November 2021 | Lab Grown Magazine

November 2021 | The Lab Grown Diamond Resource Book 12 To advertise call (888) 832-1109 | November 2021 13 DISCLAIMER: Lab Grown Magazine assumes no responsibility for content, articles, or advertisement in publication. All rights reserved. Reproduction in whole or in part in any form without prior written permission of the publisher is prohibited. The publisher reserves the right to edit all articles for clarity space and editorial sensitivities. Publisher Zev Oster Manager David Oster Editor Cynthia Unninayar Features Writer Dan Scott Graphics / Production Kim Kennelly LabGrownAds@gmail.com Advertising & Sales LabGrownMagazine@gmail.com Circulation 25,000 Magazines Printed &Mailed Monthly Distributed at Show Bins 30 West 47th Street | Suite 707 New York, NY 10036 T: 888-832-1109 F: 212-257-7056 www.LabGrownMagazine.com A division of www.tbdstock.com | 213-988-7075 Available on: OUR LAB GROWN DIAMONDS & RINGS ARE FEAST TO THE EYE AND WILL LIFT YOUR BOTTOM LINE TO THE SKY Just Scan And try Sustainability and More One year ago, in the November 2020 issue of Lab Grown Magazine , we featured the third part of a three-part series entitled The Global Diamond Forum . These arti- cles looked at three gem laboratories that grade lab-grown diamonds, along with the opinions of the experts about the tech- niques used. At that time, too, theWorld Jewellery Confederation (CIBJO) released its Laboratory-Grown Diamond Guidance for review by members. It was the final stage in the CIJBO's two-year long pro- cess to create a harmonized set of operating standards intended to ensure consumer confidence. Today, as lab-grown diamonds have become mainstream, both mined and LGDs are competing with each other to try and gain this coveted consumer confidence. And, one big area of conten- tion is the claim of each sector, i.e. manufactured and mined, that it is the greenest , the most sustainable, the most socially responsible , the kindest to Mother Earth. In this vein, our feature article herein concludes a different three-part series, one devoted to the greenness of diamonds, to how some companies are greenwashing their activities, and what some sectors of the industry are doing in terms of sustainability, ethics, and social responsibility. It also offers possible solutions for re- tailers and manufacturers who want to demonstrate that they are indeed on the green side of things. It is definitely worth the read, and as usual, comments are welcome by the author Dan Scott. On the news front, LGDs continue to make head- lines. De Beers' Lightbox recently announced that it is sell- ing loose diamonds directly to consumers. Available in white, blue, and pink, in sizes up to 2 carats, their prices follow the company's $800 per carat structure. Initially, Lightbox is offering round brilliant and princess cuts, but stated that more cuts will be available next year. As an interesting aside on De Beers mined diamond front, its new $470M diamond recovery vessel, the world's largest, set sail from a shipyard in Romania to be fitted with equipment for work off the Namibian coast.The ship will use sub-sea crawling extraction techniques to get marine diamonds from the seabed. The gems will then be processed on board in a joint venture with the Namibian government. On the green front, LGD manufacturer Diamond Foundry announced a €740M project in Spain to produce single-crystal diamond chips starting in 2024. It claims to be able to manufac- ture 10 million carats in this facility, serving traditional diamond buyers as well as the semiconductor industry.The project will be the world's first to be entirely powered by solar electricity. And returning to standards and consumer confidence is- sues, the Responsible Jewellery Council is developing a stan- dard for lab-grown diamonds and gemstones. Its goal is to es- tablish best practices for their use in jewelry. The standards will include business intergrity, social, and environmental requirements, so that customers can be reassured that growers and sellers alike follow rigorous processes that ensure credibility and transparency in their operations. Happy Reading... Zev