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The widespread shortage of mined diamonds has led to the rise in popularity of grown diamonds, whose growth is being supplemented by technology and research, stated a report by Frost & Sullivan
Supply of mined diamonds has witnessed a constant decline in the past decade, with key diamond mines having passed their peak production levels being a major reason. In addition, newer mines have shorter life spans and tougher mining conditions, stated the report.
To solve the growing shortage, grown diamonds could be a potential solution. Technology has made possible the production of rare quality colourless Ila quality diamonds, by creating conditions conducive to their growth in semi-conductor grade facilities above the earth’s surface.
The report has predicated that grown diamonds will become a dominant player in high technology applications and can also be a significant source of the stone for the luxury sector.
In addition, they could also offer skilled opportunities for employment especially for engineers, graduates, researchers, scientists, manufacturers, instrumentation purposes and semi-conductors.