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TREATMENT
Any non-natural processes (other than shaping,
polishing and surface cleaning) that change, interfere with
and/or contaminate the natural appearance, composition or
durability of a gemstone. For diamonds, this includes colour
treatments (and decolourisation or ‘bleaching’), fracture-
filling, laser-drilling, irradiation treatment, and coating
UNDISCLOSED SYNTHETIC
A synthetic diamond that has been
falsely passed off as a natural gem
UPSTREAM
The stage of the diamond value chain that
includes rough-diamond exploration and production
WACC
Weighted Average Cost of Capital: A calculation of a
company’s cost of capital in which each category of capital is
proportionately weighted. All capital sources – common stock,
preferred stock, bonds and any other long-term debt – are
included in a WACC calculation
WHOLESALER
An organisation that buys polished diamonds
in order to distribute them to jewellery manufacturers
and retailers