Issue No. 358   Date: September  16  - September 22, 2004

M A I N    H E A D L I N E S

Fake diamonds cause panic
By Kizito Makoye & Lina Lorentz

With advanced technology and aggressive marketing, companies manufacturing synthetic diamonds may pose a threat to diamond producing and exporting countries such as Tanzania. If the laboratory-made diamonds gain popularity, trade in the world’s most expensive gemstone might flounder.
A leading diamond trader, who spoke on condition of anonymity, said increased marketing and sales of synthetic diamonds could have an impact on Tanzania’s exports of diamonds, which are a highly liquid commodity in the international market.
Diamonds could cost up to US$ 500,000 depending on carat weight, clarity, cut and colour. However, synthetic diamonds are manufactured for less than a 100 dollars and sold for a fraction of the price of natural diamonds.
In the US, there are two major companies that manufacture synthetic diamonds. One is Gemesis Corporation situated in Florida. For the past eight years, it has worked closely with the University of Florida’s Materials Science and Engineering Department, processing gem quality diamond crystals.  Full story >>> 

Indian President, Dr. A. P. J. Kalam together with Dr. Salim Ahmed Salim, Chairman of Mwalimu Nyerere Foundation and the former OAU Secretary General leaving the Karimjee Hall where Dr. Kalam met with stakeholders of the Foundation.
(Photo by Leonard Magomba).

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