2,492 Carat Diamond Discovery

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Questions and Answers

How does the recent diamond discovery in Botswana impact the historical context of diamond mining, considering the 3,106-carat Cullinan diamond's discovery in 1905?

It diminishes the Cullinan diamond's significance as a unique historical artifact.
It reinforces the importance of technological advancements in diamond exploration, highlighting their role in uncovering significant finds. (correct)
It challenges the established geological understanding of diamond formation in Southern Africa.
It reinvents the perception of Botswana as a primary source of large, valuable diamonds, comparable to South Africa.

Considering that the 1,758-carat Sewelô diamond was sold for an undisclosed sum, what are the potential implications of keeping the sales price confidential for rare and exceptionally large diamonds on the overall diamond market?

It increases market stability by preventing price fluctuations based on individual, non-representative sales.
It distorts market perceptions of diamond value, leading to speculative trading and pricing bubbles.
It allows for tailored marketing strategies that emphasize the stone's uniqueness and potential future value. (correct)
It promotes transparency in the valuation and pricing of unique diamonds, ensuring fair market practices.

Based on the information provided, what strategic advantage does the Karowe mine's geological profile offer to Lucara Diamond Corporation compared to other diamond mines globally?

Its location in Botswana provides preferential access to government subsidies and support.
Its geological composition guarantees a higher clarity and color grade in the diamonds found.
Its unique geology allows for more efficient extraction methods, reducing operational costs.
Its geological attributes are conducive to the formation of exceptionally large diamonds. (correct)

If Lucara Diamond continues to find exceptionally large diamonds, how might this affect their long-term corporate strategy, considering the limited number of potential buyers for such unique stones?

Focusing on marketing efforts and directly engaging with high-net-worth individuals. (D) Signup and view all the answers

Considering the Sewelô diamond's sale to Louis Vuitton, how could partnerships between mining companies and luxury brands influence the diamond market's perception of value and exclusivity?

It restricts the availability of unique diamonds to the general market, reinforcing their status as rare and collectible items. (D) Signup and view all the answers

Considering the geological processes involved in diamond formation and transportation, what factors primarily dictate the rarity and high value of diamonds like the Cullinan?

The combination of extreme pressure, high temperature, and specific depth conditions required for carbon atom compression, followed by volcanic activity to bring them to the surface. (A) Signup and view all the answers

If a newly discovered diamond is estimated to be 2 billion years old, according to the information, what geological event would provide the most conclusive evidence regarding its journey from the Earth's mantle to its surface?

The presence of kimberlite pipes or lamproite pipes in the vicinity of the discovery. (A) Signup and view all the answers

Given that the Cullinan diamond was divided into several smaller stones, including the Cullinan I and Cullinan II, which are part of the British Crown Jewels, what impact did this division likely have on the overall monetary value of the original Cullinan diamond?

The division increased the overall value due to the historical and cultural significance added to the individual stones that became part of the Crown Jewels. (D) Signup and view all the answers

Considering the use of Cullinan I in the Sovereign's Sceptre and Cullinan II in the Imperial State Crown, how does the integration of these diamonds into such symbolic objects affect their perceived value beyond their physical properties?

It exponentially increases their value by imbuing them with historical, cultural, and political significance, transforming them into priceless artifacts. (B) Signup and view all the answers

Diamonds are formed at depths exceeding 93 miles (150 km) where temperatures exceed 2,000°F (1,093°C). Considering the implications of these extreme conditions, what is the most significant challenge in replicating the natural diamond formation process to create synthetic diamonds of comparable size and quality to the Cullinan?

Achieving the precise combination of pressure, temperature, and carbon purity necessary for large crystal growth while maintaining consistent control over the process. (B) Signup and view all the answers

Flashcards

2,492-carat Diamond

The world's second-largest diamond, weighing 2,492 carats.

Botswana

Country in Southern Africa where the 2,492-carat diamond was discovered.