The Gemological Institute of America (GIA) will close its laboratory in Ramat Gan, Israel by the end of 2024 amid lacklustre diamond demand and challenging business conditions. 

GIA attributed the closure to shifts in the global diamond industry that resulted in significant declines in submissions from local clients over the last several years. It explained that, despite efforts to reduce operating expenses and staff numbers through attrition, the Ramat Gan laboratory is not financially sustainable. 

“Israel continues to be an important centre for specialised diamond cutting and polishing,’ said Susan Jacques, president and CEO of GIA. “We will provide services for our clients through other GIA locations.”

All diamonds currently at the Ramat Gan laboratory will be returned to clients with the requested GIA reports. 

From November 17, the Ramat Gan laboratory will continue to accept submissions for service at other GIA locations. Diamonds that would have been serviced in the Ramat Gan laboratory will be sent to other GIA laboratories and returned to clients at no additional cost. 

GIA is also working to establish a third-party process to accept submissions from walk-in clients in Ramat Gan for service in other GIA laboratories.