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The debate between lab-grown and natural diamonds continues, with significant differences in ethics, value, and origin. Make no mistake – lab-grown diamonds are synthetic, just like synthetic corundum (ruby and sapphire), which has been produced since the 1880s. While these stones share the same physical properties as their natural counterparts, their value is significantly lower. Historically, synthetic rubies have been used in industry and costume jewellery.
The world’s largest producers of lab-grown diamonds – China, Russia, and India – have invested heavily in machinery and marketing, seeing massive profit potential. These companies promote lab-grown diamonds as ethical and sustainable, but the reality is more complex. Their production methods, such as High Pressure High Temperature (HPHT), are energy-intensive, often relying on fossil fuels. As a result, the carbon footprint of lab-grown diamonds can rival or even exceed that of responsibly mined natural diamonds.
In contrast, countries like Botswana, Canada, and Namibia, which mine natural diamonds, adhere to strict regulations ensuring carbon neutrality, land rehabilitation, and ethical mining practices. They also follow the Kimberley Process, a global certification system established to prevent the trade of conflict diamonds. Today, 86 countries comply with Kimberley Process standards, ensuring that natural diamonds are mined and traded responsibly.
When lab-grown diamonds first entered the market, they were priced at half the cost of natural diamonds. Since then, their value has plummeted by 90%, reinforcing their status as a mass-produced product rather than a rare, precious gemstone. With prices now so low, they are increasingly used by brands like Pandora as a replacement for cubic zirconia and moissanite.
Ultimately, the choice between lab-grown and natural diamonds comes down to personal preference. However, beyond the marketing narrative, natural diamonds possess a rare magic – formed over 3.5 billion years. When sourced responsibly, they support the livelihoods of many people in diamond-producing countries like Botswana, providing jobs, infrastructure, schools, hospitals, conservation and economic development in a way lab-grown diamonds cannot. In contrast, lab-grown diamonds primarily benefit the manufacturers.
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