Loose Diamonds
A diamond is a popular mineral and one of the two renowned forms of carbon. It is only in great depths between 75 and 120 miles below the earth's surface do this exquisite gem form. Most of these diamonds were first brought to the earth's surface through volcanic eruptions more than 2.5 billion years ago. Some were then washed away by floods reaching the rivers, oceans and beaches. India is the site where the first diamond mines were found way back in 500 B.C. Since then, this Asian country has supplied the world's loose diamond needs for more than 2,000 years. History records also confirmed the use of diamonds as religious icons in India around 2,500 years ago and as an engraving tool. The loose diamond has likewise proven its usefulness in jewelry and other industrial applications because of its hardness and ability to disperse light in varied colors.
From the ancient Greek word adamas, which means invincible, the diamond's popularity soared since the 19th century due to high supply, enhanced techniques in cutting and polishing, world economic boom and creative advertising strategies. Each year, about 130 million carats or 26,000 kilograms of this gem worth nearly US$9 billion are mined from the different parts of the world. Major sources of loose diamonds today include Australia, Botswana, Russia, South Africa, Zaire, Brazil and Canada. India still produces this mineral but only in small percentage.
The diamond undergoes several stages from the time it is mined until it reaches the skillful hands of craftsmen who cut the stone and create it into fine jewelry.
Mining Loose Diamonds
Loose diamonds, being buried in great depths, are usually extracted through the use of Kimberlite pipes. A pipe mine is made up of a huge vertical shaft with tunnels going through the main pipe. To get at least one carat of loose diamonds, a mine as deep as 3,500 feet must be dug and more than 200 tons of rock, gravel and sand must be blasted, crushed and processed. Jet engines are normally used to get diamonds from the ground. Out of the diamonds taken out, most are used for industrial applications while only 20 percent are used in jewelry.
Marketing of rough supply
The Central Selling Organization (CSO) of De Beers is responsible for acquiring a huge part of the diamond rough supply in the world. De Beers owns the oldest and biggest diamond mining company worldwide. Following its acquisition of rough diamonds, the company then classifies the stones into more than 5,000 different categories. After the sorting and pricing comes the selling of the rough to manufacturers. Ten times each year, De Beers sells rough diamonds to 150 site holders that usually lasts for one week. The rest of the rough supply worldwide is marketed to private buyers and via private auctions.
From Rough to Polished Loose Diamonds
After the selling of rough diamonds, the stones then go to the cutting centers mostly in Israel, Bombay, Johannesburg, Antwerp and New York. Once it reaches the cutting centers, the rough diamond is then evaluated to determine the best way to cut it to reveal its true value. Great considerations are made as to the stone's shape, size as well as the number and locations of its internal inclusions. Next, the rough is marked and then either sawed or cleaved before going to the hands of several cutters. Then, it is ready for polishing and selling. Learn more about rough to polish - a loose diamonds journey
Selling Loose Diamonds
Following the manufacturing process, loose diamonds are than sold to jewelry makers and loose diamond wholesalers. Usually, the wholesalers in turn sell the loose diamonds to jewelry wholesalers and to retail jewelry shops. These days, though, the manufacturers have a direct contact to the end customer.
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