In 2022, Canada was the third-largest producer of diamonds in the world, according to GlobalData. And our country looks set to maintain its bronze medal position within the global diamond industry this year.
You may know that Canadaโs diamonds often have a higher value than those of other countries. But do you know why this is the case? Letโs explore some of the top reasons.
Superior Quality
The quality of Canadian diamonds is one of the main reasons they are more valuable.
This superior quality results from Canadaโs geologic formation process which allows diamonds to form with minimal impurities. The process creates brilliant gems that are almost perfect, making them highly desirable.
Ethical Sourcing
A second factor in their higher value lies in ethical sourcing.
Canada enforces strict regulations on diamond mining that respect both human rights and environmental standards. There are no child labour or conflict violations associated with Canadian diamonds as there are in some places.
Incidentally, if youโre interested in things like ethical sourcing, and you like to travel, you might like to learn about eco-friendly tourism.
Traceability
With a highly secure tracking system in place, every Canadian diamond can be traced back to its original mine.
For diamond buyers, knowing the exact origin is crucial. It confirms its ethical source and guarantees its authenticity.
In turn, traceability leads to a higher market value.
Sustainability
Canadaโs proactive approach towards sustainability further adds to the value and appeal of Canadian diamonds.
The diamond mining industry prioritizes minimizing environmental impact through careful planning and management.
More and more consumers prefer responsibly sourced products, including diamonds, which drives up the value of Canadian stones.
The Kimberley Process
Canada is a participant in the Kimberley Process, which is an international certification scheme to prevent conflict diamonds from entering the mainstream market.
This adherence ensures that Canadian diamonds are conflict-free and increases their global appeal and, therefore, their value.
Craftsmanship
Lastly, the craftsmanship involved in cutting and polishing diamonds in Canada is industry-leading.
Canadian diamonds are carefully cut by experts to maximize brilliance and spark. Seeing as the diamondsโ aesthetic appeal is enhanced, their value increases.
The Rise of Lab-Grown Diamonds
While authentic diamonds are still a popular choice among many, more and more people are buying lab-grown diamond jewellery instead.
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This trend isnโt specific to any geography, as youโll find these lab-created gems not only in Canada but also around the world.
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Lab-grown diamonds have been gaining increased attention due to their distinguishable qualities and affordable price. They cost considerably less than naturally mined diamonds, making them an attractive alternative for people on tight budgets.
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That doesnโt mean that lab-grown diamonds compromise on style or charm, however. These synthetically grown stones can perfectly mimic the brilliance and fire of a natural diamond so you can still flaunt dazzling accessory pieces without breaking the bank.
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You can also find a variety of distinctive jewellery pieces. For instance, you could get a unique womanโs lab-diamond ring or a pair of stylish lab-grown diamond earrings.
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While Canadian-mined diamonds might be top-tier when it comes to prestige and value, opting for a beautiful piece of jewellery made from lab-grown diamonds is a smart choice for conscious consumers looking to shine without hurting their pockets.
Final Thoughts
As we have seen, multiple factors contribute to why Canadian diamonds have a higher value than many from other countries.
From supreme quality and craftsmanship to ethical sourcing standards and sustainability, Canadaโs diamond industry stands as an emblem of excellence and its gems are sure to remain highly desirable, and valuable, for years to come.
Canadian diamonds are truly a superior choice in the global gemstone market.
Last Updated on by soubhik
