The world was stunned by the earthquake in Japan that was so powerful it was immediately called the strongest earthquake to hit the region in at least a century.  It measured at 8.9 on the Richter scale and immediately triggered tsunami waves that flooded particular areas, and exposed radiation from damaged nuclear power plants. As tsunami warnings were issued in New Zealand, Hawaii, and the US West Coast, many Japanese citizens were left without homes, shelter, and food. 

Media reports are calling it the most expensive earthquake in history.  The aftermath of the quake, tsunami, fires, and damage will cost at least $100 billion, including $40 billion in damage to roads, railroads, and ports.
While it's certainly not the most important aspect of the ensuing damages, one might be curious as to know what happens to the diamonds, minerals, and other gemstones underneath the surface.

Diamonds are formed 75-120 miles below the earth's surface.  The carbon that makes diamonds comes from pre-existing rock in the Earth's mantle. Changes in temperature make carbon atoms go deeper into the mantle until they melt and become new rock.  The melting rocks come together to build diamond crystals. 
An earthquake, where two parts of the earth move past each other to create a fault and a subsequent resulting earthquake is what occurs where tectonic plates on that fault bump into each other and affect the earth, causing it to shake, temperatures to drastically change (as in a volcano) and shaking up the rocks underneath the surfaces so there is potential for less (or sometimes even more) diamonds to be created.

It looks like Japan won't have a problem worrying about their diamonds.  That's because they don't really have them.  The first natural diamond found in Japan was found only in September 2007.  It was so small it could not be seen by the average microscope.  It was found in volcanic rock. 

Still, what the Japanese, especially those in North Japan who were affected by the earthquake, may have to worry about is their diamond inventory.  Japanese citizens, after the United States, are the world's second largest market for the sale of diamonds and diamond engagement rings. The Japanese diamond market was the largest in the world in the 90s when it was valued at $12.6 billion.

According to Diamonds.net, Japan's polished diamond imports rose 44 percent year on year to $72.4 million in January 2011. The diamond jewelry company DeBeers has helped to create the need for diamonds in Japan.  They created that market for engagement rings in Japan when one had never existed elsewhere in the world.  By the 90s, 77 percent of all Japanese brides received an engagement ring, and three quarters of that were diamonds. 

So while it looks like the Japanese won't have to worry about their own diamonds underneath the surface, the world continues to wonder how the general retail diamond market will fare with the mess of the fifth-largest earthquake in history. There will likely be a large drop in sales for the luxury consumer diamond market.    


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