Introduction      

           Diamonds, often deemed as the most precious stone on Earth, are formed from solid, crystalline forms of carbon, made deep under the earth’s mantle, before being brought to the surface through volcanic eruptions. Diamonds serve a dual process from its industrial benefits centered on polishing and cutting material due to its durability, and its luxury purposes such as crafting fine jewelry and other ornaments. While widely sought after for its rarity and beauty, the means of cultivating these precious stones is often far less pure than the gem itself. The complex paradox of the Diamond industry is a captivating one, balancing both the economic benefits and cultural aspects with a prolonged history of human rights violation and the contemporary task of challenging synthetic alternatives. 

Background      

            Diamonds have had a long history. The world’s love of diamonds started in India, where diamonds were gathered from the rivers and streams. Historians estimate that India was trading diamonds as early as the fourth century BC (Shigley 2019). The country’s resources yielded limited amount for an equally limited market, this did eventually change as the caravans traveled to Venice’s medieval markets. By the 1400’s, diamonds became a fashionable piece for Europe’s most elite and wealthiest. That, however, was not the only use for diamonds; many would cut and engrave on said material and used them as talismans to ward off evil and provide protection. 

Key Events      

          The late 1800s South African Diamond Rush led to the discovery of the Kimberley pipe, educing a massive influx of prospectors to the region, and ultimately resulting in the consolidation of diamonds mining by Cecil Rhodes’s De Beers Consolidated Mines in 1888. To control the increasing diamond supply, De Beers formed a cartel with distributors to limit production and artificially inflate prices. “A diamond is forever” behind this phrase stands De Beers, they didn’t just sell gems; it created one of the most important campaigns in history. By the 1930s, diamonds were extremely common; De Beers had access to a vast supply but needed a way to ensure that the stones would fetch high prices. They created a plan that they needed to equate diamonds with love and eternity, coming up with the rule that men should spend at least one month’s salary on an engagement ring to truly show their commitment. This would bring in money without actually specifying a dollar amount, tying it to each person’s individual earnings.

The Blood Diamond Conflict      

         The Diamond Industry is no stranger to the concept of human rights abuse and often loses its sense of ethics and morals. This has led to the development of the term “Blood Diamonds” or “Conflict Diamonds” which bore from the unethical practice of using these stones to finance conflicts against governments. The trade of these diamonds has fueled brutal civil wars and severe human rights abuses in several African nations. Rebel groups have systematically used diamond profits to purchase weapons, continuing cycles of violence and instability within communities. The extraction process itself often involves horrific practices like forced labor and the mutilation of civilians. To combat this issue, what is known as “The Kimberly Process” was implemented in 2003 to prevent the trade of these conflict diamonds. Today, traders must certify that diamond shipments are free from conflict diamonds to before they may practice their trade.

Modern Market Trends and Synthetic Diamonds      

           According to the U.S. Global Diamond Market, lab grown diamonds have gained popularity because it can be sourced ethically, costed less to produce, and exerted less harm towards the environment. The lab grown diamond market was valued at 14.2 billion USD in 2023 and is expected to grow to 29.3 billion USD by 2033 (Pangarkar 2025). While preserving the same quality and durability as an authentic diamond, these synthetic stones avoid the common issues faced with traditional mining: human right’s abuse, unsustainable mining processes, and inaccessibility due to high costs. This practice makes diamonds accessible to wider population by generating significantly lower and more affordability prices in a moral manner. Consumers should be encouraged to check beforehand that they are purchasing diamonds from ethically sourced businesses or even consider acquiring their precious stones from a lab grown diamond market.

Conclusion      

           Diamonds have a complex history, starting in ancient India before medieval European demand and the south African diamond rush in the late 1800s led to cartel systems to manage supply and inflate prices through marketing campaigns like engagement rings. The industry faces many ethical challenges related to the “blood diamond” trade. However, with the recent cultivation of modern lab grown diamonds, which is chemically related but often more affordable, the diamond industry is beginning to flip to a new chapter. Consumers play a crucial role by considering the origins of diamonds and looking for the lab-grown alternative to address these ethical complexities.

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Bibliography:

A Review of the Political and Economic Forces Shaping Today’s Diamond Industry | Gems & Gemology. Www.gia.edu, www.gia.edu/gems-gemology/fall-2005-political-economic-forces-diamond-shor. 

 

Armstrong, Paul. What Are “Conflict Diamonds?" CNN, 5 Dec. 2011, edition.cnn.com/2011/12/05/world/africa/conflict-diamonds-explainer. 

 

Uses of Diamonds - Mining for Schools. Miningforschools.co.za, 2022, miningforschools.co.za/lets-explore/diamond/uses-of-diamonds.

    https://www.capetowndiamondmuseum.org/about-diamonds/south-african-diamond-history/

 

GIA. Diamond History and Lore. Gia.edu, 2019, www.gia.edu/diamond-history-lore.

               

Shigley, Dr. J. (2019, June 6). Historical reading list: Diamonds in ancient India. Gemological Institute Of America. https://www.gia.edu/diamonds-ancient-india-reading-list

 

Green, Will. The Sparkling Deception: How de Beers Convinced the World to Spend a Fortune on Engagement Rings. Marketing Made Clear, Oct. 2024, marketingmadeclear.com/de-beers/.

 

Pangarkar, T. (2025, May 7). Lab grown diamonds market to hit USD 29.3 bn by 2033. Market.us News. https://www.news.market.us/lab-grown-diamonds-market-news/

 

Popova, Anastasia. The History of Diamond Traceability. Www.minespider.com, 22 Feb. 2024, https://www.minespider.com/blog/diamonds-supply-chain-from-diamonds-discovery-to-g7-rules

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 Kimberley Process: Ensuring Conflict-free diamonds worldwide. Kimberley Process | Ensuring Conflict-Free Diamonds Worldwide. (n.d.). https://www.kimberleyprocess.com/