were they hidden for so long?

http://www.mining-technology.com/features/featurediamonds-russias-secret-stash-siberia-crater/.... LINK

[Christierella]

Very cool story! It's interesting especially since they've known about it since the 70's.

[libstaK]

Hmm, me thinks Russia is coming in from the Cold in a big way, a very good time to be found hoarding some solid wealth in this world.

[Grey14]

Hmm, me thinks Russia is coming in from the Cold in a big way, a very good time to be found hoarding some solid wealth in this world.

Problem with this though is that they are not jewelry grade diamonds. They are more industrial grade diamonds which are currently man made for the industry. It is currently cheaper to buy man made industrial diamonds than actually mine the diamonds Russia has. Also with there being so much of them if they could mine them profitably it would flood the market and drive down the price even more thus making them unprofitable to mine again.

[+and-then]

Problem with this though is that they are not jewelry grade diamonds. They are more industrial grade diamonds which are currently man made for the industry. It is currently cheaper to buy man made industrial diamonds than actually mine the diamonds Russia has. Also with there being so much of them if they could mine them profitably it would flood the market and drive down the price even more thus making them unprofitable to mine again.

I thought diamonds typically were found at the site of ancient volcanos....

BTW, Grey 14 AWESOME avatar pic....Beagle Pups RULE!!!!!