A 62 mile wide crater in Siberia, Russia, is the site of a large diamond cache, according to a recent disclosure, according to a report from The Telegraph.

The crater was the result of an impact 35 million years ago. This impact created diamonds in the graphite deposits under the ground instantaneously.

The crater, which had been known to contain a large supply of diamonds by the Soviet regime, was fully examined for its complete yield. The results claim there are trillions of carats of diamonds waiting to be dug up from the ground.

Before the ladies get too excited, these diamonds are twice as hard as traditional diamonds, making them useless for jewelry. Instead, this cache of diamonds will be used for industrial machines and purposes.

Since the diamond cache is not of jewelry quality, market analysts do not anticipate a dramatic swing in global diamond prices. The Russian government owned Alrosa will excavate the cache.