Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
SourcingJun 16, 2017
Chinese Co. Makes a Play for Gemfields
Fosun Gold has put in an offer for the company that tops the one made by the miner’s biggest investor, Pallinghurst Resources.
Gemfields operates the Kagem emerald mine in Zambia, pictured here. The company, which also mines rubies in Mozambique, recently received a buy-out offer that tops the one made by its biggest investor last month.
London--Shanghai-based investment company Fosun Gold announced this week that it’s making a play for colored gemstone miner Gemfields.
In its proposal dated June 14, Fosun offered to pay 40.85 pence per share (about $286 million) for the colored gemstone mining company, a 15.1 percent premium to Gemfields’ June 13 closing price of 35.50 pence and 10 percent above Pallinghurst Resources Ltd.’s offer of 37.10 pence per share.
The offer would “provide Gemfields shareholders with a compelling cash alternative at significant premium to the Pallinghurst offer,” Fosun said.
Pallinghurst, an investment fund formed by former BHP Billiton CEO Brian Gilberston, is Gemfields’ biggest investor and is looking to buy the 53 percent of the company it doesn’t already own.
Gemfields has said that Pallinghurst’s 37.10 pence per share offer “significantly undervalues” the company and, in a statement issued this week, noted it is “actively engaged” in discussions with Fosun Gold regarding a possible competing offer, which “may lead to a cash offer at a superior value to Pallinghurst’s unsolicited offer.”
Fosun Gold Holdings Ltd. is a wholly owned subsidiary of Shanghai-based Fosun International Ltd., an investment firm focused on “health, happiness and wealth” that has sunk money into companies like Cirque du Soleil, Club Med and Greek jewelry company Folli Follie.
In explaining its rationale for attempting to buy Gemfields, Fosun Gold said that “under the right ownership, Gemfields can continue to transform the colored gemstone market,” given its mining assets and marketing expertise.
Fosun also noted the potential it sees for Gemfields in China, where fine jewelry, including the exchange of engagement rings, is growing in popularity among consumers, stating that it “believes it has the financial capability and consumer expertise to allow Gemfields to accelerate and continue that trend as well as to help it access China, a previously underexploited market.”
Gemfields operates emerald and ruby mines in Zambia and Mozambique and owns the Faberge brand.
In its statement this week, the mining company said it “continues to strongly advise” shareholders not to take any action on Pallinghurst’s offer and wait for an update on the status of the discussion with Fosun Gold, which will come on or before June 27.
The Pallinghurst offer remains open for acceptance until July 4. Fosun, meanwhile, has until end of business on Aug. 5 to make a formal offer for Gemfields.
A Gemfields spokesperson said the company cannot comment on either
Editors' Picks
Sponsored by
offer beyond its published statements.
More on Sourcing
The Latest
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
Weekly QuizOct 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
MajorsOct 29, 2026
Gesswein Hires Longtime Bench Jeweler, Educator Ann CahoonCahoon was appointed strategic account and educational program manager at Gesswein, which recently joined Continental Buying Group.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
MajorsOct 29, 2026
Amanda Seyfried Stars In Tiffany & Co.’s Holiday CampaignTiffany & Co.’s latest ambassador makes her debut in its “Love Is a Gift” holiday campaign.
EditorsOct 28, 2026
These Wicked Jewels Will Cast a Spell on YouFor her annual Halloween story, Senior Editor Lenore Fedow highlights bewitching jewels fit for a witch that go from day to unholy night.
CrimeOct 28, 2026
Man In Florida Who Swallowed Tiffany & Co. Earrings ConvictedJaythan Gilder was found guilty of robbery and grand theft after stealing and then ingesting nearly $800,000 worth of Tiffany & Co. jewelry.
SurveysOct 28, 2026
Consumer Confidence Up in October as Gas Prices EaseConsumer confidence remains on the long-term downward trend that’s persisted over the past few years, said a Conference Board economist.
MajorsOct 28, 2026
Stuller’s Holiday Campaign Lets the ‘Magic of the Moment’ ShineThe holiday campaign includes key jewelry trends, a curated holiday gift guide, and resources to help jewelers prepare for holiday shoppers.
IndependentsOct 27, 2026
Solomon Brothers Acquires Mervis Diamond ImportersSolomon Brothers, which has three stores in the Metro Atlanta area, said it may continue to acquire other independent jewelers.
IndependentsOct 27, 2026
Gabriel & Co. Supports Charity Partner DKMS With Gala, New JewelsThe fine jewelry brand raised $2.3 million at its annual gala that supports the nonprofit’s fight against blood cancer and blood disorders.
Events & AwardsOct 27, 2026
JFC Announces 2027 ‘Facets’ HonoreesThe annual fundraising event is slated for June 6, 2027, at The Venetian Resort in Las Vegas.
CollectionsOct 26, 2026
Bliss Lau’s ‘Vantage’ Point Is the Hawaiian HorizonIn her “Vantage” collection, Lau explores heritage, identity, and inner strength through designs featuring blue-green Guatemalan jade.
MajorsOct 26, 2026
Tiffany & Co. Takes Consumers Behind the ScenesThe jeweler gave the public backstage tours of its flagship store and its design and innovation workshop as part of LVMH’s open house.
Events & AwardsOct 26, 2026
Support JFC’s ‘Monster Mash Challenge,’ If You DareVote for which jewelry professional should dress up as a monster to support Jewelers for Children’s annual Halloween fundraiser.
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
