Russia Sitting on Massive Diamond Find Since the 1970's

  • Thread starter zoobyshoe
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Found this interesting piece which has more info on Russia diamonds: http://www.mining-technology.com/features/featurediamonds-russias-secret-stash-siberia-crater/
From your link:

"No value" in mining industrial diamonds

Russia could now supply diamonds to "the entire world for 3,000 years", according to Pokhilenko.
"The market already has a more easily-accessible substitute for this material: lab grown industrial diamonds."
But how valuable are these Russian reserves? Currently, the cost of mining far outweighs the asking price for industrial diamonds, and profits can only be made from selling gemstone diamonds.

Furthermore, the market already has a more easily-accessible substitute for this material: lab grown industrial diamonds.

Tim Worstall, fellow at the Adam Smith Institute, a think-tank based in London, UK, agrees. "I wouldn't doubt at all that there are the reported trillions of carats of diamonds in that asteroid impact crater. However, I am a great deal less convinced that the find will be of any value: or that it will ever be mined," Worstall said in an article published in Forbes.

"For the value of any mineral deposit is not the value of the minerals in it. It's the value of those minerals minus the cost of extracting them. With gemstone diamonds this doesn't usually matter. But these aren't gemstone diamonds."

Really, it all comes down to how concentrated they are. That depends on how large and deep the graphite deposit was, among other things. The crater is 60 miles in diameter. If the asteroid punched the whole deposit down to the bottom of the crater, they could be extremely concentrated. If the asteroid gave the deposit a glancing blow, it could have spread the resulting diamonds for hundreds of miles. I wish the articles mentioned something about the concentration.
 

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