‘Pandora ditching mined diamonds for lab-grown ones’ 4 May 2021

The world’s biggest jeweler announced Tuesday it will drop mined diamonds from its glass cases and sell only lab-generated ones, a pointed move for an industry that relies on scarcity for value and a reflection of consumer demand for sustainability and ethical sourcing. Copenhagen-based Pandora’s foray into man-made diamonds, which can be produced at a fraction of the cost and time, reflects a reorientation of the jewelry market brought on by the pandemic and the sentiments of younger buyers, who are more likely to factor in environmental and human rights concerns when choosing products.

…Pandora says its lab-created diamonds have the same chemical and physical characteristics (carbon) as those excavated from mines, and are still graded by cut, color, clarity and carat. They’re produced in hot, pressurized chambers within weeks, which can require a lot of electricity but still can be produced for a third of the mining price, while those pulled from the earth are formed over centuries. “There is a place in the market for natural and laboratory-grown diamonds, driven by consumer preferences and choices. Man-made colored gems have coexisted with natural gems for more than a century,” according to Stephen Morisseau, a spokesman for the Gemological Institute of America, a nonprofit that developed the international diamond-grading system.

… Beyond environmental concerns, diamond mining is controversial because of reports of abusive working conditions and child slavery in the mining industry, particularly concentrated in southern Africa. The Kimberley Process, backed by the United Nations, works to address instances of rough diamonds used to finance conflict and war in Sierra Leone, Angola, Ivory Coast and Congo. But diamond industry players contend lab-made diamonds will eliminate work for miners and upset local economies in artisanal mining communities.