The diamond industry has been changing over the last few years with billions of dollars being poured into the attempts to produce lab created diamonds that are almost impossible to identify from their ground-grown cousins. For many in the industry, the use of lab-grown options has made a big difference as it has allowed more people to afford a diamond. It is also allowing buyers concerned about the environmental problems facing the industry to feel better about their choices.
What do we mean by Lab-Grown?
Lab created diamonds differ from their natural family members because they can be grown in just a few days to an average of three months. The majority of diamonds forming naturally were created billions of years ago when the Earth was hotter and the pressure on the ground was far higher to create the perfect conditions for forming a diamond. These conditions mean there are only a certain number of diamonds that can be mined driving up the prices of these precious jewels. Instead, a diamond grown in a lab can be made from a single sliver of an existing diamond with machines used to produce extreme heat and pressure, according to the BBC.
Lowering the Carbon Footprint of a Diamond
A diamond that is created in a natural environment can have a large carbon footprint, but those that are created in a lab can have a smaller footprint because there is less damage done to the natural world. Although a large amount of power is used to create each lab-grown diamond, the use of mining can have many negative effects on the environment far beyond those linked solely to mining. The vast amounts of water used for mined diamonds can hurt the local environment and lead to lower fish stocks and less drinking water.
Lowering the Cost for the General Public
When a diamond is mined the buyer is not only paying for the labor and production costs of the diamond but also its rarity. In many ways, the use of a lab to create diamonds is assisting with the mass-production of these precious stones. In the long-term, lab-created diamonds are expected to fall in value as the number of stones on the market increases to allow more people to enjoy owning a diamond. The Washington Post reports many individuals will look into buying a diamond who may not have thought they could afford to buy a precious stone in the past. This is positive for the general public who will see the overall cost of buying a lab-grown diamond fall even further in the coming years to place them within reach of the majority of people.
