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FTC Declares Lab Grown Diamonds are Diamonds

FTC Declares Lab Grown Diamonds are Diamonds

As part of its renewed jewelry guidelines, the United States Federal Trade Commission (FTC) has implemented a few changes regarding man-made, lab grown diamonds. The FTC's new definition of a diamond is: A diamond is a mineral consisting essentially of pure carbon crystallized in the isometric system, eliminates the word ‘natural’ as opposed to its previous definition that suggests that a diamond is a natural mineral. The old definition is outdated, considering it was made in the year 1956, a time when mined diamonds were the only kind of diamonds. The FTC said:  Since then, technological advances have made it possible to...

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Game of Stones: Disrupting the Diamond Trade Excerpts from Morgan Stanley Report

Game of Stones: Disrupting the Diamond Trade Excerpts from Morgan Stanley Report

Here are some excerpts for a recent Morgan Stanley Research Report on lab grown diamonds... Diamonds grown in the lab have matured enough in size and quality to compete against traditionally mined gems. Indeed, commercially viable lab-grown diamonds that are less expensive and conflict-free may well appeal to younger, socially conscious consumers, with disruptive consequences for the $14 billion global rough diamond market. Many of today's younger consumers aren’t only open to alternatives, they are willing to pay a premium for products that have a low environmental impact or are socially responsible.  Morgan Stanley estimates that the capital costs for...

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Global Lab Grown Diamond Market Expected to Grow Rapidly

Global Lab Grown Diamond Market Expected to Grow Rapidly

Man-made diamonds are lab grown or laboratory produced diamonds. The physical and chemical properties of lab grown diamonds are identifcal to those of mined diamonds. Lab grown diamonds are also known as cultivated or cultured diamonds. Lab grown diamonds are manufactured in the laboratory by using CVD (chemical vapor deposition) or HPHT (high pressure high temperature) processes. Increasing demand for lab grown diamonds in industrial applications will boost the lab grown diamond market dramatically in the next few years. Lab grown diamonds are widely utilized in computer chip production, construction, machinery production, mining services (such as drilling for minerals), gem exploration, stone cutting...

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Marine Diamond Mining in Southern Africa: 
The Change Needed Now

Marine Diamond Mining in Southern Africa: 
The Change Needed Now

  The diamond industry is traditionally known for mining the precious gems from underneath the Earth’s soil surface, reaching levels at almost 1000 kilometers deep. In addition to this very invasive process, the industry has created a marine diamond mining sector in search of diamonds located below the ocean floor. This category of mining can be traced back to South Africa and Namibia, and the jewels within their waters are considered to be among the most sought-after diamonds in the world. Their rarity and worth come from their existence, with most diamonds being destroyed while on their journey to the...

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Human Rights Watch Leads NGOs Calling for Greater Transparency in Diamond Supply Chain

Human Rights Watch Leads NGOs Calling for Greater Transparency in Diamond Supply Chain

The diamond industry continues to be tainted by links between diamonds and human rights abuses, conflict finance, and corruption. Although the diamond industry is not the only sector facing these threats, it is unique in its particular unwillingness and inability to take genuine steps towards responsible business conduct. We the undersigned, who represent a diverse range of civil society organizations, stand united in our efforts to break the links between diamonds and abuse, conflict, and corruption and to ensure that governments and industry engaged in the sector play their appropriate and necessary roles. Advancing responsible sourcing, sustainable development, and transparency...

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