The recently released ISO International Standard 18323:Jewellery - Consumer confidence in the diamond industry received appreciation by the World Federation of Diamond Bourses (WFDB). WFDB President President Ernie Blom urged diamond industry members to view information regarding the new ISO standard, reports say.
The standard has stipulated definitions for diamonds. The WFDB was involved in formulating the series of definitions to bring more clarity to traders and sustain consumer confidence in the diamond industry as a whole, according to Blom, as per reports.
The ISO ruling defines a diamond as something “created by nature"; and "the denomination 'diamond" without further specification always implies a "natural diamond", as per reports. The ISO would help consumers identify the type of diamond they are purchasing, whether natural or synthetic. It has outlined descriptions for synthetic diamonds. It notes the growth in production in recent years, and the characteristics of lab-grown diamonds having same chemical and physical (including optical) properties as naturally mined diamonds.
The creation of the ISO began in Europe seven years ago and involved WFDB and industry stakeholders, with Chairman of the Technical Committee that oversaw the formulation being Harry Levy, President of the London Diamond Bourse. It reflects issues identified by WFDB including integrity and transparency to enhance consumer confidence in diamonds as they depend much on honest labelling of the diamonds.