This article from Wired is a fascinating look at new technology that can produce “fake” diamonds. The word fake isn’t really appropriate, as the cultured diamonds are essentially identical to mined diamonds in molecular structure as well as appearance.
Of course, this could potentially damage De Beers’ hold on the diamond market, so they’re not very happy. However, many people think that De Beers have an artifical stranglehold over the diamond industry, and some allegations have been made over their mining operations. Makes you think twice about buying a diamond ring…