EditorsNov 07, 2025
Piece of the Week: An MVP’s Sapphire Tennis Necklace At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.
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
IndependentsNov 07, 2025
Foundrae’s New Palm Beach Location Is a ‘Golden Solarium’The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.
FinancialsNov 07, 2025
Watches of Switzerland’s H1 Sales Up 8%The retailer also shared an update on the impact of tariffs on watch customers.
Brought to you by
Jewelers of America Aligns New Mission to Create Meaningful Impact for MembersFrom educational programs, advocacy, and recent MJSA affiliation, Jewelers of America drives progress that elevates businesses of all sizes.
IndependentsNov 06, 2025
Greenwich St. Jewelers Hosts Raffle Supporting Food RescueAll proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.
Weekly QuizNov 06, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsNov 06, 2025
Cornell’s Jewelers Names New PresidentCourtney Cornell is part of the third generation to lead the Rochester, New York-based jeweler.
WatchesNov 05, 2025
Shinola President Steps Down Just as He Starts Former Signet CEO Mark Light will remain president of Shinola until a replacement for Ulrich Wohn is found.
AuctionsNov 05, 2025
Taylor Swift’s Engagement Ring Designer Makes Her Auction DebutKindred Lubeck of Artifex has three rings she designed with Anup Jogani in Sotheby’s upcoming Gem Drop sale.
FinancialsNov 05, 2025
Pandora Posts Modest Q3 Sales Growth Amid ‘Weak’ Consumer Sentiment The company focused on marketing in the third quarter and introduced two new charm collections, “Pandora Talisman” and “Pandora Minis.”
FinancialsNov 05, 2025
Brilliant Earth’s Q3 Sales Climb 10%The jewelry retailer raised its full-year guidance, with CFO Jeff Kuo describing the company as “very well positioned” for the holidays.
Policies & IssuesNov 04, 2025
Supreme Court to Hear Tariffs Case WednesdayAhead of the hearing, two industry organizations co-signed an amicus brief urging the court to declare Trump’s tariffs unlawful.
MajorsNov 04, 2025
Danny Clark to Become Stuller CEO, Succeeding Matt StullerStuller COO Belit Myers will take on the additional role of president, with all changes effective at the start of 2026.
ColumnistsNov 04, 2025
Peter Smith: What Do Birds Have to Do With the Price of Gold? Smith cautions retailers against expending too much energy on things they can’t control, like the rising price of gold.
TrendsNov 04, 2025
Amanda’s Style File: Fall Colors for November BirthdaysCitrine and topaz are birthstones fit for fall as the leaves change color and the holiday season approaches.
IndependentsNov 04, 2025
Weston Jewelers Heads to Fort LauderdaleThe family-owned jeweler will open its fourth store in Florida in late 2027.
CrimeNov 03, 2025
Men Dressed as Construction Workers Burglarize Jeweler’s Home The NYPD is looking for three men who stole a safe and jewelry valued at $3.2 million from the home of a jeweler in Jamaica Hills, Queens.
MajorsNov 03, 2025
Matthew Rosenheim Takes Over as JA Board ChairThe trade organization also announced its executive committee and five new directors.
CollectionsNov 03, 2025
Muse’s ‘Have a Heart’ Collab Returns, Now With DDGThe “Have a Heart x Diamonds Do Good” collection is championed by model and humanitarian Flaviana Matata and will benefit her foundation.
AuctionsNov 03, 2025
Kashmir Sapphire Ring Tops Christie's Online AuctionThe ring, set with a nearly 17-carat Kashmir cabochon sapphire, sold for $1 million.
TrendsOct 31, 2025
Piece of the Week: A Spinner Fit for ‘Frankenstein’This “Mother Father” spinner necklace from Heavenly Vices Fine Jewelry draws inspiration from Victorian Era jewelry.
CrimeOct 31, 2025
5 More Arrested in Louvre Heist, Jewelry Still Missing The suspects were rounded up in Paris and its suburbs on Wednesday night, but none of the stolen jewels were recovered with them.
Recorded WebinarsOct 31, 2025
Watch: How to Master Google Reviews for Your BusinessExperts share top tips on how to encourage positive reviews and handle negative feedback.
Supplier BulletinOct 30, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
CrimeOct 30, 2025
29-Year-Old Man Charged in Multiple Seattle-Area Smash and Grabs The suspect faces charges in the August robbery of Menashe & Sons Jewelers and is accused of committing smash and grabs at two pawn shops.
Lab-GrownOct 30, 2025
Alison Lou’s New Collection Uses Lab-Grown Diamonds and ResinThe “Lumière Fine” collection was born from designer Alison Chemla’s interest in the transformative power of light.
TrendsOct 30, 2025
Amanda’s Style File: A Haunted HalloweenShow off your spooky side with these 12 festive jewels.
