The ‘unsustainable’ price of lab-grown diamonds has collapsed 60 per cent, says De Beers, after stunning industry with synthetic stones for jewellery

//The ‘unsustainable’ price of lab-grown diamonds has collapsed 60 per cent, says De Beers, after stunning industry with synthetic stones for jewellery

The ‘unsustainable’ price of lab-grown diamonds has collapsed 60 per cent, says De Beers, after stunning industry with synthetic stones for jewellery

Wholesale prices for lab-grown diamonds have fallen by up to 60 per cent since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall.De Beers, part of mining group Anglo American, shocked the diamond industry last year when it announced it was reversing a decades-old policy of selling natural diamonds only for jewellery and synthetic stones for industrial uses.Its Lightbox brand, created for…

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By | 2019-02-21T18:32:06+00:00 February 21st, 2019|Business|Comments Off on The ‘unsustainable’ price of lab-grown diamonds has collapsed 60 per cent, says De Beers, after stunning industry with synthetic stones for jewellery