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If they're successful, the people who run the dirt-diamond industry may end up bankrupt and digging for scraps of food on the streets. I really can't see a dow

by billpg 10y ago

If they're successful, the people who run the dirt-diamond industry may end up bankrupt and digging for scraps of food on the streets. I really can't see a down-side.

LoSboccacc 10y ago
Na I expect either the industry will get into the hip of 'organic' diamond (they already used impurities giving a more nuanced color as differentiator) or will just expand laws to prevent sales of synths as jewlery. They already lobbyed the laws once after all and they aren't shorter on cash this time around so..
- kefka 10y ago
  "Certified Blood-Diamond free" "Cruelty-free"
  - jonathankoren 10y ago
    The Kimberly Process[0] from what I understand is pretty much bullshit. It purports to certify diamonds as being "conflict free", but there a numerous loopholes and laundering the source of the diamonds is trivial. That's why the diamond I bought came from Canada. [0] https://en.m.wikipedia.org/wiki/Kimberley_Process_Certification_Scheme https://en.m.wikipedia.org/wiki/Kimberley_Process_Certificat...
  - jonathankoren 10y ago
    The Kimberly Process[0] from what I understand is pretty much bullshit. It purports to certify diamonds as being "conflict free", but there a numerous loopholes and laundering the source of the diamonds is trivial. That's why the diamond I bought came from Canada. [0] https://en.m.wikipedia.org/wiki/Kimberley_Process_Certification_Scheme https://en.m.wikipedia.org/wiki/Kimberley_Process_Certificat...
deleted 10y ago
[deleted]
henrikschroder 10y ago
Holy crap they're scared though, and with the amount of money they have, it can get ugly. :-/
- joecool1029 10y ago
  I worked with PGD for a bit. They are concerned about usual threats that any jeweler/producer would have. But their (former) CEO also said to me that De Beers already has synthetic facilities and will likely pivot over to where IIa is in a few years. They just got the jump and are taking advantage of it. Diamond mine days are numbered.
prodmerc 10y ago
Really? They'll just pander to the rich. Luxury brands did not end up bankrupt because cheaper and just as good or even better alternatives came to the market.
- Hondor 10y ago
  As long as there's a way to verify they're really natural. The article mentions synthetic diamonds getting certified and sold as natural ones. Once they become indistinguishable, how could anyone trust a luxury brand to really be what they say? Any shady trader in Africa could have contaminated the supply just as they already do with the Kimberly process. That's what's most exciting. Maybe natural diamonds will lose all their value because nobody will be able to know if they've even got one or not.
buyx 10y ago
The population of Botswana would be bankrupt and digging for scraps of food (there is a customs union with South Africa, but beyond that, the economy doesn't seem particularly diversified).

by billpg 10y ago

If they're successful, the people who run the dirt-diamond industry may end up bankrupt and digging for scraps of food on the streets. I really can't see a down-side.

LoSboccacc 10y ago

Na I expect either the industry will get into the hip of 'organic' diamond (they already used impurities giving a more nuanced color as differentiator) or will just expand laws to prevent sales of synths as jewlery. They already lobbyed the laws once after all and they aren't shorter on cash this time around so..

kefka 10y ago
"Certified Blood-Diamond free" "Cruelty-free"
- jonathankoren 10y ago
  The Kimberly Process[0] from what I understand is pretty much bullshit. It purports to certify diamonds as being "conflict free", but there a numerous loopholes and laundering the source of the diamonds is trivial. That's why the diamond I bought came from Canada. [0] https://en.m.wikipedia.org/wiki/Kimberley_Process_Certification_Scheme https://en.m.wikipedia.org/wiki/Kimberley_Process_Certificat...
- jonathankoren 10y ago
  The Kimberly Process[0] from what I understand is pretty much bullshit. It purports to certify diamonds as being "conflict free", but there a numerous loopholes and laundering the source of the diamonds is trivial. That's why the diamond I bought came from Canada. [0] https://en.m.wikipedia.org/wiki/Kimberley_Process_Certification_Scheme https://en.m.wikipedia.org/wiki/Kimberley_Process_Certificat...

deleted 10y ago

[deleted]

henrikschroder 10y ago

Holy crap they're scared though, and with the amount of money they have, it can get ugly. :-/

joecool1029 10y ago
I worked with PGD for a bit. They are concerned about usual threats that any jeweler/producer would have. But their (former) CEO also said to me that De Beers already has synthetic facilities and will likely pivot over to where IIa is in a few years. They just got the jump and are taking advantage of it. Diamond mine days are numbered.

prodmerc 10y ago

Really? They'll just pander to the rich. Luxury brands did not end up bankrupt because cheaper and just as good or even better alternatives came to the market.

Hondor 10y ago
As long as there's a way to verify they're really natural. The article mentions synthetic diamonds getting certified and sold as natural ones. Once they become indistinguishable, how could anyone trust a luxury brand to really be what they say? Any shady trader in Africa could have contaminated the supply just as they already do with the Kimberly process. That's what's most exciting. Maybe natural diamonds will lose all their value because nobody will be able to know if they've even got one or not.

buyx 10y ago

The population of Botswana would be bankrupt and digging for scraps of food (there is a customs union with South Africa, but beyond that, the economy doesn't seem particularly diversified).