Lab-grown diamonds account for less than 2% of global diamond supply. Though currently there are only few companies like Diamond Foundry, Scio Diamond, Lucent, IIa Technologies, Chatham et al involved in production of Lab-grown diamonds, the industry is poised for dramatic growth in coming years.
In the sprint of making a larger place for Lab-grown diamonds in jewelry industry, Russia’s New Diamond Technology (NDT) has crossed another milestone and has become well known among peers for breaking its own records. Reportedly, it recently produced the world’s largest lab-grown blue diamond, a 10.07 carat fancy deep blue, SI 1, Asscher cut stone. The diamond has been graded by IGI. NDT’s previous notable blue Lab-grown diamond was a 5.03 carat stone, half of its new diamond.
An online article some time back had purported that it is difficult to value and sell Lab-grown diamonds but NDT’s previous 5.03 carat blue diamond was sold to a retailer for USD 250,000. A buyer bought it from the retailer for an undisclosed price.
Last year, NDT had produced a record breaking colorless Type IIa 10.02 carat, VS1 clarity, E color diamond, which was certified by IGI Hong Kong. However, this time, the company broke its own previous record. However, all these records are for cut and polished diamonds. NDT has at least produced a 32.26 carat Lab-grown rough, from which the earlier 10.02 carat colorless stone was cut.
According to a last year’s article, NDT’s facility in St. Petersburg has over 50 HPHT (High Pressure High Temperature) presses, producing over 5,000 carats of diamonds per month. NDT uses much larger cubic presses to produce large diamonds in one run in a cycle of 10 to 12 days.
The record breaking 10.07 carat blue Lab-grown diamond is supposedly set to be unveiled at this year’s Hong Kong Jewellery & Gem Fair. Official announcement from NDT about this development is though yet to come.