Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...


Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 2018

Fura Gems Inc. aims at expanding the coloured gemstone business in India

23 april 2018

Fura Gems Inc is aggressively looking at organizing the $2 bn gemstone market globally and is targeting a market share of 8% - 10% in the next 3 years. The company also announced the commencement of its bulk sampling program at the Coscuez emerald mine in Boyacá, Colombia. This will give a tremendous boost to Fura Gems’ operations in India since 60% of the world's emeralds are cut and polished in the country.
Dev Shetty, President & CEO of Fura Gems, commented, “As a part of our larger expansion strategy, India is one of the top 3 markets for us. We are aggressively looking at the Bunder diamond project in Madhya Pradesh and projects in the states of Jharkhand and Odisha which have a huge potential in terms of mineral deposits. Given our experience, we are confident of reducing India’s coloured gemstones imports substantially.”
Rupak Sen, Vice President, Marketing & Sales of Fura Gems, said, “India is the largest cutting and polishing centre for Emeralds in terms of volume. There is a growing demand for emeralds in the Indian market and we intend to capitalise on the same by strategically organizing the sector.”
Fura Gems owns a 76% beneficial interest in the Coscuez Emerald Mine. During the initial phase of bulk sampling, a total of 1,720 carats of emeralds were mined, out of which 826 carats were high-quality emeralds. The Fura Gems management team has started designing the pilot wash-plant and expects it to be commissioned on or before 30 June 2018.
Dev Shetty further added, "Fura Gems has now become the first publicly listed company in the world to commence a bulk sampling operation in Colombia, the world’s largest supplier of emeralds. We have also entered into agreements to acquire four ruby licences in Mozambique and have started with the exploration process and will soon be coming up with more details on that. Fura Gems owns 80% effective interest in these Ruby licenses.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished