“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
Pallinghurst Gets Go-Ahead in its Bid for Gemfields
Pallinghurst Resources Ltd. announced Monday that it has received the shareholder support needed to move ahead with its bid to fully acquire Gemfields.

London--Pallinghurst Resources Ltd. announced Monday that it has received the shareholder support needed to move ahead with its bid to fully acquire Gemfields.
Despite suggestions from Gemfields’ board last week that it might have trouble gaining the necessary support, Pallinghurst received 96 percent of the vote.
The news is just the latest in the bidding war that has been surrounding the London-based colored gemstone miner of late.
In May, Pallinghurst, the company’s biggest investor, made an unsolicited offer to buy the 53 percent of Gemfields it doesn’t already own. Under the terms of the deal, each Gemfields shareholder will be entitled to receive 1.91 Pallinghurst shares for each Gemfields share.
Just a few weeks later, Shanghai-based investment company Fosun Gold offered to pay about $286 million for the company, a “significant premium to the Pallinghurst offer,” Gemfields said.
Gemfields’ board has said from the start that the Pallinghurst offer “significantly undervalues” the company, advising that the Fosun Gold offer is better. The board’s independent committee reiterated that thought in a statement published online Monday, stating that it believes Pallinghurst’s offer “denies Gemfields shareholders the ability to realize the material future upside potential of the company on a standalone basis.”
The company declined to comment beyond its statement posted online.
But since Pallinghurst already had received approval from the majority of Gemfields shareholders (including its own shares) and, now, gotten approval from its own shareholders, it has declared its offer for Gemfields to be wholly unconditional.
As of the end of the day Monday, Pallinghurst said in a statment, it had received the acceptances of more than 75 percent of shareholders (the necessary threshold), securing its control of the company and allowing it to de-list Gemfields from the AIM market of the London Stock Exchange once the offer expired July 4.
Concurrent with Monday’s announcement from Pallinghurst, Fosun Gold’s cash offer for Gemfields lapsed.
In other company news, Gemfields also held an auction of rough ruby from the Montepuez mine in Mozambique this month and saw record auction revenues.
At the Singapore sale, which offered high- and commercial-grade rough rubies in both untreated and treated form, revenues reached a high for Gemfields of $54.8 million.
The auction was 85 percent sold by weight but 98 percent sold by market value, with an average per-carat price of $61.13.
The ruby sale was the second ruby and final auction of this
The Latest

Boucheron and Pomellato performed well in an otherwise bleak quarter for Kering amid struggles at Gucci.

Designer Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.

Six new retail businesses were selected for the 2025 program, which began in January.

Sponsored by the Gemological Institute of America


Simon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.

A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.

The risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.

The company failed to file its quarterly reports in a timely manner.

Charms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.

Located in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.

Paola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.

A platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.

The basketball stars wear men’s jewelry from the “Curb Chain” collection.

The Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.

The 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.

Lilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.

GCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.

The Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.

“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.

Van Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.

Industry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
The two organizations will hold the educational event together this fall in Mississippi.

The entrepreneur and “Shark Tank” star will share his top tips for success.

The Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.

The jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.

The “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.