- Aug 15, 2000
I would like to see the man made diamond industry flourish. Here are some of my reasons:
1. Now that the Argyle diamond mine has closed there will be about half the 'promotional' commercial grade diamonds available for polishing. That means a lot of diamond workers in India will become unemployed. LGDs can take over a lot or all of those tennis bracelets and stuff sold in Malls and Walmart's of the world. That will keep a lot of the people making that low cost jewelry employed.
2. LGD marketing has been using 'trading off' tactics. I have posted an article about Diamond Foundry below. Trying to mislead people is devious and will loose trust in all diamonds.
3. LGD marketing has focused too much on environmental issues. This approach has yet to be supported by any convincing evidence.
4. LGD marketing has been largely based on avoiding blood diamonds. This is almost totally a non issue today.
I have been in communication with Ian Smillie and the senior folk at DDI Resolve for the past month or so. Ian was the main whistle blower on blood diamonds with several books on the issue the first in the year 2000. I hope to have Ian on a live webinar when we get that set up on this revamp of the PriceScope website. Ian has grant me permission to share his comms with us. LGD Co's can not really hope to make diamonds more desirable by this negative approach IMHO.
5. Words words words! The war of words and language is not helpful. The staid old farts industry call LGD's synthetics grown in factories (not labs) and point out that with tools for a few hundred dollars gemologists (like me) can identify small fakes in jewellery and parcels of melee. Larger diamonds are certified and labs have no issues there. LGD Co's use mined not natural and so it goes. Use of weird words like cultured ..........
A plus in all this is that the natural diamond industry is getting its act together.
Sarine has begun a mine to retailer tracking system and other companies looking at supply chain using block-chain technology, an Aussie company is a leader in that space.
I have several suppliers now who tell me where individual diamonds came from.
Even De Beers has made several really good moves:
a. They chose the largest hydro place for their LightBox factory.
b. They are exploring carbon capture in old mine kimberlite.
c. They are establishing buying services to give artisinal miners fair prices (currently a lot of bad entrepreneurs sponsor a village to mine their area and lock them into poverty traps).
d. De Beers are sharing country of origin
There is a place for both natural and grown diamonds. I also believe that LGD's will be really good for natural diamonds and will result in raised prices - a view most people do not understand. I made the point in this webinar at 8 minutes in:
Mud slinging at competitors has never been a really good business strategy.