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The Guardian - AU
The Guardian - AU
National
Jonathan Barrett Senior business reporter

Mined diamonds are a waste of money, an expert says. Here’s why

Natural diamonds in Australia. The diamond market in Australia is dramatically shifting away from mined diamonds to lab-grown ones.
Natural diamonds in Australia. The diamond market in Australia is dramatically shifting away from mined diamonds to lab-grown ones. Photograph: Natural Diamond Council

When Steve Richards, a gemologist trained to identify grades of precious jewels, was considering a Christmas present for his wife, he settled on a pair of diamond earrings.

These diamonds, however, were not formed deep in the Earth over millions or billions of years and brought to the surface through volcanic eruptions. They were grown in a lab over a matter of weeks and bought for a fraction of the price.

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