Why De Beers makes 'not for sale' diamonds
These diamonds help it make machines to distinguish synthetic stones from real gems
London
SCIENTISTS at De Beers can make near-flawless diamonds in a lab, but they will never sell you one. The 127-year-old mining company's Element Six unit, named for the carbon atom's rank on the periodic table, makes gems that are as perfect as any found at Tiffany & Co stores, yet their destination is a 1980s office complex on the edge of London. There, a team of 62 studies their creations and develops machines for diamond buyers trying to spot synthetic stones being peddled as the real thing.
While still a small part of the market, man-made diamonds are now being mass produced, and retailers such as Walmart Stores Inc sell them to customers seeking cheaper alternatives. But because the gems are almost indistinguishable from those naturally formed, some sellers have tried to pass off synthetic types as ones that have been mined.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue