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About that new South African diamond rush...

Well, they weren't diamonds after all, the stones turned out to be quartz.


Last week we reported on a potential new South African diamond rush with thousands of people flocking to the KwaZulu-Natal province to stake their claim. South Africa depends upon its natural resources including gold, platinum, and diamonds to anchor the economy.


During past economic crises South Africa was somewhat of a safe haven but in the new digital world, not anymore. Cryptocurrencies have replaced metals like platinum as a store of value and wreaked havoc on the future economic prospects of the Sub Saharan country.


As far as the "quartz" findings, more from DailyMail...


"The tests conducted conclusively revealed that the stones discovered in the area are not diamonds,' a local government statement said.

'In fact, what has been discovered are quartz crystals,' it said, noting that the potential value of the stones would be 'very low' compared to diamonds."


Very disappointing news to hear.


You can read the full article here

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