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Globes: Top geologist: Israel has major deposits of precious stones

Published on Aug 01 2016 // Business and Financial News, Economy

01/08/2016, 15:39 – Prof. William Griffin, a renowned expert on the earth’s crust, says Israel has enough precious stones and diamonds to warrant commercial mining.

Israel is already known to have an extensive diamond trading market, but could diamonds and precious stones also be extracted here?

If you ask Australian Prof. William (Bill) Griffin, a world-renowned geologist and expert on the earth’s crust, the answer is a resounding yes. “Israel has large deposits containing different types of precious stones, including diamonds. This is really a bonanza,” he told “Globes.”

Griffin came to Israel in January 2016 for the first time to examine the activities of Shefa Yamim (TASE:SEFA), the only company in Israel dealing with the exploration of diamonds and precious stones. “I, and the institute I work at, had visited Tibet in order to inspect various formations of a mineral called moissanite – minerals which are not supposed to exist on earth, because they are generated only in the absence of oxygen,” he says, describing how he reached his conclusion. “Russian scientists that were with me said that the same minerals have been found in Israel, in much greater deposits than the ones found before. We were very excited and contacted Shefa Yamim at the very same moment.”……….Read More >>

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