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Industry concerns regarding the non-disclosure of lab-created diamonds appear to be increasing
Industry concerns regarding the non-disclosure of lab-created diamonds appear to be increasing
 









Australia to help combat diamond mixing

A GIA synthetic diamond detection machine soon will be made available in Australia, due to an agreement between the association and the World Federation of Diamond Bourses.

Under the new arrangement, the Gemological Institute of America (GIA) will make synthetic diamond detection equipment available to members of the World Federation of Diamond Bourses (WFDB), which includes the Diamond Dealers Club of Australia (DDCA).

While DDCA president Rami Baron confirmed that the club would receive one of the diamond-testing machines, he said an exact date was still being finalised.

The equipment will reportedly greatly assist in helping to detect the “illegal” mixing of synthetic and natural diamonds.

“Having such a machine will assist those merchants and retailers who want to check the goods that they are purchasing, giving them peace of mind that their supplier is not misrepresenting merchandise knowingly or otherwise,” Baron said.

Rami Baron, president of the Diamond Dealers Club of Australia
Rami Baron, president of the Diamond Dealers Club of Australia
“We don't believe everything needs to be tested but more on a random or sample size to give everyone peace of mind.”

Baron added that because Australia represented just 2 per cent of the world diamond trade, the local industry was, to a large extent, “buffered” from the problem of non-disclosure of synthetic stones. He said however, that the lack of exposure could also potentially result in the industry being a soft target. 

“My concern is finished goods coming into the country from China and India, where the retailer has no way of being able to test these products. In addition, I am concerned for the local labs that haven't invested in the latest equipment as they could be caught out with their certification.”

Furthermore, a statement by the WFDB noted: “The WFDB is committed to enforcing its stand of ‘zero tolerance’ in the non-disclosure of synthetic stones.” 

According to the organisation all parties involved in the diamond supply chain need to work together to protect the industry and ensure consumer confidence. 

Concerns regarding the non-disclosure of lab-created diamonds appear to be increasing. The agreement between the GIA and the WFDB follows on the heels of news that a number of Indian-based trade groups have developed initiatives to manage the undisclosed mixing of synthetic and natural diamonds.

The Diamond Manufacturers and Importers Association of America (DMIA) has also announced that it will host an industry-wide meeting to put enforceable measures in place to prevent lab-created diamonds being presented as natural diamonds. 

The WFDB was founded in 1947 and is the largest diamond organisation representing 28 affiliated diamond bourses worldwide, including Australia.

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Sunday, 18 August, 2019 01:46am
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