Will consumers see Russian-mined diamonds as “conflict diamonds”?

(jewelleryoutlook.com) - Concerns that Russian-mined diamonds may be seen as “conflict diamonds” in the minds of consumers, will become a big issue for the industry. Consumers could turn away from diamond jewellery if they do not know the origin of their diamonds and if they suspect diamonds may be contributing to financing warfare. If Russian diamond supplies to the global market are ultimately eroded, consequences may include higher prices of rough diamonds due to tighter supplies and a stronger market position for miners who can provenance other than Russian origin. We could eventually see the beginning of differentiation in the value of rough diamonds depending on their origin. This could evolve into premiums for values of rough diamonds from producing areas where miners support local communities, impacting also on consumer prices of finished diamond jewellery.