“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

17 june 2019

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

Russia doesn’t want synthetics to be passed off as natural diamonds - Russia’s Ministry of Finance

11 january 2019

Russia’s Vice Minister of Finance Aleksey Moiseev disclosed Russia’s views and intentions regarding synthetic diamonds in his interview with the Praim agency following the Russian Federation becoming Vice Chair of the Kimberley Process (KP) from January 1, 2019 and turning its Chair in 2020.
Answering the question why Russia put forward itself for the post of KP Chair, Moiseev said that Russia is concerned about blending synthetics to natural diamond parcels and intends to take measures to tackle this problem.
‘‘We are for fair and competitive global trading. We want, first of all, nobody to sell synthetics passing it off for natural stones,’’ he said. 
That is why, according to the interview, Russia intends to focus on diamond traceability strategy providing the provenance of diamonds from mine to stores in order to confront illegal diamond trading. 
Moiseev added that major diamond companies show their concern about lab-grown diamond injections in natural diamond markets. According to experts, he said, such blending accounts for about 20% of all polished diamonds traded globally. 
However the Vice Finance Minister also noted that in the end synthetic diamonds will take their place in global market and there is no need to fight against that, on the contrary it is important to try to take up regulatory activities to provide consumers with the guaranty of the product they buy - synthetic stones or natural diamonds. 

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg