“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

17 june 2019

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

Gemfields announces auction results held in Singapore

22 may 2019

news_22052019_Gemfields.pngGemfields announced the results of an auction of higher quality rough emeralds held in Singapore from 14 – 17 May 2019. The emeralds were extracted by Kagem Mining Ltd in Zambia (“Kagem”, which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia), says a press note from the Gemfields.
The statement said that the proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction
The auction saw 45 companies placing bids and generating total revenues of $22.4 mln with an overall average value of &71.85 per carat, an all‐time record for any Gemfields emerald auction. The auction saw 72% of the offered carats being sold.
The specific auction mix and exact quality of the lots offered at each auction vary in characteristics such as size, colour and clarity on account of variations in mined production and market demand. 
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented: “As the results of this auction show, we continue to see encouraging signs of recovery in the emerald sector.
We congratulate Chatree Gems of Thailand – one of our firmly established ruby auction customers. They won three lots of fine quality emeralds, including the top lot comprising two exceptional gems weighing a total of 62 carats, and which set a new record price per carat for Zambian rough emeralds at a Gemfields auction.”

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