JOHANNESBURG (miningweekly.com) – The new International Organisation for Standardisation (ISO) standard setting out the classification and providing clarity on the terms when buying and selling diamonds, treated diamonds and synthetic diamonds has been welcomed by industry bodies.
ISO International Standard 18323: 2015 Jewellery - Consumer Confidence in the Diamond Industry outlined a series of definitions to provide further clarity for traders and consumers, while defining a diamond as a natural resource.
The World Federation of Diamond Bourses (WFDB) and the World Jewellery Confederation (Cibjo) both welcomed the move, with WFDB president Ernie Blom noting that the standard addressed the need for integrity and transparency in the industry to ensure that consumers had “total confidence” in diamond products.
“Buyers do not usually have the technical knowledge to understand the many aspects of diamonds and so they are reliant on correct and honest labelling,” he said, noting that the standard specified a set of permitted descriptors for the diamond industry and was specifically designed to be understood by the consumer.
“The ISO standard sets out descriptions for synthetic diamonds plainly and precisely,” he said.
“A major concern held by the diamond industry is that without clear and accurate labelling, the increased availability of synthetic diamonds to consumers can cause confusion over exactly what type of product is being sold to them,” the ISO document highlighted.
Blom said this emerged as lab-grown diamonds increasingly hosted the same chemical and physical properties as natural, mined diamonds.
“We have long pointed out the importance of consumers knowing exactly what type of diamond is being offered to them and this new standard confirms this,” he assured.
Meanwhile, the WFDB appointed former De Beers senior executive Louise Prior as executive director, effective August 1.