Diamonds with Overstated Certification a Big Problem

Mining Weekly reported that according to Ernie Blom, president of the World Federation of Diamond Bourses, “urgent action” is require to stop diamonds from being sold with overstated certification.

As quoted in the market news:

Blom, who blamed a few laboratories for damaging the reputation of the entire diamond industry, urged stakeholders the world over to stand together to eliminate what represented a serious challenge to the integrity of the diamond business.

‘Decisive and immediate action is required to eliminate this practice,’ he said of the aberration, which surfaced after diamond standards watchdog Rapaport excluded overstated laboratory-issued certificates.

Click here to read the full Mining Weekly report.