The one-day, trade-only event, held at the L’Asiem event space in Paris on 9 September, focused on the diamond industry amidst serious headwinds and unprecedented change.
Didier Giard, president AFG, moderated the event. Prior to the Symposium, he said, “We will be taking a comprehensive look at diamonds. During a period of volatility and when the natural diamond industry is facing so many challenges, including from synthetics and an uncertain international market, we are delighted that such leading members of the diamond industry will be giving us informed considered views, backed by years of experience.”
Alan Bronstein, president of the Natural Color Diamond Association, Stéphane Fischler, president World Diamond Council, Martin Rapaport, chairman Rapaport and Aurélien Delaunay, director French Laboratory of Gemmology all took part in the event.
Representatives from De Beers, Alrosa, Dominion Diamond Mines in Canada and Petra Diamonds also gave presentations.
Rapaport, who addressed the challenges of synthetic diamonds, gave one of the most intriguing presentations on the schedule.
“Synthetic Diamonds are disrupting the fundamentals of the diamond industry,” Rapaport said in a statement. “Competition against expensive diamonds and brands will be limited as synthetic production skyrockets and prices plummet. The real issue is the long-term damage to consumer confidence and the unique position of natural diamonds as the ultimate symbol of emotional and financial security.
“Simply put, synthetic diamond producers are trying to steal the diamond dream. What should we do about it? How can we enhance the value of natural diamonds?” Rapaport added.
Meanwhile, Feriel Zerouki, De Beers’ senior vice-president of international relations and ethical initiatives addressed ethical sourcing and transparent supply chains.
He discussed the mining company’s GemFair project, which “aims to create a secure, transparent route to market for ethically-sourced artisanal and small-scale mined diamonds”. He added: “The overarching aim is to help foster the sector’s development as a credible and trusted source of diamond supply.”
Other topics covered included diamond mining in Canada, natural fancy colour diamonds and scientific, gemmological and historical aspects of diamonds.
More reading:
The diamond detectors: Searching for Truth
The White Diamond Report: Evolution and survival
Inside the fascinating world of natural colour diamonds