CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
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
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
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
Weekly QuizDec 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SurveysDec 10, 2025
Consumer Confidence Drops in November Inflations, tariffs, and politics—including the government shutdown—were among consumers’ top concerns last month.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
