Don’t panic, but synthetic diamond production is soaring :: Mmegi Online

The numbers of synthetic diamond labs in India is due to jump to 9,000 this year from 6,000. In the US last year, a third of all diamond engagement rings sold were synthetic and diamond giant, De Beers, says labs are increasingly innovative in their treatments to mask their stones. But natural diamond experts say there’s no need for panic, reports Staff Writer, MBONGENI MGUNI

For the outside observer, of late, the diamond industry has been dominated by debates over the sanctions against Russian diamonds, the efficacy of the Kimberley Process and more recently, De Beers’ negotiations with Botswana.

Debates on lab grown or synthetic diamonds – which exploded onto the news in the 2000s and posed an existential threat to the natural stones as well as economies reliant on them – appeared to generally take a backseat in recent times.

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