While lab-grown
diamonds are chemically identical to natural diamonds, what sets them apart is
that they are not rare. In contrast, the latter is at least gem-quality above
one carat.
We will not replace
natural diamonds, but we will provide a long-term solution for people who cannot afford them.
When considering
lab-grown diamonds, here are some of the myths that lovers of natural diamonds
believe should be dispelled (or at least that these myths should not be the
reason why one must buy a lab-grown diamond):
Natural diamonds are not rare.
Gem-quality diamonds
with the finest color and clarity grades are
rare, and the mined supply has been shrinking for decades. Sizes larger than
one carat are scarce; the larger they go, the rarer they get.
Natural diamonds affect the environment and support terrorism.
DeBeers is mainly
responsible for inventing this myth in the 1960s to resist competition from
small-scale artisanal miners in central Africa. The latter sold and exported outside the DeBeers sight-holder system, usually straight to Israeli
cutters. Admittedly, diamond mining has aided in financing African conflicts,
but so has the mining of various other resources, which are still
mined today and employed in goods that people enjoy. Diamond mining has a
negligible environmental impact compared to the scale at which we destroy the
environment for agriculture. Diamond mining is also a significant source of
income for many African countries, giving many people the best chance to get a
good job.
Synthetic vs. lab diamonds.
It is relatively
uncommon for people to know where these synthetic diamonds are grown. They are
created in laboratories, the vast majority—70 percent—of which are in China.
The phrase "lab" was deliberately fostered to make them appear more
acceptable; indeed, the growers worked hard to get the term
"synthetic" banned, even though that is precisely what they are. They
realized it would sound unappealing to consumers.
Lab-made diamonds are more ethical or environment-friendly.
70% of today's lab
diamonds are created in China, which is rising. To put it plainly,
China, the world's leading emitter of CO2, needs an outstanding human rights
record. Most of China's power—the power required to produce those
diamonds—comes from highly polluting coal-fired power plants. In the few
scientifically thorough studies of carbon emissions necessary to generate a
carat of gem diamond, mined and synthetic diamonds were found to be on par or
extremely close to one another. Of course, this ignores the reality that man-made
diamonds still require mining: Every stage of their operation necessitates
mining, whether coal for China's power plants or raw minerals for the equipment
they need to grow them.
Jewelers make more on natural diamonds.
Since naturally
mined diamonds come with heftier price tags than their synthetic counterparts,
it is assumed that jewelers prefer to deal in them for greater profits. The
truth, however, is quite the opposite. Jewelers' margins on natural diamonds
are slim, but they can profit handsomely from synthetic diamonds. The wholesale
cost of lab diamonds has dropped dramatically in recent years and can be acquired at 90%+ less than the price of natural diamonds.
DeBeers has a monopoly on diamonds.
As mentioned before,
DeBeers had a role in distorting the image of synthetic diamonds, but
since the 1980s, this has fortunately not been the case. In fact, in the last
25 years, this has become even less true. Other firms and/or nations manage massive
mining operations without DeBeers' cooperation.