GIA Holds Talks On Diamond Origin Tracking Service

Finance and Trade
21/07/2016 14:56

The Gemological Institute of America (GIA) is joining diamond miners such as De Beers and Alrosa in investigating the possibility of tracking the origin of diamonds, JCK's Rob Bates reports. "The GIA has confirmed talk that chief laboratory and research officer Tom Moses discussed a diamond origin tracking service at the recent JCK show in Las Vegas. While GIA offers origin reports for some colored stones, this would potentially involve tracking a diamond’s movements," he writes. “We are looking at a service that would track a diamond through the supply chain,” spokesperson Stephen Morisseau told Bates. “It would be a service we could potentially offer.” No further information on the service, or how it would work, was available.

Diversified miner Rio Tinto says 67 percent of consumers put a value on a diamond’s origin, and 75 percent say they care how diamonds are mined, according to the report. In addition, Signet Jewelers, the biggest jewelry retailer in the United States which also has stores in Canada and the United Kingdom and which buys $1 billion of polished every year, is launching a program among suppliers for them to show the firm the origin of their rough goods.