Why Lab-Grown Diamond Engagement Rings Are Trending in Australia?

A customer recently asked us Why Lab-Grown Diamond Engagement Rings Are Trending in Australia and the answer to it because lab grown diamonds are affordable, have different styles and designs and are environmentally friendly. But let's focus more geographically and see why lab-grown diamonds are now also a trend in Australia. 

Rarity of Diamond Mines of Earth 

The diamond mines are a few on Earth because they cost a lot of resources, for which you need strong financial and labour support. This issue has made the natural diamond mines rare now on Earth, and that is why real diamonds are becoming expensive day by day. The unaffordability of natural diamonds led to the buying of lab-grown diamonds.

The Diamond Mines in Australia 

There are three well-known diamond mines in Australia, named Argyle Diamond Mine (closed in 2020), Ellendale Diamond Field (intermittent operations only),  and Merlin Diamond Mine (non-operational). These diamond mines were one of the giants and are now not fully functional as compared to mines in South Africa, Canada and other regions because of a lack of resources. Here are the main reasons as well: 

South African Vs Australian Diamond Mines 

Let's compare it with one of the big regions, and why the Australian Mines are not functional: 

Labor Cost

Australia's diamond mining industry faced significantly higher labor costs than many other mining regions, with experienced miners earning between $90,000 and $103,000 USD annually. Combined with remote-site allowances, strict labor regulations, and rising operational expenses, these high workforce costs increased the cost of extracting each carat of diamond. 

In contrast, lab-grown diamond production requires far fewer workers and relies heavily on automated HPHT and CVD manufacturing systems, resulting in substantially lower labor costs per carat. As diamond prices and ore quality declined over time, the high operating costs of natural diamond mining made some Australian mines economically unviable, ultimately contributing to the closure of major operations such as the Argyle Diamond Mine.

Remote Locations

The locations of mines in Australia are remote, where the mining company have to create everything from scratch, like construction sites, resource hubs, outstations and even airports to carry the diamonds, which creates another barrier for mining the diamonds in Australia. 

Diamond Types 

The diamond types are mostly industrial grades and yellow or brownish shades that do not give a good profit margin. To extract the more pure form of diamond, the miners have to dug deeper, and this requires a lot of cost, labour, and risk to the environment as well. That is why the mines are being non-operational.  

Diamond Mining is More Expensive than You Think 

Diamond mining is far more expensive than many consumers realise, especially in Australia, where high labour costs, strict regulations, and remote mining operations significantly increase production expenses. As natural diamond mines become less economically viable and operational costs continue to rise, the price gap between mined and lab-grown diamonds has widened. This shift is driving more Australians toward lab-grown diamond engagement rings, which offer the same visual appeal at a lower cost and with a more predictable supply chain.

Australia Is Known For Importing and Wholesaling Lab-Grown Jewellery 

There is no proper industrial-scale manufacturing of lab-grown diamonds in Australia, but it still has open gates for importing lab-grown diamonds. This has helped many global sellers to help the people in Australia get the best and most affordable synthetic lab-grown diamond jewellery. 

The major natural diamond mines crisis in Australia has led the people in this region to think of more ethical ways to get diamonds. Therefore, choosing a lab-grown diamond over a natural diamond is no longer a trend but a necessity and a smart way to save money. Companies like Siara By Ark are now the top-most favourite and leading brands in Lab Grown diamonds Australia. 

Lab-Grown Diamond Engagement Rings in Australia

Siara By Ark have got hundreds of queries on a daily basis from people who love buying lab-grown diamonds and especially engagement rings, especially after 2020. The main reasons were the closure of big natural diamond mines in Australia, the global economic crisis in 2020 and also the awareness about saving the Earth. So, as a responsible citizen, many people, especially Gen Z, love buying lab-grown diamond engagement rings.

If you want trending lab-grown diamond ring designs or a personalised ring, you can contact us anytime.