How Much Diamond Is There Left in the Universe?
As of November 13, 2019, there are approximately 1.2 billion carats of naturally occurring diamonds in the world’s reserves. Only diamond deposits that have not yet been sold to the general public or are not in use are included in this figure.
Is gold more scarce than diamonds?
Diamonds aren’t as uncommon as gold, which is surprising.
Four parts per billion concentrations of gold in the earth’s crust are extremely rare. On the other hand, diamonds have a concentration of 200,000 parts per billion in the Earth’s crust, making them easier to find and more profitable to mine than other precious stones.
Gold, on the other hand, is a pure element that developed during the formation of the planet and after the collision of neutron stars, whereas diamonds are generated from compressed carbon.
Because carbon is considerably more common than diamonds, despite the fact that diamonds take billions of years to create, diamonds are both more plentiful and easier to extract economically once they are discovered.
Although gold is extremely uncommon, the cost of setting up a mine may not be worth it if a vein is discovered. Sometimes there is only a small amount of material left to rescue and then meltdown into jewelry or other useful goods.
Is it still possible to form new diamonds?
Natural diamonds can be up to three and a half billion years old, making them some of the oldest gemstones in the world.
As a result, humans may have to wait a long period before discovering newly formed diamonds in nature. A high-pressure controlled procedure in a laboratory has been used by humans to manufacture diamonds.
Diamonds, like fossil fuels, are a prehistoric artifact that was painstakingly built over millions of years, just to be mined by humans and consumed as rapidly as possible.
Ads for Diamond Products
The cinema industry showed its most beautiful ladies, encrusted in diamonds, with the right encouragement. Consequently, diamonds quickly became a prestige symbol for the wealthy. Perhaps Marilyn Monroe’s rendition of the song, Diamonds are a Girl’s Best Friend, in Gentlemen Prefer Blondes, in 1953, was the height of this trend.
In spite of its success in gaining over customers, De Beers continued to promote their products through advertising. An entirely new marketing strategy was devised for anniversary bands after the discovery of diamonds in the Soviet Union. Small but high-quality diamonds were found in this find, and they were put to good use.
Taking Over the World’s Market
The diamond industry was greatly benefited by De Beers. De Beers, on the other hand, is not without its flaws. De Beers gained dominance of the rough diamond supply as diamonds were discovered in other regions of Africa and South America. De Beers. Murder and kidnapping are alleged to have been utilized to seize control.
The raw diamond supply was controlled by De Beers for the better part of three decades as a near-monopoly. Keeping an eye on market conditions, they only issued as many rough diamonds as were necessary to meet demand at the time.
Of course, this resulted in an increase in the price of diamonds and an impression of their rarity. Actually, De Beers mined a lot more raw diamonds than they ended up selling. Uncut diamonds were stored in a massive warehouse near London. The outcome was that the United States and a few other countries banned them from doing business.