diamond: hard facts versus misconceptions

The Natural Diamond Council (NDC) has just released its 2023 analytical report titled “Diamond Facts” in an effort to combat misinformation regarding both natural and lab-grown diamonds. The report tackles misconceptions circulating about the diamond industry. "At the Natural Diamond Council, we want to help consumers make informed decisions by providing information transparently." says NDC CEO David Kellie.

 

The Natural Diamond Council (NDC) inspires and educates consumers about the world of natural diamonds. The NDC supports the integrity of the natural diamond industry by providing transparency and insight into the industry's progress and commitments to further improvement. NDC is a global organization with member activities spanning four continents and ten countries, including Canada, South Africa and Botswana. Their operations support the livelihoods of 10 million industry employees and their families around the world. The NDC operates in the United States, Europe, China, India and the United Arab Emirates and Europe.

 

Here are 5 examples of facts from the report:

 

FACT #1: Can you spot a lab-grown diamond and tell it apart from a natural diamond?

Yes. Being mass-produced within weeks, lab-grown diamonds have specific stone growth patterns that can be detected using professional verification instruments.

 

FACT #2: Are lab-grown diamonds good for the environment?

The energy-intensive process of making lab-grown diamonds requires the generation of temperatures close to 20% of the temperature of the Sun's surface. With most manufacturing in China and India, where the majority of grid electricity is generated from coal, it is clearly not possible to claim that lab-grown diamonds are 'eco-friendly'.

 

FACT #3: What have been the price trends for lab-grown diamonds?

In 2016, a 1.5 carat lab-grown diamond cost $10,600, and by early 2023 it's down to $2,445. While they have also fluctuated, over the past 25 years the prices of natural diamonds have appreciated by around 3% on average each year.

FACT #4: Do natural diamonds benefit their countries of origin?

The natural diamond industry supports 10 million people worldwide. Up to 80% of the value of the rough diamond can stay in the hands of local communities through local purchases, social benefits, social programs, infrastructure investments as well as taxes, royalties and dividends paid by the industry to the respective governments. Additionally, the diamond industry actively protects biodiversity, investing in the protection of an area 4 times larger than the land it uses.

 

FACT #5: How do I know if I'm buying a natural diamond or a lab-grown diamond?

Any organization selling lab-grown diamonds, such as retailers or jewelers, is legally required to disclose that it is a synthetic diamond and must use approved terminology when communicating with its customers. If you buy a diamond with GIA, HRD or IGI certificate, it is specified on the certificate if it is a natural diamond (natural diamond) or a laboratory diamond (lab grown diamond). See our catalog of certified diamonds.

 

Source of this article: https://www.naturaldiamonds.com/diamond-guide/diamond-facts/