Nanotechnology is a new technology developed in recent years. At present many countries are researching on the new technology and its applications. Equipment for manufacturing nanodiamond with detonation method has been developed in Russia. The nanodiamond has been produced in Ukraine. The Institute of Superhard Materials in Ukraine has worked out nanodiamond bit and done experimental work in laboratory .The results of the experimental work show, that nanodiamond bit is a good tool for drilling engineering , can obtain excellent social and economic results and have good future in geological exploration and mining industry. It is suggested, that nanodiamond bit studying and using are strengthened in China.