section_path: Applications/Diamonds
section_name: Diamonds
paragraph_text: Diamonds
  
  The diamond industry falls into two categories: one dealing with gem-grade diamonds and the other, with industrial-grade diamonds. While a large trade in both types of diamonds exists, the two markets function dramatically differently.
  
  Unlike precious metals such as gold or platinum, gem diamonds do not trade as a commodity. There is a substantial mark-up in the sale of diamonds, and there is not a very active market for resale of diamonds.
  
  Industrial diamonds are valued mostly for their hardness and heat conductivity, with the gemological qualities of clarity and color being mostly irrelevant. About 80% of mined diamonds (equal to about 100 million carats or 20 tonnes annually) are unsuitable for use as gemstones and relegated for industrial use (known as bort). Synthetic diamonds, invented in the 1950s, found almost immediate industrial applications; 3 billion carats (600 tonnes) of synthetic diamond is produced annually.
  
  The dominant industrial use of diamond is in cutting, drilling, grinding, and polishing. Most of these applications do not require large diamonds; in fact, most diamonds of gem-quality except for their small size can be used industrially. Diamonds are embedded in drill tips or saw blades, or ground into a powder for use in grinding and polishing applications. Specialized applications include use in laboratories as containment for high-pressure experiments (see diamond anvil cell), high-performance bearings, and limited use in specialized windows. With the continuing advances in the production of synthetic diamonds, new applications are becoming feasible. Garnering much excitement is the possible use of diamond as a semiconductor suitable for microchips, and because of its exceptional heat conductance property, as a heat sink in electronics.