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I heard once that even if DeBeers stopped all diamond mining activity, their existing stockpile would last for a 100 years or more.
by mlmonkey 1mo ago
I heard once that even if DeBeers stopped all diamond mining activity, their existing stockpile would last for a 100 years or more.
- senorrib 1mo agoThat’s not even close to being true.
- loloquwowndueo 1mo agoYou both need to provide citations my dudes.
- margalabargala 1mo agoThe 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.
- loloquwowndueo 1mo ago“I heard” = hearsay. Citation needed. (I mean, I heard the earth is flat - but it’s not)
- bdangubic 1mo agoI heard that De Beers donated 99.6% of all of their profits so I am not sure what all the hoopla is about them
- margalabargala 1mo agoRight but I heard that the recipient of the donation was the Epstein-Trump Boarding School For Children.
- mcphage 1mo agoWell, 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.
- margalabargala 29d agoUnfortunately, you misheard. It was the Epstein-Trump Motorboating School For Children, and what was taught was...not what you said.
- mcphage 27d agoI actually lol’ed :-)
- lo_zamoyski 29d agoEffective altruists concur.
- ninjalanternshk 1mo agoAI 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.
- lightedman 29d agoI'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.
- johnnyApplePRNG 1mo agoIt would probably last 1,000 years, now. Since nobody wants to buy them anymore.
- cute_boi 29d agoAnd, any person who has ethics should never purchase these diamond, they are literally tainted with blood.