The word diamond derives from the Greek word “adamas,” which means invincible or indestructible. It is modified form of carbon. Under the immense heat and pressure far below the earth’s surface, the carbon atoms bond in a unique way that results in diamonds’ beautiful and rare crystalline structure. Diamonds have been valued and coveted for thousands of years. On an average a diamond will lose about 50% of its original weight when it is cut and polished. Less than 20% of diamonds mined are considered gem-quality and can be used in jewellery. Major Diamond mines are in Botswana, Zimbabwe, Namibia, South Africa, Angola, Russia, Canada and Australia. Top six diamond mining companies are De Beers, ALROSA, Rio Tinto, SODIAM, Petra Diamond and Domion Diamond. They account for more than 70 % of global production by volume. Major cutting and Polishing countries of Diamonds are Belgium, Israel, USA, India and China. First three are considered high cost centres with focus on high end of stones while India and China is considered as the cost efficient centres.