A bit of market analysis by Edison says small-scale artisanal mining makes up 70-80% of colored gemstone manufacturing. The fragmented market leaves few massive firms to “champion and actively market colored gems, as De Beers did for diamonds”.

“The artisanal nature of the market additionally deters designers from utilizing colored gems of their ranges, fearing inconsistencies in provide frequent to small mines,” Edison says.

“The numerous proportion of mines working in international locations with greater ranges of political threat – akin to Myanmar – may add to provide volatility.”

Edison says the dominance of artisanal producers means there are quite a few small specialist operations extracting colored gems. “For instance, in Israel Shefa Gems just lately discovered a stone with distinctive properties that it calls the Carmel sapphire,” it says.

“That stated, there are some notable gamers with robust and moral monitor data out there.

“Chief amongst them is Gemfields, which owns 75% of the world’s largest emerald mine, Kagem, and 75% of Montepuez, the world’s largest ruby mine.

“Fura Gems can be notable and set to interrupt into the Australian sapphire market after it struck an possibility take care of Richland Assets for its Capricorn challenge within the nation’s north-west. That is along with its in depth ruby exploration challenge in Mozambique and its acquisition of the well-known Coscuez mine in Colombia.

“After its acquisition of the Regius group and its six licences in February this 12 months, Gemrock can be a big participant and is the second-largest ruby miner in Mozambique after Gemfields.”

Edison says whereas De Beers’ dominance of the diamond market has produced standardised procedures and the Kimberley Course of that stops battle diamonds from getting into the availability chain, the colored gemstone market “nonetheless lags” on this space.