to be earth, the russian producer, al rosa, and diversified mining companies. b. h. p, and rio tinto. large, commercially viable diamond mines are a rarity. and today, there are only about 20 major diamond mines in the world, and only 11 of them make up 62 percent of the world's production by carrot and no matter how big the mine is, you have to move a lot of rock to get a very small number of diamonds and even the riches mine, one ton of rock contains only about 1.4 carrots of rock diamonds. now that's less than point 3 grams. on average a producer cells rough diamonds for $134.00, a carrot, giving it a profit margin of 20 to 24 percent. the minor then has to sort and sell them as to re gray, diamonds or industrial grade diamonds, cutters and polishes or next who by rough diamonds, from the producers, and cut them appropriately and polish them to release their true potential. the

majority of cutting and polishing is now done in india, followed by china because of low labor costs. jewelry manufacturers then by the polish stones, usually exhibitions, create the piece, sets of stones and give them to retailers to sell finished jewelry to customers, manufacturers and retailers, depending on the prestige or the brand can enjoy a premium profit margin of up to 40 percent. but now, man main diamonds are growing in popularity to the average person. these gems are indistinguishable from traditionally mind diamonds. and these lab grown diamonds or l g g 's are less expensive and considered an environmentally friendly alternative to mining. they take weeks to create implies, or reactors and have been recognized as quote, diamonds by the u. s. federal trade commission since 2018. so one more or less bring in eating goal on diamond industry analyst at diamond research and data. so

how have the attitudes towards lab created, diamond or ellis gds shifted and recent years it seems to be gaining traction with the market expected double by $6000000000.00 by 2025. interesting boise. so i haven't been around for a good number of years and have entered the retail market place as components in jewelry around 2000 the 16 by 2018. they were really. ready already a thing, and at that point they were, if you look at the old diamonds, that is natural, diamonds and lab programs together. lab going to the time are presented about 2 percent of the business to $1.00 to $2.00 depending really how you measure it.

we know that that figure has increased, then it doubled almost every year. and it currently stands at around 10 percent. so. ready in terms of value, there's definitely a doubling almost every year. i don't know if we'll reach 6000000000, but there's no doubt that this is a, an item of growing interest in the consumer market. and, and we're seeing it growing rapidly at this point. while allergies are trying to position themselves as more ethical compared with the traditional history of dining mining? are they really when it takes so much energy to produce them and most of them are made in china? woo, there isn't one answer to this question. in other words, since it's an industry, some companies are ethical in defense of labor

conditions impact on the environment, et cetera. that can not be fit for all companies. there are a number of companies out in china that have facing a lot of criticism. some of that has to do with their energy use and interviews that is not clean. there is a lot of criticism about working conditions in some of these places. so in general, i think we need to, to break this down 1st as to do. ready with is it ethical in the sense that it is environmentally friendly and the other is ethical in terms of it harming anyone? in most cases we see that both the ethical side and,

and environmental side kind of go hand in hand and and compared to, to the majority of natural look at natural diamonds in mining. their human conditions are by and large, fantastic workers are unionized in the largest companies. all of the large companies are, are public companies. so they're facing serious with me. if they do not meet standards, they are reporting on their own ethical and environmental impacts. and those are audited so, so, so in that regard, i wouldn't say vance lab grown diamonds are, by definition more ethical than, than natural. and the elegy, the industry claims that its objective is to democratize a diamond industries so that it is more affordable to all. but by doing that,

isn't it inherently killing off the diamond industry and taking away the allure of what makes diamonds so valuable and coveted? so the issue of valley was an interesting one. so 1st of all, the issue of, let's start with the marketing diamond. democratizing guy is really started with the beers in the 940 a very accurately this the that in the. ready post. ready war 2 era, we're looking primarily the united states, enjoying the boom and the growth in the middle class. and that's where dime is wherever the slogan and marketing campaign really been supp until that point. diamonds were really something that you saw primarily available to the very rich royalties to hollywood stars. but the

average joe. ready didn't have an opportunity or the financial ability to buy them forever. was campaign to say, look, let's make sure that everybody has an opportunity and a desire to buy a diamond. so there we go. what we're seeing is really that, that the market, the democratization of diamonds began 80 years ago. so that's one another and. ready so there's issue of what is the value today? and there is a debate. so one of the tenants of a luxury item is that it's not available to everybody. and, and it is pricey. so it's the economic aspect of it makes it less available as well as them amount and quantity in the market. and in that regard, if, if we see diamonds being sold for $200.00,

you know, everybody can afford them. it right is the wrong social which and i think everybody should have access to something. they see that a is beautiful and b makes him feel good. i think the biggest value of a diamond ring, for example, is how does it make you feel? does it make you feel that when your gifted good and, and that, that made somebody happy? if you're the person being gifted, does it remain a strong and positive memory? does it make you happy? the answers are yes. if you look at a diamond, you'd say, wow, i'm so happy i have it. if you have a great item and, and that makes it valuable. and at the end of the day, i think that's the most important thing. there's no doubt that the fact that i them will and will have a sort of a bifurcation diamonds in the diamonds. we will have diamonds that are high price

and as such luxury items. and we expect to see that primarily happening with natural diamonds of other how we're going to have something that is mass produced easily accessible. the cost of manufacturing is and growing in will reduce over time, making it more. ready accessible and as such, i don't expect it to be a luxury item as much as it will be, a fashion item available to everybody. mangan, sel might even go on fire insights. and when we come back, we'll discuss the real environmental casa jans. and what is the price countries are willing to pay to get a hold of passion, don't go away for a

ah, at the end of the 18th century, great britain began to conquer and colonize australia. from the very beginning of the british penetration to the continent, natives were subjected to severe violence and deliberate extra patient. according to modern historians. in the 1st 140 years, there were at least 270 massacres of local b. both any resistance to the british was answered with doubled cruelty. hundreds of natives were killed for the murder of one settler. indigenous australians were not considered complete people. no wild beast of the forest was ever hunted down with such unsparing perseverance as they are. men, women,

and children are shot whenever they can be met with squatter. henry myrick wrote in a letter to his family in england, in 1846. australia's past is rightly described as blood soaked and races. if at the beginning of colonization, there were one and a half 1000000 indigenous people living on the continent, then by the beginning of the 20th century, their number had decreased del 100000 people. despite the indisputable historical facts. the problem of full recognition of the crimes of white australians against the aborigines has not been resolved so far. ah, ah, ah louisa come to russian

state full narrative as time goes on in the northland scheme divest to him, then the king. all sons and 50000 speedy, one else go up and we will bend in the european union, the kremlin machine, the state owned russia today and archie full back, given our video agency, roughly all fan to on youtube, this is what she did receive a request for the the the welcome back. it's not does diamonds that fascinate

color gemstones have had a resurgence of interest in recent years. for example, the duchess of cambridge is soft bar engagement rang megan marshall's aqua marine ring. and princess eugene coral, pep, russia, and moore. this has led the sector towards a double digit growth with record prices for emeralds and rubies that surpassed the price of diamonds on a per carrot and basis. but all that growth comes with a price which is unfortunately the environment. pounds in world south africa like niggers, fontaine were destroyed when the damn bill to hold back. the waste from mining crumbled, sending grace slash throughout the community. the waste from mining, known as tail, is, is becoming a major problem as poor community are saddled with toxic waste. once all the gems are extracted, a similar dam collapsed in brazil years ago, killing more than 250 people. unfortunately,

these mines are often in rural areas where operators lack the resources and expertise to manage tailing dams, and often skim in order to save on operational costs. money also was building tunnels and pits which opens room for soil erosion lose. sediments will continue accumulating in the nearby bodies of waters and the land itself will become unfit for agricultural purposes, further promoting deforestation. so now knowing the true costs of these, jen, is it still worth it? let's bring in eating gall and diamond industry analyst at diamond research and data for more. so even people today are increasingly looking to precious metals in color, gemstones as safe assets. what do you make of that, and how do these precious gems such as sapphires, rubies, and emeralds compared to a diamond as an investment asset? and so, as an investment, there's a, there's a big debate about diamonds are

a investment worth the item. and, and here to, we're seeing that we're looking at a and not let me restate that. which diamonds were saying that not old diamonds are investments where the diamonds there are some that are very much so. so diamonds that have the top top color, top clarity, perfect, polishing, and in sizes that are very rare. so 5 carrots and above the flow. liz, what is called a triple excellent. 5 carry diamond is rear and the and as they get bigger and remain those other characteristics they become more and more less. ready available in the market and as such, where we see that usually at times of crisis, their prices tend to rise. and, and we're looking about

a time of crisis. we're talking 9 live in 2000 a coven, endemic and those kind of times we see that usually many elements, many economic elements are declining. so the stock market price of gold sometimes usually goes up, but sometimes goes down real estate, which is an important investment. tends to price, real estate tend to decline at those times when people usually do as they turn to jewelry for a whole list of reasons psychological, primarily and, and emotional. and what we see of those times is because there's a rise in demand. and usually those sort of times difficult to mine, which was clearly the case during cove. it prices tend to rise. so as such, some diamonds are no doubt a hedge. so in that regard,

they are a good investment for the long term, especially not just the damage scribe, but those with unique colors, unusual colors of pinks, red blues are, are in great demand and they're rarity. makes them especially expensive. and so for example, the are, the minute really of it shut down about 2 years ago was the main source of being diamonds. without that mine, there's going to be a lot less big time coming into the market, so their prices are appreciating. that's the natural trend in terms of rubies is that far as we're seeing those kind of trends with semi precious gems as well, although not the same extent. so there are some sapphires in emeralds

and rubies that are appreciating in value. but this is primarily when they are attached to an interesting piece of jewelry. so necklaces, crowns earrings that have a story behind them. so providence does a lot to to increase their value over time. and those are interesting investments. if we talk about investments in terms of, you know, if they go out to the store, my local specialty jeweler and i buy one carrot ring with, with a typical color clarity combination. their prices do increase over time, but it's not a real investment opportunity. the whole retail model is based on the idea that i buy wholesale, like, you know, mark up the goods a little bit and then sell them very when you wanna turn back to the store and say, look, you know, i buy this from you for so many dollars in the ass 23510 years ago. and now i want

to see this return on investment in our retailer won't buy it back at a retail price. so buy back in a hostile price because you know, that's the basis of the retail business. also only so little so, so at times people can feel that they did not see the full appreciation. but mainly it has to do with the fact that they bought out within a model that does not encourage to create those kind of transactions. it seems like several of the top tier mines have already been depleted mines in me and mar that contained the infamous pin, blood, rubies, or cashmere sapphires, or the gal conder mines for diamonds has been long depleted. so do you see other semi precious stones like opals are aqua marines joining the ranks of the traditional sapphire rubies emeralds b will?

it's so tricky question. so let's start with with you know what, what is available and will be available. i'm one of the answers to the. ready question of availability as technology right would used to be impossible to reach the past, all of a sudden becoming became available. when technology change, when exploration technologies improves when conditions have improved. look at a lot of the diamond minds around the world. today they're underground and i've been to a diamond mine in the started as an open it, which is a typical my. and it went more than 600 meters underground. now, this is technology that didn't exist you know many years ago. and today, you know, your mining diamond at chemo a kilometer below sea level. so, so it's, it's really

a matter of technology. i had a conversation with the ceo of the beers with really clever, who said, look, we're ready, thing changes in technology that will allow us to find diamonds of places that in the past we thought that they're not there or in the past we felt they are a possible resource but just because of the costs and complexity of mining it is resources whenever. busy developed and now we're able to develop them and we'll see that the music was working on of us get there and, and be able to extract these gems economically. so this is, and this is true for all gen, this is not true just for diamonds, just referred to for sapphires, emerald, etc. so that's the answer, different part of the question. will we see other gems rise and become

interesting in patients? absolutely. it's a possibility. i think that there are a lot of beautiful minerals out there that are not being traded as is very expensive or legal items and tastes change interest change. i wouldn't be surprised at all. you'll see that some of these items that are today viewed as sort of pedestrian become desirable and of interest. marketing will, haven't had that interesting brand, will come out with design or jewelry line that is based on a certain item that will promote it clearly. so there's definitely a possibility. so we know that the rarity of diamonds is somewhat manipulated by the beers who have monopolies. what about the color gems? markets are the color precious gen innately scares or are there other market forces

at play? it's coming to the fiction that the beers is a monopoly, that is gaming prices. so, look for the past, you know, back in the old days, we're not talking, you know, 304050 years ago, the beers had an 80 percent market share. was a combination of our market share fucking by the value of rough diamonds. this market was created not only by the fact that the bill was the largest diamond minor in the world who was also the largest marketer. in other words. ready would buy diamonds from other companies and market it jointly and made a lot of sense for the exploration other exploration mining companies. we didn't have to deal with the marketing process. we have to clean the diamonds. we have to sort of the diamonds in they have to maintain a large operation of understanding what's the price of certain stone that of, you know, 3 to 8000 different ways of,

of breaking you can bring the diamonds up to, you know that some taken down 530023000 categories and some breaking to a 1000. so there's a lot of a lot of issues involved and how do you price and market. so it was easy to provide it to the business. about 20 years ago, the company became very sensitive to the issue of its monopoly mystic position and made a couple of changes in the way that it works that changed it. so today the beers is about by value 30 percent of the supply for the market. there's another company rosa that up until about a year ago when they found the sanctions you sanctioned in february 2022 because it's the russian company. so,

but at that point it was the biggest supplier of diamonds by phone, right? by value a little bit less. so not only that the beer is, isn't the biggest minor anymore. it's, it's, you know, some could argue it's not all going to, pardon me, not only would you say that, so not it could be argued that not only that the beers is not a majority provider monopolistic provided to the market. that in fact, it's not even the biggest company in the market because there's another company that sells more by thank you so much, even go on for your time and insight. now in the debate between diamonds and colored jan's is the consumers who are ultimately decide are these beautiful stones worth? the stress we put on the environment is the cost justified when the lands are stripped and rivers polluted. ultimately, it is up to the consumer to decide if it is worth it to them,

or if they're happy with a counterfeit. i would say, synthetic sense, counterfeit has the connotation of deceit, and people are not necessarily being deceived. but the beauty of purchasing a stone that has been growing for millions of years and then plucked out of the ground is so special. and no amount of technology could ever replace or even come close to the fascination of a natural stone. but at what cost to the enlightened me, i'm christie. i thanks for watching. and we'll see right here next time on the cost of everything. oh, a 1st time in history and the entire country's culture has been canceled to the very modern weapon. cancel, culture. really desperate wonderful lucille mala. so we thought wimberly from here

just in the said in the one you put glue. the phrase now particularly refers to counseling russian culture and yet them know what she can be up. a few orders that i give to william myers. sure. which have over your but his choice. so that overcome was sandwich to london, east them with what rushes created over the past 1500 years. there's no question. ashley condemned, reviled and reject it. just to remind you that it was sunny at the will of bramble . there's a lot closer on a whole bunch. thank you, said a little short list. joining turtle condemnation, gross daily, and now includes da staff skate to cascade and shostakovich. yet that i need to you a quick tour left, but yes, you, you're sig, back with that, i'm, will you do obama lee? you're not going to do that

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