(Oil Price) Russia has been the world's largest diamond producer for the past 3 years. Its diamond mines in Yakutia produce massive profits in a tightly controlled market. However it has just been released that the Russians have been sitting on a monolithic mine for 40 years. In the 1970s they discovered a diamond field beneath a meteorite crater which contains trillions of carats, and could supply the world with diamonds for 3,000 years.
They didn't release this information earlier in order to keep the diamond market under control, and the prices high.