Lab-grown Diamond sector starts new year with a bang

Lab-grown Diamond
[Image Courtesy: ePRNews]

Canadian jeweler introduces Lab-grown diamond jewelry

Woodbridge-based Damiani Jewellers will be showcasing new line of Lab-grown diamond jewelry of Amden Jewelry at its outlets. The collection includes Lab Grown Diamond of VS clarity and of GIA grading D and E colors, set in 14k white gold in form of earrings starting at $800, tennis bracelets starting at $3,300, necklaces starting at $650 and rings starting at $4,000. Greater Toronto’s premier jewelry retailer, 60-year old Damiani Jewellers is the authorized retailer of Amden Jewelry.

 

Sales of Lab Grown Diamonds surged in 2019

While mined diamond sales continued to fall by 25%, sales of Lab-grown diamonds globally surged in 2019. Pre-Christmas Exports of Lab-grown diamonds from India rose by 111% to INR 155 Crores in November 2019, compared to only INR 73 Crores in same month last year. Compare this to Indian exports of polished mined diamonds, which fell by around 25%, and even more in value terms.

 

Diamond Trading Platform Diamnet adds Lab-grown diamonds

UK-based diamond trading platform – Diamnet, which already carries 250,000 mined diamonds from top suppliers in UK and abroad, has now added Lab-grown diamonds to its services.

Howard Levine – Founder, Diamnet says “There is a lack of understanding in the UK trade towards laboratory-grown diamonds and Diamnet is in the perfect position to clarify things as we are constantly being asked if lab-grown diamonds can be added without harming the sales of natural diamonds. We say they can. After all, it was not long ago that silver had no place in an independent jeweller and yet where would many be today without it.”

Without having to purchase any stock, UK jewellers can now offer Lab-grown diamonds on Diamnet to test waters. While Customers can directly compare Lab-grown diamonds with mined diamonds and get information 24X7. A free service to UK retail trade, Diamnet’s platform can be integrated to a retailer’s website or even viewed in-store.

 

Chicago-based Mine Jewelry offering Lab-grown diamonds

Co-founded by Josh Navon and Biren Bhansali, Mine Jewelry based out of Chicago is now offering Lab-grown diamonds. While the existing collection can be viewed on their website, new Valentine’s Day special collection will be rolled out soon.

 

Kentucky now has a 1,000 carat a month Lab-grown diamond growing facility

Kentucky Advanced Materials Manufacturing (KAMM) partnered with University of Louisville’s (UofL) Conn Center for Renewable Energy Research to implement a diamond-growing facility for various applications including gems usage. KAMM is a subsidiary of Da Vinci Holdings that has jewelry manufacturing (cutting and polishing), trading and polishing operations in the diamond industry. Da Vinci has also operated diamond growing operations in India for past decade and is now establishing similar operations in Belgium. KAMM’s existing facility currently produces 1,000 carats per month Type IIa Lab-grown diamonds for both gem and industrial applications.

 

LGD grower sees future of Israel’s diamond industry in Laboratory-grown diamonds

Tech-pioneer Benny Landa, Chairman of Israel based Lab-grown diamond producer – Lusix, pointed out that the once thriving diamond industry in Israel has now been reduced only to trading, with flight of diamond cutting and polishing sifted to India, which may never return. But there is a chance of Israel’s diamond industry to regain its earlier position by venturing in Lab-grown diamond production. Lusix currently has 76 CVD (Chemical Vapor Deposition) reactors to grow LGD in city of Rehovot. Benny wants to expand its operations across Israel, if government regulations are favourable. Benny is known as a tech pioneer for founding Indigo – a digital printing company in 1997, and later selling it to HP in 2001 for $629 million.

 

Lab-grown Diamonds may help lift India’s diamond processing sector from slump

President of Surat Diamond Association (SDA) – Dinesh Navadiya pointed out that India is now venturing out to Lab-grown diamonds. With low capital requirements for Raw Materials (rough Lab-growns) resulting in lesser Working Capital needs, Lab-grown diamonds can help address the financing trouble diamond industry is going through, and with no changes in diamond processing between mined and Lab-grown and growing exports of Lab-growns, and lift India’s diamond processing sector from slump.

 

Diamond Nanoparticles to help in drug delivery

Findings of a recent scientific study showed potential for diamond nanoparticle’s application in drug delivery of amlodipine into the brain and possibility of other drugs into brain. The said study successfully demonstrated loading of amlodipine onto nanodiamond particles (Nanodiamonds), which are biocompatible drug delivery platforms.

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