Diamond is an allotrope of carbon and it is the hardest natural substance in the world. The hardness is usually determined by ability to resist scratching with grade 1 being the softest and grade 10 being the hardest. On this scale, it is graded as having a hardness of 10 (Read 50). Diamonds are mined from deep earth crust and are formed by high pressure and manageable temperatures. They are formed from pure carbon (McGuigan). Its industrial use as major cutting and polishing tool is determined by its qualities of hardness and high thermal conductivity (USGS). Diamonds are the most popular gemstones due to their excellent mechanical and optical characteristics coupled with effective and efficient marketing. Currently, around 130 million carats worth approximately US $9 billion are mined annually (Yarnell 31).