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From: Bill Sloman <bill.sloman@ieee.org>
Newsgroups: sci.electronics.design
Subject: Re: OT: Marcury has a layer of diamond 10 miles thick, NASA
 spacecraft finds
Date: Sat, 3 Aug 2024 02:09:59 +1000
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On 3/08/2024 12:28 am, Ralph Mowery wrote:
> In article <v8iihu$2q9s6$1@dont-email.me>, bill.sloman@ieee.org says...
>>
>> To jewellers. We mine 27 metric tons of diamonds, and make 900 metric
>> tons of synthetic diamonds,essentially all for industrial applications.
>>
>> We wouldn't be doing that if industrial diamonds were "almost
>> worthless". The fact the gem-quality diamonds can be sold for a lot more
>> money than industrial diamonds doesn't make industrial diamonds
>> worthless - if gem-quality diamonds fell out of fashion we'd still be
>> digging up and making a lot of industrial diamonds.
> 
>  From what I could find in a quick search the industrial diamonds are
> only about 10 to 20 dollars per carat versus the several thousand dollars
> the jewel  quality ones would cost.  That is where I base my
> 'worthless' price at.

Cheap isn't the same as worthless.

> Industry still uses a lot of them in many processes so they are valuable
> for use but worthless for money cost.

80% of mined diamonds - 135 million carats - are fit only for use as 
industrial diamonds, but that's still a couple of billion dollars at 10 
to 20 dollars a carat. The 20% of mined diamonds that can be sold as 
gemstones are worth about hundred times more per carat, but only twenty 
times more in aggregate. We synthesise 33 times more iduatrial diamonds 
than than we dig up, so the market for industrial diamonds is clearly 
bigger than the market for gemstones.

Nothing would stop working if the gemstone supply was cut off, but 
industrial diamonds keep industry working.

The gemstone business is a luxury trade that piggy-backs off the 
industrial diamond supply chain.

Diamond mining supports several rather unpleasant regimes

https://en.wikipedia.org/wiki/Blood_diamond

and rich women really ought prefer synthesised diamonds.

-- 
Bill Sloman, Sydney


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