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.
OtherNov 16, 2014
Production at Gemfields’ Kagem mine down slightly
Precious gemstone miner Gemfields reported Friday that production of emerald and beryl at its Kagem mine in Zambia hit 6.3 million carats in its third quarter, down from 6.5 million in the prior-year period.
London--Precious gemstone miner Gemfields reported Friday that production of emerald and beryl at its Kagem mine in Zambia hit 6.3 million carats in its third quarter, down from 6.5 million in the prior-year period.
Total operating costs at Kagem were $10.3 million, up from the $7.1 million reported last year. The mine produced an average grade of 214 carats per ton, versus 302 carats per ton in the year prior.
The third quarter results included an August auction of predominantly lower-quality rough emerald and beryl in Lusaka, Zambia, which totaled $15.5 million. It was 96 percent sold by weight and 88 percent sold by value, resulting in an overall average of $1.34 per carat.
Gemfields also is currently holding an auction of predominantly higher-quality emerald and beryl from Kagem in Lusaka that will conclude Monday, an auction that was delayed from its original date in late October after the death of Zambian President Michael Sata.
Production at the company’s Montepuez ruby mine in Mozambique was flat at 2.9 million carats, with an average grade of 41 carats per ton, down from the 118 carats per ton in the year-earlier period.
Total operating costs at Montepuez rose from $1.8 million last year to $4.3 million in 2014. Its next auction of rough ruby and corundum is slated to take place in Singapore in December.
Gemfields also reported that Fabergé saw the value of sales orders agreed during the quarter increase by 50 percent compared with the year prior. In addition, the brand’s operating costs for the quarter were 26 percent lower than the third quarter 2013.
Fabergé is continuing to expand its jewelry and watch collections, including the introduction of a new category, objets. Related product launches are expected during the second half of the 2015 fiscal year.
Also notable in the company’s third quarter activities was Gemfields’ entry into a joint venture with East West Gem Investments to begin sapphire mining via three Sri Lankan subsidiaries, which will be 75 percent owned by Gemfields and 25 percent owned by East West.
“We’ve been pleased to see new world records on a per-carat basis achieved by both sapphires and rubies at recent auctions held by Sotheby’s in Hong Kong and Geneva respectively,” said Gemfields CEO Ian Harebottle. “In particular, the sale of an 8.62-carat Burmese ruby (at Sotheby’s Geneva) has raised the world record for rubies at
auction by 81 percent to $997,727 per carat. It is against this market backdrop that we look forward to our second auction of rough ruby and corundum, which will be held in Singapore next month.”
More on Other
The Latest
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.
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.
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.
Weekly QuizDec 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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 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.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
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.
ColumnistsDec 09, 2025
Holiday Sales Happen in December, Most Decisions Don’tMost customers who walk into your store this month have made up their minds. Your job is to validate their choice, Emmanuel Raheb writes.
TrendsDec 09, 2025
‘Once Upon a Time,’ Guzema Debuted Its Holiday CollectionThe collection features characters and motifs from Ukrainian folklore, including an enchanted mirror and a magic egg.
TechnologyDec 09, 2025
Gemvision Releases Updated MatrixGoldMatrixGold 3.11, the newest version of the jewelry design program, offers more flexibility, precision, and creative control.
Events & AwardsDec 09, 2025
MJSA Showcase Pavilion Returning to JA New York The pavilion will be part of the 2026 JA New York Spring show, scheduled for March 15 to 17.
MajorsDec 08, 2025
Juell Kadet, a ‘Lifelong Pillar’ of Rogers & Hollands, Dies at 96Kadet, a 1994 National Jeweler Retailer Hall of Fame inductee, helped grow the family-owned retailer in the Chicago area and beyond.
TechnologyDec 08, 2025
You’ve Heard of Smart Watches and Rings; Meet Smart EarringsBilled as the world’s smallest wearable, Lumia Health’s new smart earrings have a health tracker subtly embedded in the back.
TrendsDec 08, 2025
Amanda’s Style File: Celebrating December’s BirthstonesDon’t let those with December birthdays feel blue. Help them celebrate their month with blue zircon, turquoise, and tanzanite.
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
