As reported by Rapaport News, the IGI released a statement confirming it will continue to apply the universal ‘4Cs’ grading structure to natural and lab-created diamonds.
“Since inception, IGI has remained steadfast in its mission as an independent, third-party authentication body — unbiased and free from external influence,” the statement explained.
“This affirmation comes as many in the industry grapple with the unprecedented shift by others to a different, diluted scale for lab-grown diamonds sent to their locations.”
In a recent financial statement, it was revealed that 16 per cent of the IGI’s revenue is generated from the certification of natural diamonds, compared with 54 per cent for lab-created diamonds.
This statement follows the Gemological Institute of America’s decision to alter the terminology used when grading lab-created diamonds earlier this year. Belgium’s HRD Antwerp has recently confirmed that it will no longer provide certificates for loose lab-created diamonds.
In France, an unusual law around the advertisement of lab-created diamonds was recently reviewed. Discussion around controversial natural diamond marketing strategies has also generated headlines in recent weeks.
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