Diamonds are the second rarest material in Minecraft. You can mold them into the most durable tools and weapons, or just make a copy of the Statue of Liberty. If you've tried looking for them for any length of time, though, you know the material can be frustratingly rare. In fact, it's even scarcer in Minecraft than diamonds are in the real world.
According to this infographic from a metallurgy consulting firm, real diamonds make up 0.02%-0.18% of the Earth's crust. Minecraft's gems on the other hand make up only 0.016% of the world.
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