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Apparently, as reported by Time Magazine in September 2012, Russia is home to a location in Siberia where a meteorite struck the earth about 35 million years ago. This action created impact diamonds, which are best used as industrial diamonds.

From the Geology Web site:

"This flash formation converted flakes of graphite in the Archeangraphite-garnet gneiss into diamond. Many of the diamonds produced were small polycrystalline stones that are approximately the same size and shape as the graphite flakes in the gneiss. Most are tiny stones under 2.0 millimeters in size that might be suitable for producing diamond abrasives."

This will have little if any impact on the gem-quality diamond market.

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8y ago
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Q: How big Russia's diamond reserves?
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