High Quality Content by WIKIPEDIA articles! A blood diamond (also called a conflict diamond, converted diamond, hot diamond, or war diamond) is a diamond mined in a war zone and sold to finance an insurgency, invading army`s war efforts, or a warlord`s activity. These terms are particularly used in the context of diamond trading to indicate the negative effects of their sale. These diamonds are mined particularly in Africa where around two-thirds of the world`s diamonds are extracted. The phenomenon of conflict minerals has the same nature.