Diamond Facts

The source of the word "diamond" is the Greek term for "invincible". True to its name, a diamond is the hardest known material to be found in nature. Humans have been appreciating diamonds since the time of ancient India, when they were regarded as religious symbols, at least 3,000 years ago. Because of their durability and strength, not only have diamonds been appreciated for their beauty, they have also been applied in industry. In ancient times, diamonds were used as engraving tools.

Most of the worlds diamonds come from southern and central Africa, where appropriate conditions give rise to the formation of the stones (see A Diamond is Created). In recent years, due to a growing awareness of unstable political situations in parts of Africa, attention has been turned to the source of diamonds (see Controversial Diamonds). Diamonds have also been discovered in Russia, Brazil, India, Canada and Australia, the latter country being known for its exceptionally hard diamonds.

The "Four C-s"- color, clarity, cut and carat weight - comprise the criteria on which a diamond is assessed for its value (see Education).

The diamond industry is well-known for its concentration. De Beers is the most significant company in the diamond industry; it owns most diamond mines and controls many diamond distribution channels. In addition, most wholesale diamond trade and cutting is done at several locations: Antwerp (where a majority of diamonds are processed), New York (where most diamonds are sold), Tel Aviv, London, Surat and Amsterdam.