Gemfields has introduced the most technologically advanced coloured gemstone sort house in the world at its operations in MozambiqueJSE-listed coloured gemstone miner Gemfields’ Kagem emerald mine in Zambia, which produces about 25% of the world’s emerald supply, has over the past decade tripled its gemstone production.Demand has grown markedly. A decade ago colourless diamonds were widely perceived by consumers to be the most prestigious of gems.
Following US-led bans in 2008 on rubies from Burma [Myanmar], Mozambique’s consistency and transparency of supply have instilled renewed confidence in rubies and have enabled high-end jewellery brands to create extraordinary capsule collections with fine rubies they would typically have spent years collecting.
It helps of course when the world’s leading auction houses have seen a significant increase in both the interest in, and value of, precious coloured gemstones, with world records occurring on multiple occasions during the past decade. The industry is rightly undergoing heightened supply chain scrutiny with consumers increasingly asking for certificates of origin, requiring much improved knowledge and documentation at the retail level.
We see promising signs of recovery in India: the Indian market is particularly important when it comes to the sale of commercial-quality emeralds and has been navigating challenging financial conditions for some time. It now appears to have turned a corner and we hope it will continue to go from strength to strength.
We believe that coloured gemstones should be mined and marketed by championing three key values: legitimacy, transparency and integrity.