“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

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De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

The perfect couple - platinum and diamonds

The Jewelry House of Leon Megé located in New York has long been firmly established in the jewelry market as a source of magnificent jewelry, in which platinum and diamonds often sparkle being married together and attracting everyone’s eyes, but are...

06 may 2019

The technology of growing single-crystal diamonds has now become industrial in nature

It is believed that the reserves of natural diamonds will be exhausted by the middle of the century, and therefore production of synthetic diamonds is rapidly gaining relevance. According to Business Insider India’s estimates, the global synthetic diamond...

29 april 2019

De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

22 april 2019

Lab-grown stones are also diamonds - FTC

27 july 2018
According to RAPAPORT, the Federal Trade Commission (FTC) broadened its definition of “diamond” as it had amended its jewelry guidelines. Now the notion of “lab-grown diamond” is also referred to as a “diamond”.
As of FTC, before the diamond was defined as a natural mineral, but today such a definition is no longer relevant as lab-grown stones are considered diamonds as well, inspite of not being unearthed.

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Image credit: De Beers


“When the commission first used this definition in 1956, there was only one type of diamond product on the market — natural stones mined from the earth,” the FTC said. “Since then, technological advances have made it possible to create diamonds in a laboratory. These stones have essentially the same optical, physical and chemical properties as mined diamonds. Thus, they are diamonds.”
According to the report, it is also necessary to define the notion of “cultured”, when describing the origin of lab-grown diamonds. FTC suggests using such words as “man-made,” “lab-grown” or “foundry.”
The commission believes that the word “synthetic”, which is frequently used to describe lab-grown stones, evokes negative associations among consumers. They think that such term qualifies the stones as fake and artificial, which is why FTC recommends to avoid using it.
The agency also noted that the Diamond Producers Association (DPA) intends to better address the jewelry guidelines before commenting on this subject.

Victoria Quri, Rough&Polished