Miner uncovers 182 carat diamond in Guinea, West Africa

[Caiylania]

Transcripted from Stars & Stripes newspaper:

"... the stone, four times the size of the famous Hope diamond, was tucked away Monday deep in the vaults of Guinea's central Bank........ industry officials confirmed Monday that the newly dug stone - though not flawless - was a fortune in the rough.

'It's a quite brilliant diamond, of good enough quality ..... One thing is certain - it's worth millions of dollars," a top official told the Associated Press.

... 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 discovereer was brief.... Authorities were to inspect the stone later this week and offer an official estimate. The finder - if luck holds - would likely recieve an undetermined percentage of that officials said."

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Can I have it?

Wonder if they'll put it on the mantle next to the Star of India. That thing is fucking SHINY!

[MPSorc]

the government officials said the guy would have his cut, prolly about $100, 000 after taxes.

[Skirmisher]

Got to love the government!
:rant:

[Drew]

All of those really enormous diamonds are usually pretty ugly, if someone found a flawless or near flawless white or yellow one, man, they'd be in the money.

[Satira]

I hired that miner to get the stone for my engagement ring. Therefore, it is mine.

[Axhinde]

Reminds me of those 3 little kids who went out playing one day in Africa and found a massive diamond almost the same size.

[Souzy]

You know how hard the African's there work to dig in those shit holes? The government will most likely rip them off.

[Artha]

Government: "What diamond?"

[Atlanteax]

Originally posted by Artha
Government: "What diamond?"

BINGO!!! :lol:

[El Burro]

Diamonds = expensive only because DeBeer's (sp?) keeps most of them in a vault to not flood the market.

Diamonds != rare

[Drew]

El Burro is exactly right, here's an article from The Atlantic Monthly published in 1982 :http://www.theatlantic.com/issues/82feb/8202diamond1.htm
It's a good long read but very interesting and the issues they cover there are still the same ones today. Mainly DeBeers controlling the entire diamond market and how diamonds are not really rare at all. Interestingly, rubies are actually rarer than diamonds even though they sell for less.

Anyway, if anyone is interested the article makes for a good read.

[Caiylania]

Very interesting. But not uncommon.... that is how currency works. The more money a government puts out, the less its worth.

[Drew]

Originally posted by Caiylania
Very interesting. But not uncommon.... that is how currency works. The more money a government puts out, the less its worth.

The difference being that it's transparent, everone knows how much currency governemntal bodies put into circulation. Personally I'm all for DeBeers conducting business anyway they please, but people should know what they are "investing" in as well. If you are buying a diamond for a wedding you shouldn't plan to sell it anyway.

actually debeers announced a few years ago that they would stop controlling the Diamond market (and made more money in the process)