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Diamond Myths
Satellite technology, in the beginning designed to find out possibly oil reserves, also confirmed the geology possibly to hold diamonds. As a result, new discoveries started out to multiply. For example, Australia have become one of the first developed nations to find out essential diamond resources. De Beers made a cope with them to distribute all of the hard, besides for the very rare red diamonds. In 1996, Australia ended its association with De Beers.
De Beers moreover made a deal with the Soviet Union to distribute their difficult permit their agreement expire and started to sell the diamonds themselves.
In 1999, the De Beers London stockpile come to be worth $5.2 billion, solving before a U.S. Federal court. This allowed them to all over again sell diamonds in the U.S. (In 2012, the U.S. Supreme Court refused to don't forget an appeal through De Beers closer to a category movement agreement regarding various unfair business agency practices).
With explorations of numerous new net websites, more diamond deposits will in all likelihood be located in the close to future. De Beers although controls about 35-40% of the diamond tough deliver. So far, the opportunity suppliers were content material material to promote at the identical expenses as De Beers. However, if the regulation of supply and demand ever catches up to the diamond market, prices will in all likelihood drop substantially. What should take area subsequent is difficult to inform. De Beers has a massive stock of uncut diamonds and holds an top notch feature for a fee war.
Diamond Myths and Misconceptions behind the upward push of diamond’s recognition, allow’s debunk some well-known diamond myths.
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