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China's Lab-Grown Diamonds Look Good

posted by martyb on Monday November 19 2018, @12:57PM   Printer-friendly
from the all-that-glitters-is-not-natural-diamond dept.

canopic jug writes:

De Beers Fights Fakes With Technology as China's Lab-Grown Diamonds Threaten Viability of the Real Gems.

The South China Morning Post writes that the dominant diamond player De Beers is reacting badly to the arrival of large numbers of good, tiny, lab-grown diamonds. The synthetics challenge the widely-promoted assertion that diamond prices only go up. However, labs are now able to produce chemically identical gem-quality stones, indistinguishable by the naked eye from mined diamonds, in quantities pushing 200k carats of diamonds per month. Synthetic diamonds still only account for %1 of rough diamond sales globally, but that is expected to expand to between 7.5% to 15% by 2020.

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  • (Score: 3, Interesting) by ElizabethGreene on Monday November 19 2018, @05:38PM (4 children)

    by ElizabethGreene (6748) Subscriber Badge on Monday November 19 2018, @05:38PM (#763939) Journal

    With this we can flood the market and run them out of business.

    I wouldn't take a wager on this. The De Beers cartel is an astoundingly powerful and ruthless organization. They can, will, and have started wars and overthrown governments to protect their interests. They are the one corporation that I genuinely fear.

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  • (Score: 3, Insightful) by bob_super on Monday November 19 2018, @06:16PM (1 child)

    by bob_super (1357) on Monday November 19 2018, @06:16PM (#763950)

    > They are the one corporation that I genuinely fear.

    They sell diamonds.
    I'm pretty sure they rank far below Monsanto, Dow & friends, Big Pharma, Big Oil, most of Wall Street ... on the list of evil corporations to be worried about.

    • (Score: 2, Funny) by Anonymous Coward on Monday November 19 2018, @11:29PM

      by Anonymous Coward on Monday November 19 2018, @11:29PM (#764066)

      Don't forget PBS. They created Barney.

  • (Score: 1, Touché) by Anonymous Coward on Monday November 19 2018, @06:27PM

    by Anonymous Coward on Monday November 19 2018, @06:27PM (#763954)
    Says the Microsofter.

  • (Score: 4, Interesting) by arslan on Monday November 19 2018, @11:54PM

    by arslan (3462) on Monday November 19 2018, @11:54PM (#764072)

    Sure they are, but so is the chinese commie party. If this Lab has the Chinese Commie party's backing, my money's on the Chinese to squash them like bugs. Maybe DeBeers can go toe-to-toe with the next big corp or even small-mid sized govies, but going against the Chinese behemoth is suicide.