Petra Diamonds says the supply of lab-grown and natural diamonds is expected to vary significantly in the coming years, with the former having the potential to become a significant part of the total global diamond supply.
It said in an update that factors strengthening lab-grown supply include production scaling by current producers, new producers, and breakthroughs in production technology that are improving yields and lowering production costs.
“Lab-grown demand is being driven by the lower relative pricing point as larger lab-grown diamonds are being sold at the same price as smaller natural diamonds,” said Petra.
The miner also said that lab-grown diamonds have continued to diverge into a separate, more affordable jewellery category
Meanwhile, Petra Diamonds said that the supply of natural diamonds is expected to remain relatively stable in the near term.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
