November 2020 - Lab Grown Magazine

November 2020 | e Lab Grown Diamond Resource Book 14 To advertise call (888) 832-1109 | November 2020 15 The overdue collective conversation on man-made and mined diamonds continues. Part Three of a Three-Part Series By Dan Scott T his series was meant to end in this third part, but reader reaction has been so in- creasingly positive, and there is so much more news to share that we couldn’t fit it onto these seven pages. That may seem hard to be- lieve, but you’ll soon realize why. Writing these articles requires much re- search, interviews, fact-checking and align- ing references. We are presenting worldwide diamond challenges and doing so with no fear. Every aspect of what you are reading are undeniable facts typically restricted to off- the-record conversations. In these challenging times, transparency is more critical than ever, so as we expose complications, we reveal suggested solu- tions. These topics affect your business. If you’re moved by these conversations, join us. Visit Lab Grown Magazine’s Facebook page at https://www.facebook.com/LabGrownDia- mondMagazine and be a part of an online community with no filter, just facts. Before I delve into the topic of this article, which is about laboratories that grade lab- grown diamonds, I want to briefly summa- rize some of the requested topics that couldn’t fit into this issue, but that will be covered in the near future. ♦ Lightbox Diamonds continues to not certify its lab-grown stones, despite what you may have read or heard. It also doesn’t sell en- gagement rings; it’s all about fashion jewelry. ♦ CIBJO, the World Jewellery Confedera- tion, asserts that gem laboratories should not use the term “grading” in documents relat- ing to LGDs. Instead, they suggest that gem labs use a procedure and document called Laboratory-Grown Diamond Product Specifi- cations . Interestingly, no U.S. lab was consult- ed by CIBJO in its more than two-year long discussions. Furthermore, CIBJO’s guidance is not legally enforceable in the U.S., and we don’t expect any credible labs to follow these guidelines for LG reports. ♦ “The Earth no longer makes real dia- monds.” “There are so few one-carat dia- monds being recovered each year, the total number would fill only one exercise ball.” These bold statements under the header of “Diamonds are extremely rare” are a recent addition to the Natural Diamond Coun- cil (NDC) website. We’re in the process of exploring these claims for a future story, but since David Kellie, NDC’s president, re- frained from comment, other than stating that his attention is focused on NDC’s new campaign, we asked other experts. Here’s what they had to say: Henry Ho, Founder and Chairman Emeritus of the Asian Institute for Gemological Sciences (AIGS) and the Jewelry Trade Center, said, “The ‘diamond facts’ you have referred to in the Natural Diamond Council’s link are un- substantiated.” Luxury leader, Pam Danziger responded, “If these facts are true, there is no better jus- tification for lab-grown diamonds. The Earth is a finite resource that we are responsible for protecting and preserving. Man-made dia- monds grown under laboratory conditions are the only ‘natural’ way to meet future de- mand for this most valuable stone.” Brittany Lewis, CMO of WD Lab Grown Diamonds stated, “While this is an interest- ing theory, the Natural Diamond Council has failed to provide sources or evidence sub- stantiating this information.” The source(s) of NDC’s significant state- ments surely must be backed by hard numbers published by credible sources somewhere, thus my diamond data dig continued… When asked about NDC’s claim on natu- ral, white diamonds being “extremely rare,” Bob Gannicott, Chairman and CEO of Harry Winston said, “We’ve already had the T-bone steak and we’ve already had the prime rib roast of this particular animal. We now have to move onto the hamburger and the De Beers’ Venetia Underground Project, along with a list showing the reduction in global diamond production over the last few years. Interesting state- ments appearing on NDC’s website specific to natural diamond education. Underlines added for emphasis. (NaturalDiamonds. com) chuck steak.” To give context to Gannicott’s quote, he was referring to the depletion of multiple diamond mines (such as Winston’s 40% stake in the Diavik mine in Canada) and support for NDC’s stance on “rare,” yet he did not cite any numbers. Rare, Scarce... or Neither? As I dug deeper, this natural diamond di- lemma may be more of a debacle. Data from De Beers, still the world’s largest diamond mining and manufacturing operation, gave conflicting information and still did not ad- dress the science behind NDC’s statements. Note De Beer’s now-public 2019 release of The Venetia Underground Project and its yearly mining carat counts and projections. The numbers are dropping, but hardly defend the definition of “rare,” rather moving towards the word “scarce.” But even scarcity comes into question. Earlier this year on CNN , Bruce Cleaver, CEO of De Beers Group spoke of De Beer’s $468 million cash- infused ocean vessels that are set to suck up gem- quality diamonds from the seabed. “Some of the highest quality diamonds in the world are found in the sea off the Namibian coast,” Cleaver said. “With this investment, we will be able to optimize new technology to find and re- cover diamonds more effi- ciently and meet consumer demand across the globe.” Meet global dia- mond demand? So much for natural dia- mond rarity or scarcity, or so it would seem. And you won’t believe what was unearthed next. It’s utterly out-of-this-world and will be discussed in the December issue of Lab Grown Magazine. The Labs Behind the Certified Truths “Lab-grown diamonds (LGDs) are grow- ing in demand. With the holiday season in full swing, an industry concern surrounds the amount of LGDs at market, more precisely, how those diamonds are being represented and sold,” noted Patrick Milam, VP of Sales for Ritani. “Consumers are rightfully de- manding formal diamond identification and documentation. I’m seeing some merchants investing in a new form of protection— in-store equipment to separate natural and lab-grown stones. No one wants a repeat >>