Diamond News Archives

(IDEX Online) - Diamond Foundry aims to increase its production of lab-grown diamonds to 5 million carats a year.

The Silicon Valley start-up, which counts Leonardo DiCaprio among its high-profile backers, plans to open a second factory abroad as it ramps up production from 500,000 carats by next year.

The company, launched in 2012, has just received a new cash injection of $200m, taking its valuation to $1.8bn.

For context, an annual output of 5m carats would be a fifth of De Beers' mined diamond production for last year.

Martin Roscheisen, CEO of Diamond Foundry, has said previously that he believes lab-growns will overtake natural diamond sales - presumably by volume, not value - by 2030.

The company sells it lab-grown rough for an average of $282 per carat, which is higher than some, mined stones.

Roscheisen told the FT the market was "currently at its inflection point."

Pic courtesy Diamond Foundry...

(IDEX Online) - The Istanbul Jewelry Show (IJS) has been postponed for a fourth time because of the coronavirus pandemic.

It was originally scheduled to take place in March 2020, but has now been re-arranged for March 2022.

Organizers said in a statement that the safety and success of their colleagues, partners, customers, and exhibitors was their top priority, and the reason they had again postponed the event.

The IJS, established in 1986, describes itself as "one of the top five jewelry exhibitions in the world".

The event, at the CNR Expo, Istanbul Fair Center, was initially postponed to June 2020, then March 2021, and then May 2021.

Postponing the show again was "the right decision to achieve a more prosperous and accessible event, in consideration of the continuing restrictions on international travel," said organizers.

Pic shows a previous IJS show...