“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...

18 march 2019

Russia’s export legislation is like a log on the road making it difficult to drive through

Eduard Utkin, General Manager of the Russian Jewellers Guild Association, which is a member of the Russian Federation Chamber of Commerce and Industry, answers the questions from Rough & Polished regarding the activities of the country’s professional...

11 march 2019

Botswana mum on new demands as negotiations with De Beers draw closer

Botswana said it will begin new diamond marketing and sales negotiations with De Beers in June or July this year. Mineral resources minister Eric Molale told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Cape Town, South...

04 march 2019

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

Graduating in International Business from an Institute in Sydney, Australia, in 2015, Jack Chen returned to China to start managing his family-owned jewellery business. Besides holding a certificate in a practical diamond course at Gemological Institute...

25 february 2019

Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

18 february 2019

Position of Russia’s Jewelers Guild on lab-made diamonds fully coincides with that of CIBJO, GIA and the Ministry of Finance of Russia

13 august 2018

In July 2018, the US Federal Trade Commission (FTC) expanded the definition of "diamond" and now a lab-made polished diamond turned to be a “diamond” as well.
Previously, the FTC defined only natural polished diamonds as diamonds. According to the FTC, such a definition ceased to be relevant, as from the chemical and crystallographic points of view lab-made diamonds are also diamonds even though they were not formed in the bowels of the Earth.
Moreover, the FTC generally believes that the word "synthetic", which is used to describe lab-made diamonds, causes incorrect associations among buyers (!). The FTC believes that the term "synthetic" defines a stone as not real or artificial, and therefore the commission recommends not to use it (!).
Meanwhile, just four years ago, at the CIBJO Congress in Moscow (Russia’s Jewelers Guild is a member of this organization) its Diamond Commission proposed that from now on the definition of diamond would also add the following: "[A] diamond is a mineral, which has been formed completely by nature without human interference during its formation. A diamond may subsequently be modified by normal lapidary practices."
CIBJO's position is that polished diamonds without indicating their artificial origin can be perceived by customers as natural, which does not correspond to reality. This is why synthetic polished diamonds should by all means be disclosed as synthetic, for which purpose Clause 4.3.1.1 of the Diamond Blue Book states: "The fact that a synthetic diamond is wholly or partially synthetic shall be disclosed. Only the term "synthetic", "laboratory-created" or "laboratory-grown" shall be used to describe synthetic diamonds. These terms shall not be abbreviated ... and shall be equally as conspicuous and immediately precede the word "diamond".
In addition, the Diamond Commission at that time considered the customs tariffs using the same tariff for natural and synthetic stones, since there was no separate tariff for synthetic diamonds, and said this situation was inadmissible, as this could theoretically lead to a situation, when someone can say that natural and synthetic stones are identical, because the customs fee is the same for both.
The Gemological Institute of America (GIA) has a similar view (on the inadmissibility of mixing natural and synthetic diamonds). And a similar resolute position is occupied by the Russian regulator. Only two years ago, Russia’s Federal Law "On Precious Metals and Precious Stones" added a formulation saying that “materials of artificial origin having the characteristics (properties) of precious stones shall not be considered as precious stones.”
Accordingly, the latest edited version of Clause 65 in Resolution No. 55 dated 19.01.1998 states: "While using materials of artificial origin possessing the characteristics (properties) of precious stones as inserts, their tags shall indicate that such stones are not precious."
The position of Russia’s Jewelers Guild on this issue was reflected in the corporate standards developed for gem-quality stones and it fully coincides with the positions of CIBJO, GIA and the Ministry of Finance of Russia.

Vladimir Zboykov for Rough & Polished