Sponsored by American Gem Trade Association
Richland continues its exit from Tanzania
After selling off its tanzanite mining operations last fall, Richland Resources is further pulling out of Tanzania by closing its retail stores there.
Bermuda--After selling off its tanzanite mining operations last fall, Richland Resources is further pulling out of Tanzania by closing its retail stores there.
According to a statement from Richland, the company decided to close down its Tanzanite Experience stores after a “review of the strategic options available for its Tanzanite Experience retail operations in Tanzania.”
The company will close all retail outlets across the country, and is finalizing the sale of the stores’ inventory and making redundancy arrangements for employees who were not able to find positions elsewhere in the company.
In November, Richland announced that it was selling its Tanzanite One mining and beneficiation business as well as tsavorite license interests in Tanzania to Sky Associates Group Limited for approximately $5 million.
Before that, the company restructured the Tanzanite Foundation, leading to the closure of the organization’s New York office at the end of August. It is unclear at this time what will happen to the foundation, which provided education about the stone and helped the lives of many people in Tanzania through its community outreach.
Sky did not want to acquire the Tanzanite Experience retail stores as part of the mining and beneficiation business, and Richland was unable to find another buyer.
Richland did not respond to a request for more information on the situation in Tanzania by press time, but one story reports that it has been having issues with illegal mining on its blocks in Tanzania for a while now, making it difficult for the mining operations to achieve profits.
Going forward, Richland said that it will put its focus on the Capricorn sapphire mine in Queensland, Australia, which is expected to be commissioned in the first quarter of this year and will produce blue and colored sapphires.
The Latest

In its holiday report, PwC said the season will be more like jazz—improvisational and less predictable—than an easy-to-follow melody.

The jewelry giant will relocate its existing facility to a larger space in Anne Arundel.

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

The designer, who is the creative force behind her namesake brand, has now started a new mini line focusing on chains for fathers and sons.


The awards include tuition for a course at the Swiss lab, economy flights, and hotel accommodation.

The 21-day program was designed to help jewelry retailers identify opportunities and eliminate inefficiencies with AI.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

A set of four Patek Philippe “Star Caliber 2000” pocket watches is part of Sotheby’s upcoming auction in Abu Dhabi.

The Brazilian jeweler’s latest book marks her namesake brand’s 25th anniversary and tells the tale of her worldwide collaborations.

The Submariner Ref. 1680 with a Tiffany & Co. dial came from the original owner, who won it as a prize on the game show in the 1970s.

The new integration allows users to manage shipments directly from the Shopify dashboard.

At Converge 2025, Editor-in-Chief Michelle Graff attended sessions on DEI, tariffs, security, and more. Here are her top takeaways.

Six people were shot last week at an Oakland cash-for-gold shop as employees exchanged gunfire with individuals trying to rob the store.

The jeweler has expanded its high jewelry offering, which launched last year, with new pieces featuring its cube motif that debuted in 1999.

Ben Bridge Jeweler and Lux Bond & Green were a part of the pilot program.

Associate Editor Natalie Francisco shares eight of her favorite jewelry looks from the 77th annual Primetime Emmy Awards, held Sunday night.

It’s predicting a rise in retail sales this holiday season despite economic uncertainty and elevated inflation.

It included the sale of the 11,685-carat “Imboo” emerald that was recently discovered at Kagem.

The newly elected directors will officially take office in February 2026 and will be introduced at the organization’s membership meeting.

Associate Editor Lauren McLemore headed out West for a visit to Potentate Mining’s operation hosted by gemstone wholesaler Parlé Gems.

Fordite is a man-made material created from the layers of dried enamel paint that dripped onto the floors of automotive factories.

Gilbertson has worked as a researcher, jeweler, lapidary artist, appraiser, and business owner throughout his decades in the industry.

A decision likely won’t come until January 2026 at the earliest, and the tariffs remain in effect until then.

Located in the revamped jewelry hall at the retailer’s New York City flagship, this opening is Tabayer’s first shop-in-shop.

The new, free app offers accessible educational content, like games and podcasts, for U.S. retailers.

As the gold price rises, the manufacturer is offering a 100 percent payout through Sept. 30 for gold clean scrap.