Quote from Natural Harmonia Gropius;1023240:
How does it work exactly? Nothing really helpful in the thread about it.
I would try BTW, but it conflicts with most mods I like to use. Appropriate since it is "The mod that conflicts with everything!"
Not sure about EE3 but for EE2, you have to do some initial work finding the diamonds, and iron but there's alchemy bags to store all your stuff in and there's items that help you find diamonds. Basically if when it's all said and done, you can slap iron in an item condenser surrounded by Solar Arrays and wake up to find a chest full of iron.
http://equivalentexchange.wikispaces.com/
There's a lot more to it than what I'm saying but it would take awhile to explain it. Another neat thing about Alchemy bags is that you can throw any tool in it and it will repair itself which means that your diamond tools/weapons/armour will never die and there's some other OP equipment you can make at the end tier like Red Matter/Gem Armour that negates all lava damage, prevents you from suffocating, no fall damage, etc. Also OP lightning and all sorts of other OP stuff.