There is a need for less than Gem Quality diamonds!
A little diamond history demonstrates that the rapidly expanding economies that desire diamonds create a need for less than gem quality stones. Those $100.00 Valentine diamond jewelry specials must come from somewhere! Not all diamonds are gem quality, but that makes no difference. The demand exists for all qualities.
Prior to the 17th-century discovery of diamonds in Brazil, India was the world’s sole diamond producer. India claims to have produced its first diamond in the 8th century, and many of the world’s most famous diamonds, including the Kohinoor, Orloff and Hope, were of Indian origin. This legacy, together with India’s steeped tradition of jewelry manufacturing, had positioned it with the skills necessary for development as a cutting center. Just as important, however, was the vast availability of cheap labor. Putting two plus two together, producers realized that India could economically manufacture some formerly industrial diamonds for use in jewelry. A new term was added to the diamond lexicon: “near-gem.”
The birth of near-gem was pivotal in the structuring of the global diamond business. While some 20 percent of the world’s annual diamond production is of gem quality, more than twice that amount is near-gem. This new category of diamonds paved the way for an enormous expansion in fine jewelry production. “Promotional” diamond jewelry, comprising “Indian goods,” soon filled the cases of an emerging retail channel: mass merchants seeking to sell jewelry in high volumes.
Indian manufacturing capacity soared. Within three decades, India rose to the position of world leader in diamond manufacturing, far outstripping its predecessors, Israel and Belgium. Today, India cuts and polishes 55 percent of the world’s diamonds in terms of value, 80 percent in carats, and 90 percent of total pieces. The Indian industry employs upward of a million cutters.
In 2005, India’s exports of polished approached $12 billion, with the primary destinations being the United States and Hong Kong, where a growing jewelry manufacturing industry consumes an increasing percentage of these stones.
Analysts have questioned whether this huge supply of inexpensive diamonds will cheapen the stone’s carefully crafted image of value and exclusivity. Will consumers continue to covet diamonds as a premier gemstone when a 2-carat total weight tennis bracelet can be bought for $300?
And India itself has steadily positioned itself as a producer of larger and larger stones. For better or worse, India and near-gem diamonds have added a capacity to diamond production, enabling jewelry to become a true mass market industry.
No matter the quality of the stones there is a market!
Delta Mining and Exploration received a report on the samples processed from their Montana target. The micro-probe analysis to determine kimberlite provenance and/or specific mineral chemistry was positive. Link here for report.
Stay tuned: There is so much to tell about this exciting prospect that Stock Guru will be checking in several times a day on this company so you can learn about their advantages in their quest for a U.S. diamond mine!
Source: Delta Mining and Exploration and History of Diamonds
Contact: Alex Livak
Investor Relations
242 Kings Rd.
Lewisburg, Kentuc 42256
Tel: 347-813-4664
Em: info@deltamine.com
Delta Mining
242 Kings Rd.
Lewisburg, KY 42256
USA
Website: http://www.deltamine.com
Phone: 347-813-4664
About Delta Mining and Exploration, Corp: http://www.deltamine.com: Delta is a mineral exploration company with an extensive portfolio of diamond properties in Montana. Delta controls some 8000 acres throughout Montana located within the Wyoming Craton where much of North America’s diamonds have been found and has completed two phases of exploration work.
Safe Harbor for Forward-Looking Statements. This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “plan,” “confident that,” “believe,” “scheduled,” “expect,” or “intend to,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company’s products and technologies, competitive factors, timing, and other risks described in the Company’s SEC reports and filings.
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