The Gemological Institute of America (GIA) has announced the plan to close its laboratory operations in Ramat Gan, Israel by the end of 2024 recently.
GIA said the reason is because of a significant decline in submissions from local clients, reflecting broader changes in the global diamond industry. Although the institute has cut operation costs and reduced staff by attrition at the lab, the Ramat Gan laboratory has become financially unsustainable.
According to GIA president and CEO Susan Jacques, Israel remains a key hub for specialised diamond cutting and polishing, and GIA will continue supporting Israeli clients through other GIA locations.
GIA has ensured that all diamonds currently at the Israel-based lab will be returned to clients with their requested reports. From November 17, GIA will begin directing submissions from the Ramat Gan facility to other GIA locations for processing. GIA has committed to covering any additional shipping fees for local clients who would have previously used the Ramat Gan lab, though regular shipping costs will still apply for other submissions.
To maintain local access for walk-in clients in Israel, GIA is working on a third-party submission process system. The lab said details on this service will be released soon. GIA opened its Ramat Gan lab in 2012. (Photo courtesy: GIA)
20-11-2024
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