Even though man-made diamonds have the potential to satisfy our appetite for sparkle, they may never rock the mined-diamond industry
It was just a single word, but by deleting one adjective from a federal guideline, a U.S. government agency redefined an elemental form and forced a North American retail industry – and its customers – to come to a new understanding of one of its oldest and most traditional products, diamonds.
That change created even more uncertainty for a segment of the mining industry that is already prone to cyclical highs and lows. The deleted word was “natural.”
Prior to the change in 2018, the Federal Trade Commission’s (FTC) Jewelry Guides – which the agency produces to help structure the market for precious metal, pewter, diamond, gemstone and pearl products – described diamonds as “natural stones that are formed of pure carbon crystallized in the isometric system, as long as they have been symmetrically fashioned with at least 17 polished facets. Continue Reading →