Does the Lab-Grown Diamond Industry Need to Develop its Own KP?

Finance and Trade
07/03/2016 13:58

The International Grown Diamond Association (IGDA) was launched last month, and industry analyst Chaim Even-Zohar quickly revealed flaws in its structure as well as major transgressions against accepted nomenclature, according to a blog on GemKonnect. In addition, the IGDA doesn’t seem to have done anything about the hugely important issue of the undisclosed mixing of lab-grown diamonds with parcels of natural stones. And the recently revealed scandal of CVD-created diamonds being sold with GIA grading reports has done little to calm nerves.

"If they are to establish themselves as a legitimate 'go to' global trade body for lab-grown diamonds, the IGDA has, to begin with, bring every independent lab-grown diamond producer under its administrative umbrella. Having established that it truly represents the global industry, it has to establish a process pipeline audit system akin to the Kimberley Process (KP) that the natural diamond industry uses," according to the blog. This audit system has to bring in the technology companies that provide the equipment to manufacture lab-grown diamonds into its fold, and there needs to be a clearly separated production pipeline for lab-grown diamonds to enable the natural and lab-grown industries to both prosper.