Luxembourg - Saba:
De Beers has launched a device called DiamondProof to distinguish natural from lab-grown diamonds, to boost sales amid falling prices and fierce competition.
The device, available at retailers in the United States, detects the unique chemical compositions of natural diamonds. The launch is part of a broader effort by the diamond industry to bolster its position through marketing, pricing, and consumer education, especially after sales have slumped since the Covid pandemic, affecting producing countries like Botswana.
Amid these challenges, mining company Anglo American is planning to sell De Beers after decades of dominance in the diamond trade.
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