SourcingMay 20, 2024
Anglo American Confirms It Is Looking to Sell De Beers SourcingJun 12, 2024
Bruce Cleaver Is Gemfields’ New Chair
The former De Beers CEO will step into the role next month.
Bruce Cleaver, who led De Beers from 2016 until 2023, has joined Gemfields’ board as chair, effective July 1.
London—Gemfields announced it has appointed former De Beers Group CEO Bruce Cleaver as chair and independent non-executive director.
“Bruce’s reputation as a preeminent leader is well documented and he brings considerable experience of mining gemstones in Africa and marketing them internationally,” said Gemfields.
Cleaver joined De Beers in 2016 and headed the company for more than six years, overseeing the launch of Lightbox and the creation of blockchain platform Tracr among other key initiatives.
His position with Gemfields will begin July 1.
Cleaver noted parallels between the how the two mining companies deliver consistent and reliable supply.
“Gemfields is a unique and extraordinary business, one that has taken a fragmented and fairly informal industry to considerable sophistication as the first consistent supplier of significant quantities of colored gemstones in a responsible and transparent manner,” he said.
“The colored gemstone market has long-transcended the arrival of its lab-grown counterparts, with lab-grown rubies having been around for more than 120 years.”
Cleaver noted he looks forward to working with the Gemfields team to prepare the company for its next stage of growth, which includes the construction of a new processing plant at Montepuez Ruby Mining Limitada, the company’s ruby mine in Mozambique.
The new plant, designed to triple throughput capacity, is scheduled to be completed during the first half of 2025, he said.
Cleaver will also become chair of the nomination committee.
He will succeed Martin Tolcher, who has served as a board member since 2008 and as chair since 2019.
“I am truly delighted to have such a remarkable successor in Bruce and am confident that Gemfields will go from strength to strength under his stewardship,” Tolcher said.
Related stories will be right here …
“Bruce’s reputation as a preeminent leader is well documented and he brings considerable experience of mining gemstones in Africa and marketing them internationally,” said Gemfields.
Cleaver joined De Beers in 2016 and headed the company for more than six years, overseeing the launch of Lightbox and the creation of blockchain platform Tracr among other key initiatives.
His position with Gemfields will begin July 1.
Cleaver noted parallels between the how the two mining companies deliver consistent and reliable supply.
“Gemfields is a unique and extraordinary business, one that has taken a fragmented and fairly informal industry to considerable sophistication as the first consistent supplier of significant quantities of colored gemstones in a responsible and transparent manner,” he said.
“The colored gemstone market has long-transcended the arrival of its lab-grown counterparts, with lab-grown rubies having been around for more than 120 years.”
Cleaver noted he looks forward to working with the Gemfields team to prepare the company for its next stage of growth, which includes the construction of a new processing plant at Montepuez Ruby Mining Limitada, the company’s ruby mine in Mozambique.
The new plant, designed to triple throughput capacity, is scheduled to be completed during the first half of 2025, he said.
Cleaver will also become chair of the nomination committee.
He will succeed Martin Tolcher, who has served as a board member since 2008 and as chair since 2019.
“I am truly delighted to have such a remarkable successor in Bruce and am confident that Gemfields will go from strength to strength under his stewardship,” Tolcher said.
Additionally, Simon Scott will join the board as independent non-executive director, and Kieran Daly will join the board as non-executive director.
Scott will also join the audit committee and the nomination committee, and he will also chair the risk council.
Scott, who was previously chief financial officer at British producer of platinum group metals Lonmin plc (formerly Lonrho plc), is also a non-executive director of First Quantum Minerals Ltd. and Sylvania Platinum Ltd.
Daly is currently an alternate director to Patrick Sacco on the Gemfields board, and he holds board-level roles in other mining companies, including at Australia-based Atlantic Lithium Ltd.
Daly is managing director of mining holding company Assore International Holdings, which holds a 29 percent holding in Gemfields, and a growth and strategic development executive at Assore Holdings.
Kwape Mmela, Gemfields’ independent non-executive director, chair of the remuneration committee, and a member of the nomination committee, will become lead independent non-executive director and join the audit committee.
All new appointees will step into their new roles July 1.
Lead Independent Non-Executive Director Lumkile Mondi and Independent Non-Executive Director Carel Malan are resigning, also effective July 1.
Mondi, as well as Tolcher, signaled last year that they were entering their final terms in office on the Gemfields board.
Malan will focus on his now permanent role at Ore & Metal Company Ltd., a subsidiary of Assore Holdings.
“Martin, Lumkile, and Carel have all provided invaluable contributions to the company during their respective tenures on Gemfields’ board,” the company said.
Gemfields’ annual general meeting will take place June 25.
More on Sourcing
The Latest
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
FinancialsApr 17, 2025
Movado Group to Increase Prices to Offset Tariffs ImpactDuring a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning CenterThe free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from MembersThe feedback will be used to prepare other jewelers for the challenges ahead, the organization said.
Weekly QuizApr 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyApr 17, 2025
Technology Therapy Group Expands AI Training for Jewelry RetailersThe online sessions are designed to teach jewelers to use AI tools like ChatGPT and Claude to grow their business.
IndependentsApr 16, 2025
Catbird Expands to ChicagoThe opening marks the jewelry retailer’s first location in the Midwest.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
CollectionsApr 16, 2025
Foundrae’s First Commitment Jewelry Collection Unites Through LoveThe “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.
IndependentsApr 16, 2025
Indiana Jeweler to Host Black Jewelry Designer Pop-UpRobert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.
MajorsApr 16, 2025
WJA Announces Board Members, New Chicago Chapter PresidentThe announcements follow a tumultuous start to 2025 for WJA, which saw a wave of resignations following controversial statements about DEI.
EditorsApr 15, 2025
Tariffs: What We Know Right Now Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.
EditorsApr 15, 2025
Q&A: Bogolo Joy Kenewendo on Making Deals, Marketing DiamondsKenewendo, Botswana’s minster of minerals and energy, discusses closing the deal with De Beers and the work that was missed along the way.
AuctionsApr 15, 2025
23-Carat ‘Golconda Blue’ Heads to AuctionThe historic fancy vivid blue diamond set to headline Christie’s Geneva sale next month could sell for up to $50 million.
FinancialsApr 15, 2025
LVMH’s Q1 Sales Slip 2 PercentLVMH CFO Cécile Cabanis also discussed the effects of tariffs so far.
CrimeApr 15, 2025
Jon Hamm Plays a Jewel Thief on Apple TV+The “Mad Men” and “The Morning Show” star steals jewelry, art, and handbags from his wealthy neighbors in “Your Friends & Neighbors.”
FinancialsApr 14, 2025
Movado to Restate Years of Financials Due to ‘Misconduct’ in Dubai An investigation found that the former managing director of Movado’s Dubai branch overstated and prematurely recorded sales.
CollectionsApr 14, 2025
Sauer Embraces Emptiness Through ‘Ma’ CollectionThe collection pays tribute to the Japanese philosophy of Ma, studying balance, stillness, and the interplay between presence and absence.
IndependentsApr 14, 2025
Illinois Jeweler Closing After 45 YearsMari Lou’s Fine Jewelry in Orland Park, a suburb of Chicago, is closing its doors.
GradingApr 14, 2025
GIA Expands Overseas Services as Tariffs Kick InGIA’s labs in Dubai and Hong Kong are now accepting larger diamonds in light of the “logistical challenges” presented by the new tariffs.
AuctionsApr 11, 2025
Piece of the Week: A Replica of Princess Grace’s Wedding EarringsThese earrings by Van Cleef & Arpels, featuring the same design as a pair worn by Princess Grace, are up for auction at Woolley & Wallis.
Recorded WebinarsApr 11, 2025
Watch: Top Tips for Saving Time With AITwo experts share how artificial intelligence tools can help retailers run a more efficient business.
WatchesApr 11, 2025
Bulova Documentary Now on Amazon Prime“America Telling Time: 150 Years of Bulova” explores the storied history of the American watchmaker.
Policies & IssuesApr 10, 2025
Trump Presses Pause on Higher Tariffs for 90 DaysAn across-the-board tariff of 10 percent remains in place for all U.S. trading partners, except China.
MajorsApr 10, 2025
Brilliant Earth Taps Influencers, Their Moms for Mother’s Day CampaignBrigette Pheloung and Tania Sarin, and their mothers, star in the campaign wearing medallions they co-designed.
MajorsApr 10, 2025
Pary LeVian, Matriarch of the LeVian Family, Dies at 96LeVian is remembered for her unwavering commitment to her family, community, and helping others.
Events & AwardsApr 10, 2025
Hamptons Jewelry Show to Debut This SummerThe retail show is open to the public and will run July 24-27.
