Lab-Grown Diamond Prices Collapse Amid Boom Projections
Rohit Mehta, CEO of Four Link Ventures, stated that lab-grown diamonds are cheaper and more ethically and environmentally sourced than natural stones. Mataram noted the lab-grown industry grew from 1% of the global market in 2015 to approximately 20% currently. He stated that the claim that lab-grown diamonds are better for humanity is untrue and not defined by science. Stanley Mataram stated that allegations of environmental destruction leveled against artisanal diamond mining have been exaggerated. Mataram described classic hard rock diamond mining as the cleanest form of mining because no chemicals are used in the process. The consultant advocated for a "mind-to-market" approach to ensure the traceability of gemstones or diamonds. They expressed skepticism regarding efforts to educate consumers on the value of natural diamonds.
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Sources · 7 independent
“He says that lab-grown diamonds aren't just cheaper, they're also more ethically and environmentally sourced. There's no blood on these stones, he argues.”
“He completely rejects the idea that lab grown is somehow better, either for the planet or for humanity. I would bluntly say it's untrue.”
“Stanley Mataram also says that the allegations of environmental destruction leveled against artisanal diamond mining have been exaggerated. It's hard rock mining. It is the cleanest form of mining.”
“the lab-grown community has touted it as being ethical and eco-friendly and all this kind of stuff and you know I could never buy that.”
“There may be a situation where the dependence of the industry on the naturally mined diamonds is going to be less and people will be looking more towards lab-grown diamonds”
“the dependence of the industry on the naturally mined diamonds is going to be less and people will be looking more towards lab-grown diamonds”
“Prices have significantly collapsed which has reduced the beauty of the story behind the diamond and brought down the value. There may be a situation where the dependence of the industry on the naturally mined diamonds is going to be less.”
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