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TW stands for the total weight of all the diamonds, expressed in carats.
CG is a term apparently associated with industrial diamonds, purposes for which about 75% of all mined diamonds are used.
About 20% of all diamonds mined are gem-quality diamonds.
You may be thinking of gemstones and industrial diamonds. Gemstones represent about 20% of all diamonds mined, and the remainder is industrial diamonds.
Yes, diamonds can cut glass, because diamonds are harder than glass.