As the cost of living crunch hits, a new kind of diamond is rising and their genesis could not be more different. 9News
Carbon is blasted with intense heat and pressure and the gems are extracted from the rough, polished and faceted.The industry is exploding in popularity and set to be worth close to $35 billion within the next few years.The industry is exploding in popularity and set to be worth close to $35 billion within the next few years.
The jewels are also winning over millennials thanks to a marketing push which claims they're an ethical and more environmentally sustainable option. "It's been described as the wild west, the lab-grown diamond industry, it's really risen very fast," she says.If Moi Moi Fine Jewellery is at the forefront of factory diamonds, Cushla Whiting is deeply steeped in tradition.
"The social and economic benefit that naturally mined diamond industry brings into the countries where diamonds are mined is huge," she says."If that was taken away it would be very detrimental to those communities.""I think the carbon footprint is said to be about three times that of natural diamonds with the mainstream technology at the moment."
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