WFDB hosts meeting on issue of undisclosed synthetic diamonds

World Federation of Diamond Bourses (WFDB) President Avi Paz convened a meeting on the issue of “undisclosed synthetic diamonds” in Las Vegas, on June 3.

The gathering was like a technical conference involving leading parties of the international diamond community: the World Federation of Diamond Bourses, the International Diamond Manufacturers Association (IDMA), DTC and leading diamond certification laboratories. The concluding observations of all participating members were:

-Diamond labs emphasized that they have the knowledge and technological means to distinguish between diamonds of natural origin and synthetic diamonds.

-It was agreed that all diamond grading labs would re-examine the terms that are signed by the diamond traders submitting their stones or parcels of stones for evaluation in a diamond grading lab. These terms should clearly state that all parties agree on the exact procedures to be followed in case a diamond or diamond parcel is submitted without full disclosure of its origin.

-WFDB, IDMA and the diamond laboratories labs confirmed their clear intention to join efforts in preserving the transparency in the diamond trade for the benefit of the global business, to ensure that consumers can receive full disclosure about the diamonds they purchase.

The meeting fits in with the federation’s determination that the diamond industry and the gemmological community develop a common strategy and a harmonised approach regarding the issue of synthetic diamonds.