Abstract
The diamond industry has long been associated with environmental and social problems, ranging from mining practices to ethical concerns related to diamond sourcing. In recent years, there has been a growing interest in lab-grown diamonds as a sustainable alternative for diamond consumers. However, the production of lab-grown diamonds has own challenges. This article examines the capital expenditures per annualized carat of rough diamonds obtained through mining and two fabrication methods: high-pressure high-temperature (HPHT) and microwave plasma-assisted chemical vapour deposition (MP CVD). Lab-grown diamonds produced using HPHT and MP CVD methods require significantly higher capital expenditures per annualized carat compare to mined diamonds. HPHT diamonds require on-time CapEx of 500–833 US$ per carat annually, while MP CVD diamonds demand 549–1648 US$ per carat annually. Finding ways to reduce production cost and increase efficiency will be crucial in realizing the potential of lab-grown diamonds as a sustainable alternative to mined diamonds.
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