Israel Diamond Exchange (IDE) President Yoram Dvash has expressed his concerns regarding a GIA report that more large HPHT synthetic diamonds are likely to enter the jewelry industry in the coming years.
The GIA describes rapid progress in recent years in High-Pressure, High-Temperature (HPHT) technology being used to produce melee-size diamonds around 2–3 mm in diameter and large colorless single crystals, all with significantly improved quality and growth rate.
A Russian company is reportedly growing many large, gem-quality, colorless diamond crystals in a single run, while large diamond crystals are also being manufactured by a Chinese company using a similar technology, the GIA said.
"There is no doubt that these developments are a concern," Dvash said. "We know the technology for creating these stones is improving all the time and with it the volume of production. There are more such stones entering the market and, with technological abilities becoming so sophisticated, it is becoming increasingly difficult to identify them.”
"The main fear is that they might be set, undisclosed, in jewelry as this could cause great damage to consumer confidence where buyers believe they are being sold jewelry set with natural, mined, diamonds. I am sure this issue will be on the agenda of the World Federation of Diamond Bourses at the World Diamond Congress in Dubai in May as it is posing a growing threat to our industry," continues Dvash.