Lecture 30 Summary and Notes

Some questions for the day...

1. What are the two different types of diamond deposits? How do they differ from the viewpoint of a prospector? How does the morphology of the mine differ based on type of deposit? Which type of deposit depends on the high density of diamonds relative to most other common crustal materials?

2. What is the evidence that there has been a kimberlite eruption in Rockbridge County? How can you be certain that this kimberlite is not diamondiferous?

3. What is unique/special about the formation processes, physical properties, and societal valuation of diamonds out of all of the gems, and other MSI that we have and will discuss in this class?

4. How has the advertising of diamonds evolved since the origin of the "A Diamond is forever" campaign in the late 1940s. How is the marketing/advertising of diamonds an example of a manufactured desire? How does the role of a diamond in the US engagement ritual factor in this manufactured desire? What was the average retail price for a diamond engagement ring in 2011? What is the "standard" equation used in the the calculation of how much should be spent on a diamond engagement ring? Who created this standard and why was the standard created in the first place? According to www.engagementringcalculator.com, will a proposal in which one (or more) parties is pregnant require a more or less expensive ring?

5. What are the 4 Cs? How do two of the Cs describe the composition of the diamond at different scales? How has the inflation-adjusted, wholesale price per carat changed over the past 50 years? What is the current wholesale price for a 1.00 carat, colorless (D), internally flawless, brilliant (round) cut diamond? What about the retail price for the same diamond?

6. What is the Kimberley Process Certification Scheme? What was the reason that Global Witness cited for leaving the Kimberly Process in late 2011?

7. What are conflict diamonds? Why are conflict diamonds an American problem? According to the WDC, what percent of blood diamonds currently come from conflict zones? According to the UN, what percent of blood diamonds currently come from conflict zones? Why is there such a wide gulf in between these two estimates? What were the respective roles of Sierra Leone and Liberia in the diamonds that helped to fund the WTC attacks on 9/11? Why are the DRC and Zimbabwe considered two potential sources for conflict/illegally traded diamonds? What are some of the things that you should look for when trying to source (or avoid sourcing) smuggled diamonds?

8. Is the statement by World Diamond Counsel chairman Eli Izhakoff that the industry knew nothing of the conflict-diamond trade until 1999-2000 indicative of willful deceit or stunning incompetence?

9. Can you use smuggleability in a sentence?

Slides are on Sakai. Please read Colin Tudge's review of The Plundered Planet, By Paul Collier in the Friday 09 July 2010 edition of the Independent for Wednesday's lecture presentation by the Plundered Planet Book Group.