Why lab-grown diamond success could end up helping natural diamonds - Paul Zimnisky
Declining profits for lab-grown diamonds could push retailers into a natural diamond pivot, said Paul Zimnisky, an independent diamond industry analyst.
Last week Zimnisky spoke to Kitco Mining.
The diamond market has been in a tough spot due to declining sales. In September Petra Diamonds reported full-year revenue declined 44%. In February Lucara Diamond announced full-year revenue was down 16%, adding that the diamond market is a "volatile environment with market challenges coming from multiple areas." Storied diamond company De Beers is being sold off by parent Anglo American, which is…
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