I heard once that even if DeBeers stopped all diamond mining activity, their existing stockpile would last for a 100 years or more.

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johnnyApplePRNG 4 hours ago | parent | next [-]

It would probably last 1,000 years, now.

Since nobody wants to buy them anymore.

	▲	cute_boi an hour ago \| parent [-]
		And, any person who has ethics should never purchase these diamond, they are literally tainted with blood.

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senorrib 4 hours ago | parent | prev [-]

That’s not even close to being true.

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loloquwowndueo 4 hours ago | parent [-]

You both need to provide citations my dudes.

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margalabargala 4 hours ago | parent | next [-]

The first person hedged their statement with "I heard once" so it's likely true regardless of whether the rest is accurate.

In a similar vein it has been said (by me, just now) that DeBeers is actually already out of diamonds and manufactures then de novo from the compressed ashes of orphans.

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bdangubic 3 hours ago | parent | next [-]

I heard that De Beers donated 99.6% of all of their profits so I am not sure what all the hoopla is about them

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lo_zamoyski an hour ago | parent | next [-]

Effective altruists concur.

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margalabargala 2 hours ago | parent | prev [-]

Right but I heard that the recipient of the donation was the Epstein-Trump Boarding School For Children.

	▲	mcphage 2 hours ago \| parent [-]
		Well, I heard it was the Epstein-Trump Boating School For Children, which taught vulnerable youngsters how to get away from Epstein’s child-rape island.

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loloquwowndueo 3 hours ago | parent | prev [-]

“I heard” = hearsay. Citation needed. (I mean, I heard the earth is flat - but it’s not)

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ninjalanternshk 2 hours ago | parent | prev | next [-]

AI coughed up a bunch of references that put their stockpile estimate at around a year. Might have been more at one time but nothing close to 100.

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lightedman an hour ago | parent | prev [-]

I'll provide a citation since I'm in this industry and watch it closely.

De Beers currently has about 2 billion worth of diamond stock in its holds. This equates to about... 5-6 months of sales volume. It used to be worth more but lab-grown and other re-valuing initiatives have dropped the worth of their hoard.