#5 ARE NATURAL DIAMONDS RARE? Yes! Global natural diamond recovery peaked in 2005 and has decreased by over 30% in the last 16 years. The annual recovery of all natural diamonds 1-carat and above can fill just 1 exercise ball. Diamond formation took place millions, sometimes billions, of years ago in limited zones on Earth. #6 WHAT IS THE NATURAL DIAMOND INDUSTRY DOING TO REDUCE ITS CARBON FOOTPRINT AND PROTECT BIODIVERSITY? The natural diamond industry has set out on its journey to decarbonize in line with global climate targets. Companies like the De Beers Group are committed to becoming carbon neutral by 2030 and Rio Tinto of achieving net zero emissions by 2050. Plus, the diamond industry actively protects the biodiversity covering an area 4 times larger in size than the land they use
#7 DO NATURAL DIAMONDS BENEFIT THEIR COUNTRIES OF ORIGIN?
Yes! The natural diamond industry supports the livelihoods of 10 million worldwide. Up to 80% of rough diamond value can remain with local communities thanks to local purchasing, employment benefits, social programs, investment in infrastructure as well as the taxes, royalties and dividends paid from the industry to respective governments.
#8 HOW DO I KNOW WHETHER I’M PURCHASING A NATURAL OR A LABORATORY-GROWN DIAMOND? Any organization selling laboratory-grown diamonds, such as retailers or jewelers, are legally required to disclose it is man-made and must use approved terminology when communicating with clients. #9 IS THE INDUSTRY STOCKPILING DIAMONDS TO DRIVE-UP PRICES? No. Bain & Company reported that inventories across the world declined by 40% in 2021 based on data from company reports and the Kimberley Certification process that governs the rough diamond trade.
#10 WHAT ARE THE WORKING CONDITIONS LIKE IN THE DIAMOND INDUSTRY? NDC members ensure that working conditions are followed to the highest global standards within their mining operations. Plus, 99.7% of employees of NDC members are hired locally and one-third of the natural diamond mining industry are women.
#11 ARE NATURAL DIAMONDS TRACEABLE? The natural diamond industry is accelerating its traceability initiatives and leveraging technology like blockchain to bring transparency to its supply chains.
59 ALBERT’S DIAMOND JEWELERS MAGAZINE
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