DiamondBuzz
Finestar Diamonds Expands in South Africa with State-of-the-Art Manufacturing Hub
Finestar’s new Johannesburg facility boosts local diamond processing, job creation, and skills development while reinforcing the company’s global footprint and commitment to sustainable growth.
Finestar Diamonds and Jewellery has strengthened its presence in Southern Africa with the inauguration of a new diamond manufacturing facility at Johannesburg’s OR Tambo Special Economic Zone (SEZ) Jewellery Manufacturing Precinct.
The launch ceremony drew senior government officials, industry leaders, and dignitaries, including representatives from the Indian High Commission, De Beers, and the State Diamond Trader. This marks another milestone for Finestar, following previous facility openings in Botswana (2020) and Namibia (2022).
The new South African facility aligns with the country’s beneficiation agenda, promoting local diamond processing, job creation, and skill development. Since 2022, Finestar has created 46 jobs in South Africa—over half held by women—and plans to expand the workforce to 90. Training initiatives are already underway, with 22 employees learning multiple stages of diamond polishing and planning.
Government officials emphasized that local beneficiation supports economic diversification, industrialization, and inclusive growth. The SEZ offers advantages such as VAT exemptions and world-class infrastructure, which help streamline operations for manufacturers.
Finestar executives highlighted that the facility represents a deliberate growth strategy to leverage the SEZ’s ecosystem, scale operations, and extend investment. The company views this move as not only enhancing diamond production but also unlocking opportunities across the jewellery value chain and empowering local communities.
Nilesh Chhabria, COO of Finestar, said, “Our presence in the Jewellery Manufacturing Precinct is a strategic decision to combine infrastructure, policy support, and collaboration opportunities with our partners, enabling us to scale operations and expand investment. We are committed to building on South Africa’s diamond legacy while creating value and shaping a sustainable future for all stakeholders.”
The Johannesburg hub adds to Finestar’s global manufacturing footprint, which includes facilities in India, Botswana, and Namibia, reinforcing the company’s focus on traceability, sustainability, and community impact.
DiamondBuzz
CIBJO Backs ‘synthetic’ As Sole Label For Man-Made Diamonds
CIBJO’s Laboratory-Grown Diamond Committee, Told Delegates That “Synthetic” Remains The Primary Term Recognized By Consumers, Despite A Formal Push From The Sector’s Steering Committee To Defer The Ruling and Authorize “Laboratory-Grown.”
The World Jewellery Confederation (CIBJO) has recommended “synthetic” as the only acceptable descriptor for non-mined diamonds, rejecting calls from trade leaders to permit the term “laboratory-grown,” the organization said on Monday.
The decision, finalized at the closing session of the 2026 CIBJO Congress, deepens a global divide over gemstone terminology at a time when manufactured stones are rapidly eroding the market share and pricing power of mined gems.
CIBJO’s Laboratory-Grown Diamond Committee, told delegates that “synthetic” remains the primary term recognized by consumers, despite a formal push from the sector’s steering committee to defer the ruling and authorize “laboratory-grown.”
CIBJO’s move aligns with a growing regulatory push in several major markets. France restricted terminology to “synthetic” in 2024, Russia followed suit in June, and the London Diamond Bourse endorsed the single descriptor on Sunday. In May, the African Diamond Producers Association also tightened descriptor rules to shield the natural diamond trade.
In contrast, regulators and retailers in the United States and India have favored consumer-friendly phrases such as “lab-grown” or “laboratory-grown.” The commercial stakes are particularly high in the U.S., where synthetic stones now account for more than half of all engagement ring sales by volume, applying severe downward price pressure on natural rough and polished stones.
CIBJO, which began moving to strike “lab-grown” from its influential Diamond Blue Book standards last year, warned that the diverging legal frameworks are leaving the global market increasingly fragmented.
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.