Pandora, one of the world’s largest jewelry manufacturers, has announced that it has stopped selling jewelry based on naturally mined diamonds. They will be replaced with artificial stones specially grown in the laboratory.
The Danish company announced this on social networks. The first facility for the production of artificially created diamonds will open in the UK. Jewelry from them will be sold at a price of £ 250 ($ 350).
The company noted that recently consumers have become more concerned about the state of the environment, which is why the market for jewelry made with artificial diamonds is growing “at an outstripping pace.”
“We want to expand the market by making diamonds a part of everyday life so that people can give themselves such gifts more often. Of course, we hope that companies that sell jewelry made from natural diamonds will have to move, ”said Pandora CEO Alexander Lachik.
The company assured that laboratory stones look no worse than their natural counterparts and are not inferior to them in physical and chemical properties. The manufacturer wants to achieve the natural quality of diamonds that will cost less.
“We want to be a business with a minimal carbon footprint. I have four children, and when I die, I want to leave the planet in a better condition than the one in which it is now, largely due to the actions of humanity, ”says Lanchik.
Production and environmental friendliness
At the same time, the consulting company Bain & Company noticed that buyers are more likely to choose laboratory diamonds for more than environmental reasons. They are much more attracted by low prices and jewelry design.
In 2020, amid the coronavirus pandemic, natural diamond production fell to 111 million carats in 2020, according to the Antwerp World Diamond Center (AWDC). For comparison, three years earlier the figure was 152 million carats. Producers in Russia, Canada, Botswana and Australia were hit hardest. In particular, the international corporation De Beers, which produces about 20% of the world’s natural diamonds, noted a decline in production by 18%.
At the same time, the production of artificially created diamonds is growing, in 2020 it amounted to 6.5 million carats. It takes a lot of energy to produce them. About 50% of laboratory diamonds are produced in China using high pressure and high temperature technology. Electricity for their production is obtained from coal, which leads to environmental pollution.
The largest lab-grown diamond manufacturer in the United States, Diamond Foundry, insists its process is “100% hydropower.”
In mid-2020, Pandora announced that it would use only recycled silver and gold in its jewelry from 2025 instead of mined metals. Thus, the jewelry chain intends to reduce harmful emissions into the atmosphere by 65–99%.