EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
SourcingMar 12, 2018
Mustang Opens Sales, Marketing Office in Thailand
The mining company will close its larger sales facilities in Mauritius, which are no longer “suitable” for current production levels.
Mustang Resources is moving its sales operations from Mauritius to Chanthaburi, Thailand. In this photo, rubies are being re-sorted for sale at the new facility.
Sydney--Mustang Resources has announced a few changes to its sales and marketing operations following a strategic review of its Montepuez ruby project in Mozambique.
The review was initiated and overseen by the company’s new managing director, Bernard Olivier, who was named to the position in January.
Mustang will close its sales facilities in Mauritius, which were established to hold large-scale auctions. The mining company said given its current production levels, they’re no longer suitable.
It now has set up a sales and marketing office in Chanthaburi, Thailand, known to be one of the main trading and beneficiation centers for colored gemstones in the country. The new office there is smaller and lower cost than the Mauritius facilities, Mustang said.
The company’s ruby inventory of more than 333,184 carats that was stored in both Mauritius and Mozambique has been relocated to Chanthaburi, where it will be re-parcelled and prepared for sale.
Mustang also said it has revised its marketing strategy to base it on the regular sales of rubies of all qualities to local and international customers. It’s intended to help the company regularly gain market intelligence so it can identify demand in all categories of rubies as well as establish relationships with ruby customers to meet their individual requirements.
The Chanthaburi office also will oversee select heating and cutting of the company’s mined rubies.
Mustang held its first auction of rubies from Montepuez in Port Louis, Mauritius in October, but called the results “disappointing.” Of 21 “schedules” offered, comprised of multiple lots, eight were sold.
Mustang said at the time that the final results “reflected inadequate volumes in each category,” but added that the sale allowed them to gather valuable market intelligence for future tenders.
The next planned plant upgrade at its Montepuez ruby project was delayed so the company could focus on accumulating more rubies in each of the most desired ruby categories ahead of its next tender, slated for mid-2018.
Mustang’s managing director resigned from his position shortly after the sale.
In other company news, Mustang announced it has upgraded another exploration license at Montepuez to a mining concession.
The area covered in the former prospecting and exploration license is an integral part of its ruby project, it said. The majority of the ruby bulk sampling and pitting conducted by Mustang over the past several months was undertaken on the license.
The mining concession
Editors' Picks
Sponsored by
is valid for an initial term of 25 years.
Mustang now has to complete an Environmental Impact Assessment and associated enjoyment of land within three years.
The mining company also has appointed experienced resources executive Evan Kirby as a non-executive director.
Kirby is a metallurgist with more than four decades of experience. Over the last couple of years his focus has been on the development of an African-based graphite project.
He is based in Perth, Western Australia.
Mustang now has to complete an Environmental Impact Assessment and associated enjoyment of land within three years.
The mining company also has appointed experienced resources executive Evan Kirby as a non-executive director.
Kirby is a metallurgist with more than four decades of experience. Over the last couple of years his focus has been on the development of an African-based graphite project.
He is based in Perth, Western Australia.
More on Sourcing
The Latest
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
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.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
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.
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.
