Jeweller - December 2021

News
Grown Diamond Association launches IGDA 2.0
The International Grown Diamond Association
(IGDA) has launched IGDA 2.0, which is a
completely revamped version of the trade
association aimed at supporting and serving the
rapidly expanding lab-created diamond industry.
“IGDA 2.0 will provide focused services to support
the growing number of global lab-grown diamond
companies,” Dick Garard, executive director, said.
“We have an aggressive strategic plan that
begins with the involvement of the entire global
lab-grown diamond industry, many longtime
supporters, and the welcome addition of newer,
younger members.”
The event was highlighted by the launch of its
new website, announcement of a new wideranging
board of advisors, distribution of a
new consumer point of sale and promotional
materials, sales associates training, and a newly
established network of international chapters.
Other priorities of the association include
educating consumers and promoting lab-created
diamonds internationally.
“Clearly consumer interest in the lab-grown
diamond category is growing rapidly and
globally,” Anna-Mieke Anderson, founder, and
CEO of US-based lab-created diamond retailer
MiaDonna, told Instore.
“In response to the consumer demand, there
has been a significant increase in the number
of retailers stocking the product, as well as
an expansion in the number of designers
and manufacturers incorporating lab-grown
diamonds into jewellery styles.”
IGDA was established in 2016 as a nonprofit
group to serve as the centre for education,
communication, and development of the
lab-created diamonds industry worldwide.
China’s lab-created production hit by power crisis
Liu told Bloomberg that around three million
carats of lab-created diamonds are produced
annually in China, which is almost half of the
seven million carats made globally each year.
While the impact is “not too significant so far,”
according to Liu, producers have expressed
plans to increase prices without providing
specific details.
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HPHT Cubic Press Machines in action.
The current energy crisis in China has taken
its toll on the country’s lab-created diamond
industry, as production dropped by 10-15 per cent
in the past month or so which could cause prices
to increase towards the end of the year.
The rising prices for coal used for power
generation and the effects of the COVID-19
pandemic were blamed for the power shortages,
according to Liu Houxiang, a consultant at China’s
National Gemstone Testing Center.
Police have charged a 42-year-old man who was
allegedly running a diamond scam that earned
him more than a million dollars.
The Melbourne man claimed that he owned a
diamond mine in Sierra Leone. He is accused
of scamming three people by offering them the
opportunity to ‘invest’ in his mine.
After an initial down payment, people were asked
The manufacture of lab-created diamonds
requires extreme temperature and pressure to
replicate the diamond-making process and can
only be achieved when power demand is met.
However, the lab-created diamond industry is not
the only industry impacted by the power shortage
that started in the Chinese summer. Among the
hardest hit since September are manufacturing
companies such as apparel factories, metal
producers, and suppliers for Apple products.
Currently, China is one of the largest producer
and consumer markets for lab-created diamonds
in the world for use in jewellery, technology,
medical, and industrial use.
Diamond fraudster charged after $1 million scam
to provide equipment and gifts for his staff, and
after receiving the items the man sold them
offshore.
It was a profitable con, as police said that the
three alleged victims provided the man with more
than $1.4 million combined, with one providing
the man with more than $1 million, and the other
two ‘investing’ at least $100,000 each.