Russia to dominate global diamond market?

The Russia could soon become dominant force in global diamond market, thanks to a huge Siberian source of diamonds that was formed by an asteroid impact 35 million years ago, a crater located in the Arctic Circle northeast of the most northern Russian city of Norilsk.

Russian sources claim that we are talking here about gigantic deposit of diamonds, containing many trillions of carats. Russian government already announced that they will send an expedition in 2013 to the crater in order to evaluate the profitability and total costs connected with diamond mining at this site.

The quality of these diamonds was already known in 1970s but the source was classified because the former USSR was involved in the production of synthetic diamonds.

Russia is now turning the other page and according to Russian Academician Nikolai Pokhilenko „the first results of research were sufficient to talk about a possible overturn of the entire world market of diamonds'.

These super-hard diamonds will find much better use in different industries such as metalworking, production of efficient semiconductors, space technologies, etc than becoming a part of different jewelry.

Scientists estimate these that these diamond reserves would be enough for the entire world for 3.000 years, and could kickstart another technical revolution.