The Strategist

De Beers refuses plans to sell engagement rings with synthetic diamonds

09/14/2023 - 03:21

The group revealed plans to introduce engagement rings with lab-grown synthetic diamonds in 2018.

De Beers Group's intended launch of lab-grown synthetic diamond engagement rings has been shelved, said the one of the biggest producers of natural diamonds in the world.

According to market studies, there is an unsustainable demand for synthetic diamonds, according to a statement by De Beers, as reported by the South African media outlet SABC. De Beers announced plans to create engagement rings using lab-grown synthetic diamonds in 2018. They have currently been forgotten.

De Beers is owned and controlled by Anglo American, a multinational mining company.