This week in the world of diamonds:
Efforts are being made to highlight the positive impact of diamonds, coinciding with the ten-year anniversary of the Diamond Empowerment Fund. The organisation behind the Diamonds Do Good website, DEF are seeking to further the awareness of the diamond industry’s positive impact when it comes to local infrastructure and communities. While transparency is being sought, representatives are aware that consumers may still be sceptical about the industry’s conflict-free goals. In light of this, discussions are extending beyond diamond sourcing and revenue to also consider other areas of concern, such as violence and gender equality in relation to mining communities.
Indian company STPL claim to have built the world’s first diamond-cutting robot. Called Robomatic, this AI-powered machine precisely positions the diamond before it is cut, a process which is still reliant upon human hands in the industry. This technology makes a judgement as to the optimal cutting position, cuts and then removes the stone for retrieval. Will this be the next automated step in diamond processing?
Belgium’s diamond exports grew in November, with the Antwerp World Diamond Centre’s figures showing that export prices rose 27%, to $2,476 per diamond carat. Belgium’s net diamond account for November (that’s the total export of rough and polished diamonds) increased from last year’s $96.2 million to $388.2 million. Get all the numbers here.
Diamond experts dispel common myths associated with the industry in a recent report. The biggest myth identified is about the pervasiveness of ‘blood diamonds’, or conflict diamonds – in actuality, 99.8% of the world’s diamonds are certified as conflict-free. Here at Hatton by Design, we pride ourselves on crafting diamonds that are guaranteed to be conflict-free.
More insights from the report include:
– Diamond mining is less harmful to the environment than other mining industries because there is little reliance upon chemicals.
– Mining groups often establish protected habitats in the areas surrounding mining operations. For example, the De Beers Group conserve five times the amount of nearby land compared to the area actually disturbed by their mining activities.
– Diamond mining is a highly automated process which dispels a lot of misconceptions about miners being at high-risk.
– Mines helps strengthen local communities, with mining companies only increasing their training and social spending.