With the exception of the Diamond Foundry (a Silicon Valley-based business that uses solar energy with a zero carbon footprint), the labs that grow diamonds do not disclose their procedures and "proprietary information". They don’t have to. While the mined diamond industry has come under appropriate scrutiny, the lab-grown diamond industry, still a baby, doesn’t have a current certification, not even one as vague as the Kimberley Process. So some, playing off the label of “lab-grown” are profiting without having to meet consumer expectations.
And the deceit doesn’t stop there. Since lab-grown diamonds are physically, chemically, and optically identical, they are being passed off as mined-diamonds and sold at those prices. These fake mined-diamonds are so believable that only trained gemologists, equipped with the most precise instruments, can tell the difference. In my opinion, it's shady when those that claim that lab-grown diamonds aren’t the real thing, bypass the experts in order to sell them as such. For those consumers interested in real lab-grown diamonds, responsible businesses will certify the quality-grade of their cultured diamonds.
With mined diamond production slowing down and becoming increasingly costly, I’m curious to see how giants like De Beers, who started manufacturing diamonds in the 1960s, will spin and sell lab-grown diamonds eventually. Right now, De Beers and friends are speaking out against cultured diamonds in defense of their workers. According to them, mining diamonds creates jobs for more than seven million of the poorest people in the world. But I think real concern for these communities might look like preparing them for the inevitable exhaustion of mined diamonds, using higher current wages and training in alternative work. Even Botswana, a country that has experienced relative stability with it’s own diamond trade, will likely exhaust their diamond mines by 2029.
Across the board, transparency and traceability for lab created diamonds haven’t become industry standards yet, but I’m super-optimistic that all of us conscientious consumers will demand it. I believe we’ve brought about the changes we’re seeing now and that lab-grown diamonds will continue to evolve to become a real solution for future shortage.
Next time, I’ll be talking about another option I endorse - traceable colored gemstones. Please tune in, join the discussion, and feel free to get in touch.