A blasting method which comprises delivering electrical energy at a rate of at least 100 megawatts per microsecond until a peak power of at least 3 gigawatts is reached across the gap of two poles of a coaxial electrode assembly immersed in an electrolyte within a confined area of a substance to be blasted. A dielectric break-down of the electrolyte in the confined area is produced resulting in the formation of plasma within the confined area which creates a pressure sufficient to blast the substance in the manner of a high explosive charge.