The Gemological Institute of America (GIA) announced the shutdown of its laboratory in Ramat Gan by the end of the year due to “significant” declines in local submissions.
The decrease in the number of stones brought in for grading is the result of challenges in the diamond industry, the GIA said Tuesday. Despite cutting operating costs and staff, the Israeli laboratory has become financially unsustainable, the institute explained.
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 labs, with no additional service fees for impacted clients. Regular shipping charges will apply for diamonds that would not previously have been serviced locally.
“Israel continues to be an important center for specialized diamond cutting and polishing,” said GIA CEO Susan Jacques. “We will provide services for our clients through other GIA locations.”
The institute is also working on a third-party system to facilitate walk-in submissions in Ramat Gan for service in other GIA labs. The lab will release further details soon, it added.
GIA opened its Ramat Gan lab in 2012.
Main image: Polished diamonds. (The Gemological Institute of America)
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