Editors

5 Developments That Shaped the Colored Stone Sector in 2018

EditorsDec 27, 2018

5 Developments That Shaped the Colored Stone Sector in 2018

Senior Editor Brecken Branstrator reviews the top technology, activities and trends in colored gemstones this year.

20180110_Gubelin.jpg
With traceability and responsible sourcing one of the colored stone sector’s most important issues, Gübelin Gem Lab’s launch of a blockchain system for colored gems was notable in 2018.
The colored gemstone market is inextricably linked to supply chain developments; so much so that one new source, or change in accessibility to an existing source, has a ripple effect.

This year was full of changes and progressions that shaped the sector.

Here are the five developments that, in my opinion, most affected the colored gemstone supply chain in 2018.

1. Focus on blockchain and tracing in colored stones continued to grow.

It’s really no surprise there was development in this area, given the importance of responsible sourcing in today’s market.

Earlier this year, Gübelin Gem Lab announced that it has partnered with Everledger to create a blockchain for colored gemstones, designed to engage all parties involved in the lifecycle of a gemstone and applicable to every stone.

The project comes as part of the lab’s Provenance Proof initiative, a long-term program designed to develop and provide technologies to the gemstone industry to make it more transparent. The initiative includes its “Emerald Paternity Test,” which involves applying DNA-based nanoparticles directly onto rough emerald crystals at mining sites to allow for origin determination up through the supply the chain.

Global rollout of the blockchain is slated to begin during the Tucson gem shows in February 2019.

Meanwhile, during the second World Emerald Symposium this fall, the Colombian Ministry of Mines and Energy unveiled a new project dubbed the “Mineral Digital Fingerprint” project, designed to help track minerals sourced in the country.

I can’t help but think that at the very least, these are moves in the right direction for the colored stone industry.

2. Fura turned up the heat in Colombia and Mozambique.

Led by a trio of ex-Gemfields executives, Fura Gems (formerly Fura Emeralds) has made quick work of building a team and acquiring mining sites.

Dev Shetty, the former COO of Gemfields, joined the company as president and CEO in January 2017 and hit the ground running.

In just two short years, the company has bought and built up two important gemstone projects.

In January of this year, Fura closed on the acquisition of the well-known Coscuez emerald mine located in Boyacá. The company bought the site with the goal of ramping up production and providing a more consistent supply of the material.

The site is now producing and Fura just released the results of a maiden mineral resources estimate, which predicts the mine could produce as much as 6 million carats in the next 30 years. 

The company expects to be selling the material by early next year. 

Fura also had a lot of activity in Mozambique. 

The company bought ruby mining licenses in Montepuez in July and August, giving it what it says is the largest ruby mining concession in the country and some of the highest-quality ruby licenses available in Mozambique.

It also meant that Fura and Gemfields are now the only large-scale ruby miners operating in Montepuez. 

It remains to be seen what affect this will have on Mozambican rubies and the ruby market overall as the country’s materials continue to play an even greater role in the gemstone sector. 


3. Greenland gems came fully online.

The supply chain for colored stones is constantly changing, and it’s always exciting to watch new sources develop and anticipate the effect they’ll have on the sector.

The government of Greenland found the right partner to mine its gems in Greenland Ruby. The company began production at Aappaluttoq, the country’s first corundum mine, last May and started looking for clients shortly thereafter.

Several designers have used the material in jewelry, including Erica Courtney and Victor Velyan, and this fall, the first full collection featuring Greenland rubies and pink sapphires launched at Danish retailer Hartmann’s Fine Jewellery.

The rubies and pink sapphires from Greenland not only come with an interesting story—sourced from a place with a striking landscape covered in ice—but also provide mine-to-market tracking of the gems, according to the miner. They also hit the market at a time when demand for rubies is stable and fancy color sapphires are hot.

Hartmann’s, for one, seemed to be excited about the Greenland gem collection.

Ulrik Hartmann told me there was a strong response before it was even released, and Greenland Ruby updated its social media just a month after the launch to report the Danish retailer had already sold out of its initial collection.

4. All eyes turned to Ethiopia.

Ethiopia was pulled back into the spotlight when emerald production began in 2016 at a new source located a little more than 300 miles south of the country’s capital, Addis Ababa, and it has remained there, for a few different reasons.

Though production at the new source started around August 2016 and there were, in fact, some Ethiopian emeralds at the 2017 Tucson gem shows, the effect of the new source and the excitement around it really hit during this year’s Tucson shows.

While a lot of the material emerging from Ethiopia has been commercial grade, there also has been some fine quality material, and I can speak from experience that it has a beautiful, vivid color.

The gems made quite an impact on the global emerald market.

Yet, Simon Watt of Mayer & Watt and GemWorld’s Stuart Robertson both told me recently that less material was available this year.

The country also made headlines in July, when Gemfields reported that a 300 to 500-person mob overran its mining operations there, forcing it to evacuate all employees.

Just a month later, Gemfields said its Ethiopian emerald exploration site had been looted, with the safe in the sort house ransacked and the emeralds in it stolen.

There’s a lot changing and evolving in the East African gem sector right now, and I’ll endeavor to make sure National Jeweler keeps up with what’s going on in Ethiopia in the coming year.



5. Source countries fought for more control. 

A notable trend likely to affect the accessibility of gemstones to the trade involves the governments of source nations working toward greater control over their resources. 

In fact, tighter regulations designed to keep value in country through jobs and other economic benefits are becoming more of a norm, Robertson said. 

Take what’s happening in Tanzania, for instance. The country has instituted a ban on exporting rough in an effort to receive more benefits from the value of its gemstones. 

The Tanzanian government has called it a success, collecting much more in export revenues since enacting the measures.

On the flip side is the effect on the local miners and foreign buyers, since the country isn’t set up to cut the amount of gems being produced; miners struggle to sell their materials and foreign buyers are no longer able to buy rough and export it themselves. 

This is a common theme in several of the countries where the governments are considering making similar moves, according to Robertson: a lack of infrastructure to support in-country processing and cutting.

But it’s something the trade will have to address because it appears this is movement is here to stay.
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Bergman Jewelers family
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 Years

The independent jeweler first opened its doors in 1888.

QVC Group Inc. logo
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.

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

Coconut Grove Jewelry & Watch Show
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in Florida

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

bench jeweler 1872x1052.png
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They Deserve

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

The Jewelry Symposium (TJS)
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor Shortage

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

Weekly QuizMar 27, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Peanuts x Monica Rich Kosann Collection Bracelets
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry Collection

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

Graphic for What Do We Mean When We Say “Recycled” Gold webinar
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?

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

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

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.

Mindi Mond Clarity Earrings
TrendsMar 31, 2025
Amanda’s Style File: Dripping in Diamonds

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

Lashbrook ring
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With Acquisition

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

Bulgari and LVMH Watches CEO Jean-Christophe Babin
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH Watches

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

Surveillance footage of robbery
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry Store

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

Nephrite and Jadeite by Heinrich Fischer, Richard W. Hughes
SourcingMar 28, 2025
19th-Century Jade Book Now Available in English

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

LÖF The Valentine Ring
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ Ring

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

Eggs on a shelf
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ Outlook

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

Richard Rainsford memorial ring
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction

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

Austin Butler
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand Ambassador

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

ICA Congress Brazil 2025
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress

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

Bailey’s Fine Jewelry storefront
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent Jeweler

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

Bulova 150 Art Deco Miss America Watch, 150 Art Deco Pocket Watch
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco Watches

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

Alex Wellen
MajorsMar 26, 2025
QVC Group Appoints New President

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

Jewelers of America’s new logo
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative

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

Christies regent kashmir sapphire and regal Burmese ruby
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat Ruby

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

Diamond earrings held in gloved hand
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft Recovered

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

Emmanuel Raheb CEO of Smart Age Solutions
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More Jewelry

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

Pomellato Nudo High Jewelry Campaign
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic Design

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

Jamie Singleton, Bill Brace, Rebecca Wooters, Bill Luth
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid Turnaround

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy