In Antwerp, diamond industry body AWDC protested against the rise of synthetic diamonds through a creative campaign, unveiling a vending machine where passersby can purchase synthetic diamonds for €5.
The diamond industry has been facing challenges, and AWDC notes that just as it began recovering, US President Donald Trump introduced trade tariffs. Additionally, the industry is battling competition from synthetic diamonds primarily produced in China.
On Thursday in Antwerp, synthetic diamonds were the focus of AWDC’s campaign. AWDC emphasises the significant differences between natural and synthetic diamonds, stating that while they appear identical, there are fundamental distinctions.
The most significant difference lies in intrinsic value; synthetic diamonds have a low market price and tend to diminish in value over time. AWDC also highlights disparities in sustainability and the impact on communities where natural diamonds are mined.
Recently, it was revealed that mining company Anglo American is considering selling its diamond subsidiary, De Beers. While these plans have been discussed for some time, reports suggest the process is accelerating.
