Russia touts trillion-carat diamond discovery

It would appear the industrial diamond market may be turned on its head shortly.

After more than 30 years of essentially ignoring a massive diamond deposit – a find whose scale dwarfs anything discovered previously anywhere in the world – Russian scientists have stepped up research on the Popigai Crater, according to Agence France-Presse.

Just how big is the deposit, located in the far north of Siberia? It is believed to hold trillions of carats of diamonds.

By comparison, Russia’s main diamond-mining region of Yakutia has known reserves of 1 billion carats, the wire service reported.

Yet, the impressive discovery has been known in Russia for decades. Soviet scientists uncovered the 60-mile Popigai Crater, left by a huge asteroid in Siberia 35 million years ago, many decades ago.

At the time, the impact zone of the crater revealed “a fine material that was actually super-compressed diamonds caking the permafrost,” according to Agence France-Presse.

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