Latest news with #NaturalDiamondCouncil
Yahoo
5 days ago
- Business
- Yahoo
Natural Diamond Council's New Report Reveals the Current Realities of Laboratory-Grown Diamonds
Laboratory-Grown Diamond Prices Drop over 90%, Unprecedented High Retailer Margins, and Sustainability Claims can be Misleading LONDON, June 5, 2025 /PRNewswire/ -- The Natural Diamond Council (NDC) today launches a new report to address some of the common misconceptions surrounding laboratory-grown diamonds and shares latest data from globally respected analysts and researchers. By examining laboratory-grown diamonds from all angles, the NDC aims to give consumers, press and other stakeholders a complete and accurate picture about the two different product categories that will inform more nuanced conversations in the public domain and help consumers make confident choices. From the Natural Diamond Council: where are laboratory-grown diamonds now The NDC's latest report offers a data-driven look at the laboratory-grown diamond sector, addressing terminology, disclosure, sustainability claims and pricing. The Council's goal is not to disparage or promote, but to serve as a trusted resource for retailers, journalists and consumers alike. Key facts from the report include: More than 70% of laboratory-grown diamonds are mass-produced in factories in China and India. The manufacturing process is energy-intensive requiring sustained temperatures upwards of around 2000°F (1,093°C) and large amounts of water to cool reactors The price of a 1.5-carat laboratory-grown diamond has fallen 86% from $10,750 in mid-2015 to $1,455 in 2025. Data supplied by analysts Edahn Golan on wholesale prices and Paul Zimnisky on retail prices shows that the wholesale price for a 1ct round near colourless (FGH) high-clarity (VS1) laboratory-grown diamond is now just 5% of what it was seven years ago in 2018 (i.e. it has fallen by 95%), while the retail price is 24% of what it was in 2018 (a fall of 76%). Analysis by Paul Zimnisky for the last 5 years shows that the average retail margin on laboratory-grown diamonds has increased over the period from 46% to 84%. Put another way this means the average mark-up on synthetic diamonds has increased from 85% to over 500%. "Laboratory-grown diamonds are mass-produced in limitless quantities, but their sustainability claims often lack scrutiny," said Natural Diamond Council's CEO, David Kellie. "Our goal is to give consumers and other stakeholders a balanced picture that will inform more nuanced conversations and help consumers confidently make informed decisions." A curated selection of high-resolution visuals, infographics and pricing trend charts is available to support media coverage. The full report: Laboratory-Grown Diamond Facts can be accessed here. Why this matters now The fast proliferation of laboratory-grown diamonds has brought a tidal wave of inaccurate and misleading claims, often confusing or misinforming consumers about what they are buying. The market has also experienced dramatically falling prices due to mass production and technological efficiencies. For example, a 1-carat, VS1, F-G-H colour LGD today sells for just 5% of its 2018 wholesale price. Retail prices, while slower to fall, are now only 24% of their 2018 levels, largely due to increasing retail margins. This price erosion, combined with increasingly ambiguous marketing, makes transparent, fact-based education more critical than ever. "All too often, laboratory-grown diamonds are unfairly pitted against natural diamonds in comparisons that only leave consumers in the dark. Consumers deserve more. They need clear, honest information that will help them understand their choices. Without this clarity, the two different product categories natural and laboratory-grown diamonds will become obscured," David Kellie added. "This isn't simply about pricing – it's a wake-up call for greater clarity and integrity across all facets of the market." As recently announced, GIA will no longer use its internationally recognized 4Cs grading system created to evaluate the quality and characteristics of natural diamonds when describing the colour and clarity of laboratory-grown diamonds. Instead, beginning later this year, the GIA will use simplified descriptors categorised broadly as either "premium" or "standard"—or no grade at all if the quality is subpar. By replacing detailed grading reports with broader descriptors, such as "premium" and "standard," GIA is making a clear distinction between two product categories and ensuring the consumer is properly informed. About laboratory-grown diamonds Synthetic diamonds were first developed in the 1950s for industrial purposes, but it has only been in the last decade that they have become widely available for jewellery. The manufactured stones are created using energy-intensive High-Pressure, High-Temperature (HPHT), and Chemical Vapour Deposition (CVD) processes, mainly in large-scale factories in China and India, where coal is largely used for power. Despite having the same crystal structure, laboratory-grown diamonds are not identical to natural diamonds and are identifiable with specialist equipment. By law, full disclosure is mandatory and the following terms can be used to describe them: "laboratory-grown diamonds", "laboratory-created diamonds", "synthetic diamonds". In the US, "[manufacturer's name]-created diamonds" is also allowed. While some grading laboratories will not certify laboratory-grown diamonds, others, such as the Gemological Institute of America (GIA), IGI and GSI, provide specifications and reports for laboratory-grown diamonds. These reports must clearly state the type of stone being graded. Notes to editors About the Natural Diamond Council The Natural Diamond Council is a not-for-profit organisation committed to inspiring and educating consumers on the real, rare and responsible values of natural diamonds and the positive global impact of the industry. Our Only Natural Diamonds platform is the authoritative publisher on all things natural diamonds including myth-busting facts, celebrities and pop culture, epic diamonds and jewellery trends, engagements and weddings, and diamond buying guides. In addition, we provide marketing, promotional, and educational services to brands, designers and retailers, encouraging them to amplify the values and integrity of natural diamonds. NDC is a global organisation whose members' operations span four continents and 10 countries including Canada, South Africa and Botswana. Their operations support the livelihood of 10 million people worldwide. NDC operates out of offices in New York, Shanghai, Mumbai and Antwerp, with satellite teams in the UK and France. Photo - - For interviews, commentary or to request further information, please contact: Raluca Anghel Head of External Affairs and Industry Relations, Natural Diamond Councilraluca@ View original content to download multimedia: SOURCE Natural Diamond Council Ltd
Time of India
23-05-2025
- Business
- Time of India
Earth made, ethically mined: The untold sustainability story of natural diamonds
There is something eternally poetic about a natural diamond. Born deep within the earth over billions of years, shaped by immense pressure and time, each gem is a crystallised testament to nature's artistry. With their incomparable brilliance and timeless allure, natural diamonds have long been the chosen emblems of love, legacy, and triumph, adorned by queens, passed down through generations, and treasured in cultures across the world. They are not merely ornaments, but heirlooms of history. In recent years, however, the diamond narrative has shifted. Many consumers have been led to believe that artificial alternatives are a cleaner, more responsible choice. While technological or lab-grown diamonds may offer affordability, the assumption that all natural diamonds come at a social or ecological cost is increasingly being challenged by responsible industry leaders. According to a 2023 analytical report by the Natural Diamond Council (NDC), titled Diamond Facts: Addressing Myths and Misconceptions About the Diamond Industry 1 , 'Laboratory-grown diamonds may not always be as sustainable as some claim. The manufacturing process, which lasts a few weeks, is energy-intensive, requiring temperatures similar to 20% of that of the Sun's surface. Over 70% of laboratory-grown diamonds are mass-produced in China and India, where 62% and 74% of grid electricity is generated from coal.' Leaders of change: Mines and markets Innovative companies around the world are integrating blockchain technology to ensure full traceability of diamonds—from mine to market. Countries such as Canada, Botswana, and Namibia are widely regarded as pioneers in ethical diamond production. Botswana, in particular, stands out for its model of diamond-led development, reinvesting a substantial portion of its diamond revenues into public infrastructure, healthcare, and education, demonstrating how resource wealth can empower rather than exploit. What Is the Kimberley Process Certification Scheme (KPCS)? The Kimberley Process Certification Scheme (KPCS) is an international initiative launched in 2003 to prevent the trade in conflict diamonds—rough diamonds used to finance armed conflict against legitimate governments, particularly in parts of Africa. Certification System: Every shipment of rough diamonds exported from a participating country must be accompanied by a Kimberley Process certificate, confirming the diamonds are conflict-free. Membership: The KPCS includes over 80 countries, representing the vast majority of the global diamond trade. It involves governments, industry stakeholders, and civil society organisations. Reform and new beginnings Leading market players are at the forefront of this movement, procuring and offering only ethically sourced and sustainably mined natural diamonds. These are stones that carry not only natural brilliance but a provenance rooted in fair labour, ecological care, and community upliftment. In response to international outcry, the Kimberley Process Certification Scheme (KPCS) was established in 2003 to stem the flow of conflict diamonds, marking a significant milestone in the journey towards ethical sourcing. What makes a diamond ethical? An ethically sourced natural diamond typically meets several key criteria: Conflict-free certification Responsible mining practices that minimise environmental damage Fair labour conditions, including safe working environments and living wages Community reinvestment, ensuring mining revenues benefit local populations Sustainably mined diamonds also prioritise land reclamation, carbon neutrality, and low-impact water usage, signalling a departure from exploitative, traditional extraction methods. References:
Yahoo
13-02-2025
- Entertainment
- Yahoo
Meghan Markle has been voted as having the best celebrity engagement ring in the world, according to a poll commissioned by the Natural Diamond Council
LONDON, Feb. 11, 2025 /PRNewswire/ -- Ahead of Valentine's Day, the Natural Diamond Council commissioned a study of 2,000 British adults to disclose the recent trends in diamond engagement rings. The study, carried out by OnePoll, revealed that Meghan, the Duchess of Sussex's diamond engagement ring is the most popular in the world. The trilogy ring with a cushion cut centre diamond, flanked by two smaller diamonds, was voted more popular than Mila Kunis and Adele's rings. It was designed by Prince Harry using a diamond from Botswana, along with two others from Princess Diana's personal jewellery collection. The study also found nearly half of respondents (46 percent) would prefer a colourless or white diamond if money were no object. Although in a modern twist 18-24s were more likely to want a different coloured diamond. The results reveal that the preferred diamond cut is tied between 'round brilliant' and 'emerald cut', both making up 12 percent of the vote, demonstrating that classic cuts remain the favourite amongst consumers. Those aged 65+ were fonder of a round brilliant cut (19%) than 18-24s who prefer an oval cut (17%). Lisa Levinson, Head of UK for the Natural Diamond Council, said: "We are seeing a noticeable shift toward 'ovals' being the new 'rounds' for the younger generation". There is a strong appetite for individuality, with results showing a desire for an engagement ring to be from private jewellers (30 percent), rather than high street jewellery stores (9 percent). This is further reflected in the poll as uniqueness is the most important factor when it comes to your diamond engagement ring (27 percent), with clarity of the diamond coming in second. Despite the recent emergence of laboratory-grown/synthetic diamonds, natural diamonds remain the firm favourite when choosing between natural and lab-grown/synthetic. Interestingly this preference was even more significant in men (72%). Lisa Levinson of the Natural Diamond Council continued: "These findings highlight that natural diamonds are the preferred choice when choosing an engagement ring. This reflects the customers' desire for individuality, as each natural diamond is inimitably unique. When you own a natural diamond, you possess something truly rare that reflects just how exceptional you are, whilst also supporting local communities across the world and allowing them to flourish on the back of diamond revenue." Of the few participants that said they were disappointed with their engagement ring, 57 percent admitted it was because it wasn't big enough, whilst 29 percent revealed it was because it wasn't a natural diamond. A sizeable 20 percent of people have lied to a family member/friend about liking their ring when they didn't. 34 percent of British adults would like their engagement ring to be a complete surprise, whilst the majority (48 percent) want to choose the ring with their partner. For the upcoming 2025 Valentine's Day, only 6% of British adults would like to get engaged on Valentine's Day, whilst the largest share (29%) has no preference of a specific date. Top 5 most popular celebrity engagement rings: Meghan, the Duchess of Sussex's trilogy ring with a cushion cut centre diamond flanked by two smaller diamonds Mila Kunis' round brilliant diamond engagement ring Adele's pear-shaped diamond engagement ring Catherine, the Princess of Wales's oval blue sapphire surrounded by a diamond halo engagement ring Zendaya's east-west emerald cut diamond ring About Natural Diamond Council Natural Diamond Council is a not-for-profit organisation committed to inspiring and educating consumers on the real, rare, and responsible values of natural diamonds and the positive global impact of the industry. Our Only Natural Diamonds platform is the authoritative publisher on all things natural diamonds including myth busting facts, celebrities and pop culture, epic diamonds and jewellery trends, engagements and weddings, and diamond buying guides. In addition, we provide marketing, promotional, and educational services to brands, designers, and retailers, encouraging them to amplify the values and integrity of natural diamonds. NDC is a global organisation whose members' operations span four continents and ten countries including Canada, South Africa, and Botswana. Their operations support the livelihood of 10 million people worldwide. NDC operates out of offices in New York, Shanghai, Mumbai, and Antwerp, with satellite teams in the UK and France. For more diamond reports, visit Logo - View original content to download multimedia: Sign in to access your portfolio
