Skip to main content Navigation

Articles and News

Natural Diamond Council Busts Diamond Industry Myths with Facts June 18, 2024 (0 comments)


New York, NY--To address myths and misconceptions about the diamond industry, the Natural Diamond Council (NDC) conducted research to answer consumer questions and provide accurate information. Here are key findings from their report.

[Image via]

Natural vs. Laboratory-Grown Diamonds

Natural diamonds, formed 1-3 billion years ago from pure carbon, are the hardest naturally occurring substances. Although similar in appearance, laboratory-grown diamonds are man-made and can be mass-produced. They can be identified by specific growth patterns that are detectable with professional instruments.

Ethical Sourcing

The Kimberley Process, supported by the UN and WTO, ensures that all rough diamond trade is conflict-free. The Responsible Jewellery Council provides third-party certifications for responsible sourcing.

Sustainability of Lab-Grown Diamonds

Lab-grown diamonds require significant energy, with production often relying on coal-generated electricity, complicating sustainability claims.

Price Trends

The cost of a 1.5-carat lab-grown diamond dropped from $10,600 in 2016 to $2,445 in 2023, a 75% decrease. In contrast, natural diamonds have increased about 3% annually over the past 35 years.


Natural diamond recovery peaked in 2005 and has declined by over 30%. Annual recovery of diamonds 1-carat and above is minimal, highlighting their rarity.

Environmental Efforts

The natural diamond industry aims to reduce its carbon footprint, with De Beers targeting carbon neutrality by 2030 and Rio Tinto aiming for net zero emissions by 2050. The industry also protects biodiversity over areas larger than the land they use.

Economic Impact

The natural diamond industry supports 10 million livelihoods worldwide. Up to 80% of rough diamond value benefits local communities through employment, social programs, infrastructure investment, and taxes.

Purchasing Information

Retailers and jewelers must disclose if a diamond is lab-grown and use approved terminology.

Inventory and Pricing

The industry is not stockpiling diamonds to manipulate prices. Based on company data and the Kimberley Certification process, Bain & Company reported a 40% decline in global inventories in 2021.

Working Conditions

NDC members follow high global standards for working conditions, with 99.7% of employees hired locally and one-third of the workforce being women.


The industry is enhancing traceability through blockchain technology to ensure supply chain transparency.

For the full report, visit the Natural Diamond Council's website.

Share This:

Leave a Comment:

Human Check