Speaker for September 29 - Bob Lynn

Our very own Bob Lynn gave a very informative presentation about diamond mining.  Most people think of De Beers when discussing diamonds.  Although that company is embedded in the public mind, it actually has not had a majority of control of the world’s diamond mines for over fourteen years.  ALROSA, Russia’s largest diamond company, and Rio Tinto are the two companies currently dominating the field of diamond mining.

Approximately 20% of the world supply of diamonds comes from Canada, specifically North of the Arctic Circle.  Canada’s production of diamonds is second only to Russia.  Supplies are transported to the Canadian mines via trucks driving over ice roads.  Since there is only a limited time throughout the year when the lakes freeze over allowing the trucks to pass, the trucks literally operate 24 hours a day.    

When diamonds were first discovered in the area that would later become the Ekati Mine in Canada, a company put approximately $4-5 billion into it just to get it ready to be mined.  When the mining is completed, the company will have to return the land to as close to its original state as possible.  The climate in this area is so cold that the mine must operate 24 hours a day because if the equipment is turned off, it will not start again.

Diamond mining creates a large crater in the land.  The Mir Mine diamond mine in Siberia is the world’s second largest open-pit mine and can actually be seen from space.

Speaking of large things, Bob showed us a few pictures of the equipment used at the mines.  When looking at a mining truck that is next to a sport utility vehicle, it makes the sport utility vehicle look like a matchbox car.

Bob described that diamonds are cut by grinding them using diamond dust.  The grinding generates such intense heat that cold blasts of air are continually used in the grinding process.  Bob stated that although diamond grinding requires great skill, it is also very boring. 

We learned that diamonds actually come in a variety of colors.  The cost of these diamonds varies depending on the level of public interest in a particular color.  For example, brown diamonds are extremely rare, but because the public is not very interested in brown diamonds, they do not have as high of a market value as some of the other colored diamonds.

Bob is one of the few jewelers that sells Ultra Fire Diamonds.  This means that lines are precisely cut into the diamonds using nanotechnology which increases their brilliance substantially. 

Thanks Bob for a great presentation.

Deborah A. Perkins