3 9568 3033

Diamond Truth

Diamond Truths You Should Know By Diamond Specialist

Below are 5 crucial diamond truths by diamond specialists

Diamonds are older than life on Earth.

Diamonds were formed about one to three billion years ago, long before humans were on Earth. Research reveals that diamonds originate 100 miles under the Earth’s surface but were forced up towards the Earth’s surface by powerful volcanic eruptions that appeared 300-400 million years before.

This indicates that Diamonds were present below the Earth’s surface even before Dinosaurs. As an outcome, diamonds are one of the oldest items that any of us will ever possess.

Diamonds are rare and they're getting rarer.

The diamonds recovered in a year peaked in 2005 and is likely to decrease over the next decade or so. The belowground volcanic pipes that hold the diamonds are named diamond-bearing kimberlites.

Diamond-bearing kimberlites are extremely hard to find and most of the diamonds recovered these days come from kimberlites that were discovered decades ago. Therefore, diamond production all around the world is slowly dropping, making diamonds rarer as every day passes.

Statistics show that the annual recovery of 1-carat diamonds will fill up one practice ball and the annual recovery of 5-carat diamonds and/or above, is possible to only fill up one basketball. This goes to indicate that diamonds are pretty scarce.

Demand for diamonds is stronger than ever.

According to news, 2017 was the most powerful year ever for diamond jewellery in the world. Millennial customers happen to represent 59% of the value of diamond jewellery’s total demand while amounting to just a quarter of the total population.

Millennials have a stronger interest and look to value products that offer elements like rarity, authenticity and preciousness, which indicates as to why millennials define such a large ratio of total diamond demand, as nothing says rare, authentic and special like a billion-year-old diamond.

In a world where things are getting increasingly fast and synthetic with the growth of technology, diamonds carry a powerful and deep, emotional purpose.

"Conflict diamond" Diamond Truth belongs to the past.

Conflict diamonds, also known as blood diamonds, create from war-torn countries, usually from the African continent. Conflict diamonds are usually utilised in these countries as mediums of trade for weapons to continue battling and it has been deemed illegal to buy or sell conflict diamonds.

However, these diamonds are now a thing of the past, African rebellions have receded and strict regulations have been implemented within the industry to ensure that no diamonds coming from conflict-zones are traded in the market.

These rules have confirmed that 99.8 per cent of diamonds are Kimberley Process compliant, and nearly all major producers have put in place precautions to ensure their diamonds are produced responsibly.

The diamond industry makes a big contribution to the world.

Statistics show that the diamond industry helps the livelihood of 10 million individuals worldwide, including 1.5 million small-scale miners and their families in Africa as well as South America, who supply the world with 15 per cent of its diamonds. A wonderful example of the contribution of diamonds to the world is Botswana. Botswana has changed from a poor country to a middle-income country.

Every child in Botswana is getting free schooling till the age of 13 all because of the diamond earnings that are generated, which amounts to one-third of the nation’s GDP. Another instance would be the Indian state of Gujarat.

In Gujarat, the diamond sector independently employs about 1 million people and funds schools and hospitals. Diamond mining also goes small environmental footprint, and no harsh chemicals that can cause any damage to the land or air quality are used to recover the diamonds from under the surface.

All mining firms are monitored by governments and local communities. For any other queries regarding diamonds or diamond jewellery visit Us. We’re a diamond specialist. Also read our latest article on Diamond History.