Synthetics

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Members of the global diamond industry may still get the nomenclature wrong, calling them synthetic diamonds stones, but no matter what the name lab-created, lab-grown or cultured diamonds are causing considerable panic. Almost without trace, the output of factory-created diamonds has grown to an all-time high.

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Two new devices that are the most advanced developed by the Gemological Institute of America (GIA) for identifying synthetic diamonds were unveiled at a special ceremony at the Israeli bourse and are available for use by exchange members in the technology wing of the trading hall.

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Call them lab-created or lab-grown or cultured diamonds or, less accurately, synthetic stones. Call them what you will, but there is no doubt that the issue of such diamonds is once again causing widespread concern in the diamond industry globally. The production of factory-created diamonds is at an all-time high, indeed experts say that never in the past has it been possible to make them so easily and relatively inexpensively.

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Gemesis, a largest distributor of gem-quality, lab-grown diamonds, announces the sale on its site of what it calls the purest and largest Type IIa white diamond currently achieved.

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HRD Antwerp is to start providing a Synthetic Diamond Certificate service from September 2. The certificate will be issued where a diamond is found to be synthetic.

HRD Antwerp said that synthetic diamonds have increasingly made their way into the gem diamond market in recent times. While they still represent a small part of the market, their numbers are rising, the lab said.

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Two new high-profile developments in the world of synthetic diamonds by Gemesis Diamonds and the Royal Asscher company have served to put the spotlight on man-made diamonds and bid to show consumers how they can provide a lower cost alternative to increasingly expensive natural colored stones. At the Oscar ceremony in late February, Gemesis Diamond Company created a lounge for celebrities to view its colored diamonds.

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Some leading members of the Indian diamond industry believe the chances of the large-scale entry of synthetic diamonds into the market is low.

Synthetic diamonds are for the most part made for industrial needs for which they are best-suited, thus making them a lesser threat to the diamond jewelry industry, diamantaires told The Times of India.

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De Beers synthetic diamond maker Element Six has appointed Walter Hühn as its new CEO with effect from March 8.

Hühn is currently Executive Director of Advanced Materials and Technologies and based in Germany. He joined Element Six in 2008 to lead the Advanced Materials Division and became Director of Technologies in 2011.

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