Botswana has emerged victorious after successfully lodging a complaint against a proposed universal diamond grading system that would have put synthetic and natural diamonds on a level playing field, thus making it hard for consumers to distinguish the products
BONGANI MALUNGA
Botswana has scored an important win in the fight against lab-grown diamonds after successfully lobbying against a proposal to adopt a universal grading for synthetic and natural diamonds.
According to the Minister of Minerals and Energy, Bogolo Kenewendo, the Gemological Institute of America (GIA) has officially reversed initial plans to impose a universal diamond grading system for lab-grown and natural stones in the diamond sector.
The grading would have put synthetic and natural diamonds on a level playing field in terms of grading.
Different trading codes
This would have presented a problem for Botswana’s marketing strategy as the differentiation process of a lab-grown and natural diamonds would have been difficult under a universal identification system.
Speaking at the Jewellers Circular Keystone (JCK) Trade Show in Las Vegas, USA last week, Kenewendo told journalists that Botswana has succeeded in ensuring that trading codes and grading for natural and synthetic diamonds are different.
Differentiating synthetics and natural stones will ensure that the 4Cs (Cut, Carat, Colour and Clarity) only apply to natural diamonds. “This is an important step,” said the President.
Carats for gems, grams for synthetics
“It will enable a customer to know that if they want a carat in a diamond, they can only access that in natural diamonds. Grams are found in synthetics.
“I have never heard a buyer saying they (bought) a diamond based on grams. Carats are a trademark and a source of pride in having natural diamonds.”
To further demonstrate Botswana’s stance against synthetics, Kenewendo revealed that the Botswana Government was instrumental in the closure of De Beers’ synthetic diamonds line, LightBox.
Ultimatum
She stated that the government gave De Beers an ultimatum of closing up their synthetic diamonds project or risk seeing a new deal collapse during contract negotiations.
“One of the conditions we set for De Beers in February before signing our deal was for them to close the synthetic diamonds line,” she said. “During negotiations, we explained that we strongly oppose the existence of LightBox.
“We gave them an ultimatum. They had to end the project or we wouldn’t proceed with the deal. They recently announced the closure of LightBox. They will move their innovation into areas of computing, semi-conductors and other products.”