Miner in Guinea Digs Up 182 Karat Diamond CONAKRY, Guinea - There's lucky: Finding a diamond when you're a young miner sweating it out in the west African forests of Guinea. And there's too lucky: finding a 182-carat stone, that everyone — starting with the government of Guinea — wants a piece of. Result: the stone — four times the size of the famous Hope diamond — was tucked away Monday deep in the vaults of Guinea's Central Bank, no pictures, please. And the 25-year-old miner who found it, if not exactly in hiding, was making himself scarce. No interviews, please. State radio in impoverished, mineral-rich Guinea announced the find last week. Guinea mining industry officials confirmed Monday that the newly dug-up stone — though not flawless — was a fortune in the rough. "It's a quite brilliant diamond, of good enough quality despite having numerous veins. One thing is certain — it's worth millions of dollars," a top official with the Aredor mining company, Guinea's biggest diamond operation, told The Associated Press. The Guinea gem is four inches by 1.2 inches high — roughly the size and shape of your average computer mouse. The Hope diamond, by contrast, is 45.52 carats. The largest diamond ever found, the Cullinan, was a gawdy bowling-ball size beauty at 3,106 carats in the rough. Free-lance discoveries of big diamonds in west and central Africa typically touch off fierce, fast-buck feeding frenzies, pitting the finders and first-round buyers against would-be moneymakers higher up the food chain. Finders, terrified, have been known to flee into the bush rather than dare bring their find to market. In Congo in 2000, the government confiscated a 265-carat stone and jailed its local buyer for a month, freeing both only after massive public protests. That stone eventually went at auction in Israel for an industry-estimated, unconfirmed $13 million to $20 million. Industry officials and diplomats in Guinea on Monday would discuss the find here only on condition of anonymity. The 25-year-old, who was not identified, struck his shovel on the stone at a dig in southeast Guinea, bordering Ivory Coast and Liberia (news - web sites). Authorities gave few other details of the diamond's first hours and days in the light. It was clear, however, that the rock's time with its discoverer was brief. By Monday, the gem was in the capital, Conakry, behind steel doors at the guarded Central Bank. The young miner had no choice, a Western diplomat said — he might have been killed if he hadn't turned it over to the authorities. An Associated Press reporter, visiting the area of the find, was unable to locate the young miner. Diamonds, along with aluminum ore and gold, are among the top exports of Guinea, a resource-rich but virtually undeveloped country whose people live on less than a dollar a day. The Aredor mining company, using heavy equipment in high-dollar operations, turns up an average of 30,000 carats each year. Small-scale miners like the 25-year-old, with no more overhead than the cost of a spade, produce 300 to 400 carats a year here. The 182-carat stone came from a site owned by the government, and leased to miners. Miners are believed to slip many smaller finds into their pockets, taking the stones out for smuggling and avoiding the government and any cuts it would take. Especially since it was found on government land, the gem's discoverer may have believed bypassing Guinea's officials too risky in this case, experts said. Authorities were to inspect the stone later this week and offer an official estimate. The finder — if luck holds — would likely receive an undetermined percentage of that, industry officials said. It is terrible the way these young miners are treated and the pay they receive for such expensive gifts. This is one reason I'm contemplating NOT buying a diamond for my girl's engagement ring. This is still an impressive find though.
Well, I don't think I'll actually go through with it but it is awful. My two earrings I have are about 3 karats each of CZ and I checked how much real diamond earrings the same size would cost and lowest price I found was $30,000. My girl's ring will be the only diamond I buy, ever.
Diamonds to get 'ethical' label http://news.bbc.co.uk/2/hi/business/3834677.stm Diamonds that are "clean" will have a new label after key players in the business introduced the "5th C" stamp. The new "ethical" label for diamonds from a conflict-free origin will come into force at the end of the year. An agreement was signed by Antwerp's federation of diamond dealers, Global Witness, and the association of miners and diamond-cutters (ICM). Diamonds are already certified by four Cs for carat, colour, clarity and cut, giving an overall measure of quality. The fifth C will guarantee the stone is not a "blood" diamond, funding war or one that has been mined using child labour. Trafficking "It is an important turning point but there is still a lot of work to be done in stamping out illegal trafficking in diamonds," said Alex Yearsley, a spokesman for Global Witness, a non-governmental organisation. Sales of the stones have dropped from between 15% to 20% in Europe since 1994. Professionals in the business have been concerned about its image and competition from synthetic diamonds
Here's a fascinating article about the history diamonds: http://www.theatlantic.com/issues/82feb/8202diamond1 Cliffs: Diamonds are NOT a traditional stone for wedding rings -- that's a manufactured perception through marketing. It used to be (100+ years ago) that diamonds were not all that prized, but a strong marketing campaign by DeBeers and others have turned diamonds into the "traditional" stone of romance, wealth, and power. But that tradition is all made up!
Which is why if I ever decide to get married, I will tell my partner to NOT buy me a diamond engagement ring.
Right on. I've successfully convinced my girl of the same. She's thinking of ring tatoos though...I'm not sure about that.
I'm not asking for a diamond if I ever get engaged, I've already got one as a family heirloom. All he's gotta buy is the setting
Imagine Diamonds falling from the sky... http://www.spacedaily.com/news/carbon-99d.html It makes me think, if we found doamnds and gold on other planets, what would happen to the United States Gold Reserve. Would it lose value. And what would the impact be....
Paying big bucks for a diamond is stupid. The DeBeers cartel controls the supply and pumps up the demand like promoting the rule if thumb that a wedding ring should costs 2 1/2 times your monthly income. But girls have been duped and arguing logic with them is futile, they want the ring. So, get her Moissanite. (http://mineral.galleries.com/minerals/elements/moissani/moissani.htm) It costs about 1/3 as much and nobody short of her pawn shop operator will ever know the difference.
