Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Botswana President dubs lab-grown stones as "microwave diamonds"

30 october 2023

Botswana President Mokgweetsi Masisi has expressed his dislike for lab-grown diamonds, which he described as “microwave diamonds”, according to diamond analyst Edahn Golan.

He said this at the FACETS Conference held in Gaborone, Botswana, last week, drawing laughter from the participants.

However, an observer said on X that “name calling seems to be the norm of the natural [diamond] industry; they just don’t understand yet; the more the name calling, the higher its relevancy”.

Botswana news agency BOPA quoted Masisi as saying that the prospect of lab-grown diamonds was still a concern.

"These man-made gems have rapidly gained ground in the market, posing both challenges and opportunities for the industry," Masisi said.

He said the crucial factor in preserving a flourishing market for natural diamonds lies in implementing efficient segmentation and marketing strategies.

Masisi said that segmentation categorises diamonds by origin, whether natural or lab-grown.

"It aims to preserve natural diamonds as a premium product that commands a significantly higher price per carat than lab-grown diamonds," he said.

“This differentiation is primarily driven by marketing strategies and the ability to appeal to distinct customer groups.”

Botswana is a leading natural diamond producer in volume terms after Russia.

The southern African country gets about 30% of its revenues and 70% of its foreign exchange earnings from diamonds.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished