Blood Diamonds: Why Are They So Valuable?
Blood diamonds are gemstones found in locations where armed groups have been cutting into the ground to extract them illegally. Many of these diamonds get sold on the black market, where their value skyrockets. So why are blood diamonds so valuable?
There are a few factors that contribute to the high value of blood diamonds. First and foremost, blood diamonds have a long history of being used as jewelry and superstitious objects. Because of this, many people still believe that they possess magical powers. As a result, blood diamonds are often stolen or extorted from their rightful owners by criminals looking for valuable assets.
Another contributing factor is the fact that rare earth minerals are required to produce modern electronics. And while these minerals can be found in other locations, they are especially abundant in Africa, where human rights abuses also occur making it easier for unscrupulous businessmen to get their hands on them.
All in all, there is no one definitive explanation as to why blood diamonds are so valuable than Lab grown diamonds. However, taken together, these factors lead to a high asking price for these jewels on the black market.
Where do blood diamonds come from?
Blood diamonds are precious gems found in Africa. They are made from the stones of rough diamonds that have been mined in violation of international law. The use of blood diamonds has fueled conflict and violence in some parts of the world for centuries.
The first recorded mention of blood diamonds came in 1493, when a Spanish soldier named Fernando de Alarcon captured a cache of them from the Portuguese. At that time, it was thought that their pure yellow color made them different and more valuable than other gemstones.
Blood diamonds have been used as weapons of war and continue to be traded as part of organized crime networks. In 1996, the UN Securite Convention forbade all trade in blood diamonds and began bringing Cases against those responsible. To date, more than 50 people have been convicted of crimes related to blood diamonds
History of Blood Diamonds
The history of blood diamonds dates back to the 18th century when European traders first discovered the diamond fields in Africa. At that time, diamonds were not very valuable, but over time they became increasingly valuable as wealth grew in Europe.
During the 1800s, there was a large amount of violence and warfare in Africa, and this led to the trafficking of diamonds into Europe. Diamonds were seen as a way to bribe warlords and gain control over their territory. This led to the development of blood diamond trade, where rebel groups would mine for diamonds and sell them to organized crime networks or government officials. This practice continued until around 2000 when it became illegal to trade in blood diamonds.
Today, blood diamonds are still considered valuable assets because they are rare and have tones of other precious stones. Blood diamonds can be used to buy weapons or minerals that can be sold on the black market, which makes them an great source of income for criminals. Blood Diamonds are also often used as part payment for human smuggling across international borders.
Why are they so valuable?
Blood diamonds are the rarest and most valuable form of diamond. They are mined in areas where conflict or human rights abuses take place, and the diamond mines are often operated by violent militias. These mines can be dangerous, and workers often suffer from extreme labor conditions and pay low wages. The gems can fetch very high prices, which is why they are so valuable to criminals and warlords.