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Diamond Hunters Give Up Search for Gems Too Hard to Find

Diamonds are so hard to find that explorers have pretty much given up trying.

More than $7 billion has been plowed into the hunt for the gem since 2000, according to top supplier De Beers, and the results have been meager, with no major finds. That’s led producers including BHP Billiton Ltd. to pack up their maps and drills and head for home. The amount spent looking for diamond-rich kimberlite formations underground has dropped by half since 2007, when exploration investment topped $1 billion.