The pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.
Gemfields Secures $65 Million in Financing for Growth
The gemstone miner and marketer said that $45 million of that will be used to ramp up production at its Montepuez ruby mine in Mozambique.

London--Gemfields has secured four credit facilities totaling $65 million to be used to ramp up production at the Montepuez ruby mine and for general expenses.
Three banks in Mozambique allocated loans of $15 million each for Montepuez. CFO Janet Boyce said the funding will help with its growth and expansion plans to increase annual production at the ruby operation to approximately 20 million carats within the next three years.
The company reported production of 8.4 million carats of ruby and corundum in its last fiscal year ended June 2015.
The remaining $20 million came from Macquarie Bank Limited, replacing the $25 million debt facility entered into in April 2015, and will be used for general corporate purposes, according to Gemfields.
The facilities join Kagem’s existing revolving credit facility of $30 million with Barclays Bank in Zambia, which is aiding in the expansion of the emerald mine to more than 40 million carats. Gemfields said production was 30.1 million carats of emerald and beryl during the last fiscal year.
The financing also will assist in “smoothing the company’s cash flows, given the intermittent nature of revenue in-flows from the colored gemstone auctions,” Boyce said.
The Latest

Parent company Saks Global said the iconic location will be open through the holiday season as it decides what to do with the space.

The virtual event will take place April 7 at 3 p.m.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The educational event will take place in Charlotte, North Carolina, this May.


The independent jeweler first opened its doors in 1888.

The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.

The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.