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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
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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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