Russia reveals shiny state secret: It’s awash in diamonds

‘Trillions of carats’ lie below a 35-million-year-old, 62-mile diameter asteroid crater in eastern Siberia known as Popigai Astroblem. The Russians have known about the site since the 1970s.

A worker at the Botswana Diamond Valuing Company displays rough diamonds during the sorting process, in a file photo.

Russia has just declassified news that will shake world gem markets to their core: the discovery of a vast new diamond field containing “trillions of carats,” enough to supply global markets for another 3,000 years.

The Soviets discovered the bonanza back in the 1970s beneath a 35-million-year-old, 62-mile diameter asteroid crater in eastern Siberia known as Popigai Astroblem.

They decided to keep it secret, and not to exploit it, apparently because the USSR’s huge diamond operations at Mirny, in Yakutia, were already producing immense profits in what was then a tightly controlled world market.

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