Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
Scio Diamond Technology Corporation (otc-bb:SCIO.OB) announced today that the first full production run using the company’s S3532 technology on five diamond growing reactors was extremely successful. The five growers ran an average of 179 hours each producing over 220 gross carats of diamond.
Joe Lancia, Scio Diamond’s CEO said, “This is yet another major milestone passed on Scio’s roadmap to the mass production of diamond. Not only were we able to exceed our expectations regarding yield, the quality of the material is very high as well.”
As Scio builds a self-sustaining seed stock, the company continues to work with clients on their specific requirements. “Producing high quantities of diamond is one thing,” says Lancia, “but we must produce diamond within the right specifications, dependably and with scalability.” Go to the company’s website o review Scio’s detailed approach to “Diamond Production Innovation – Mass Production.”
Two more reactors are scheduled to enter initial full production runs in the next week. The company expects the balance of the 10 reactors to be in full production by the end of its second fiscal quarter. As production ramps to a normal operating schedule, Scio will be concentrating on a parallel growth in its diamond fabrication capabilities. These will include precise laser cutting and polishing operations to take the rough-cut diamond to the final product.
About SCIO Diamond Scio Diamond employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as “lab-grown” or cultivated diamonds. The diamonds have the identical chemical, physical and optical properties as diamonds found in the earth, and the company’s highly controlled manufacturing process enables it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.
Scio’s technology permits it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.
