Conflict Free Diamonds

Last July we wrote about two firms, Gemesis and Apollo, who were making man-made diamonds. The one thing we wondered as we wrote the article was how to shift people’s perceptions about ‘real diamonds’ and ‘man-made diamonds’ after all, aren’t diamond prices artificially created by the hoarding of surplus in vast vaults below DeBeers; and they have, at times, reached those vaults via dubious methods?

When we read about the Diamonds for Humanity project from Gemesis on Luxist we saw a possible angle that might connect with consumers: Conflict Free Diamonds. Gemesis positions itself as a company that grows diamonds from a “diamond seed” in a lab as opposed to being mined in conditions that often cause human rights concerns. 

Traditional diamond companies are none too thrilled though. They and resent the label of conflict-free since many diamonds are mined in areas such as Canada and Russia. Also several African countries rely on diamond mining: In Namibia, the diamond mining industry forms the backbone of the economy, generating about 70%-80% of the country’s annual export earnings and 20% of government revenue. In South Africa, the diamond industry currently employs 28000 workers in mining, sorting and valuing, cutting and polishing, jewellery manufacturing and retail. What would happen in the continent, PSFK wonders, if there was a major shift to man-made diamonds?

Business Day (Jo’Burg)
via Luxist

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