Organizations behind lab-grown diamonds continue to push to conquer the market.
As miners of the precious stones are struggling across the board, particularly those unearthing cheaper and smaller gems where there is too much supply, companies producing synthetic diamonds are expanding their reach by incorporating consumer feedback into their manufacturing and commercialization processes.
According to Chris Casey, president of the New York-based Lab Grown Diamond Council or LGDC, compliance with labour and environmental standards are consumers’ top concerns when purchasing any kind of gemstones and other products.
This is why his organization decided to commission third-party SCS Global Services to create a sustainability standard for the industry, which should be ready in about six months.
“Today’s younger consumers want insight into the sourcing of virtually every product they purchase. When it comes to lab-grown diamonds, they are asking retail sales associates whether they are ‘eco-friendly’ or ‘sustainable’,” Casey told MINING.com. “The challenge is that these terms are currently unsubstantiated.”
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