Diamond industry

The diamond industry encompasses the exploration, mining, trading, and retail of diamonds, which are precious gemstones formed deep within the Earth. Valued for their beauty and rarity, diamonds are commonly used in jewelry and symbolize luxury. The industry is often scrutinized for ethical issues, including conflict diamonds, which are mined in war zones and sold to finance armed conflict. Efforts like the Kimberley Process aim to ensure that diamonds are sourced ethically. Additionally, advancements in technology have led to the rise of lab-grown diamonds, offering more sustainable and affordable alternatives.