GIA to close Israel lab by end 2024

 The Gemological Institute of America (GIA) has announced that it will shut down its laboratory in Ramat Gan, Israel, due to “significant” declines in local submissions. The lab will be closed before the end of 2024.

The decline in the submission of stones is a result of challenges in the industry. Even after cutting operational costs and staff, the financial situation of the Israeli lab, which was established in 2012, has become too unstable to continue, says a report.