The coloured gemstone industry is at a very different stage
compared to the diamond industry. Gemfields is one of
few large-scale mining companies within the coloured
gemstones industry and we strive to improve transparency
and reporting across the sector.What prompted Gemfields to come
out with the Global Emerald & Ruby
Supply: Analysing Market Data
report?
Gemfields is a world-leading miner
of responsible coloured gemstones, and
we launched Global Emerald & Ruby
Supply: Analysing Market Data with
the aim of furthering the understanding
of the industry through more
transparent and available data relating
to international coloured gemstone
supply. To our knowledge, it is the first
report about coloured gemstone rough
production
Why is there so little data about
colour gemstones, when compared
with diamonds?
The Global Emerald & Ruby Supply:
Analysing Market Data report draws on
data from a variety of sources – from
production and extraction reports to
export data. Challenges arise given
the distinct lack of available data. The
vast majority of coloured gemstones
are extracted by artisanal mining, both
formal and informal, for which scant
reporting standards exist.
In addition, coloured gemstones often
originate from countries that do not have
strong reporting standards. The data
that does exist can be inconsistent in
terms of gemstone forms – for instance,
rough versus cut-and-polished – and
units of measurement, with some export
and production data presented in terms
of quantity (which can be stated in
kilograms or carats), and some in value,
(typically stated in US dollars), but rarely
with both weight and value together.
This presents a significant issue, as
gemstones vary tremendously in value
depending upon their quality, which is, in
turn, determined by subtle variations in
factors, such as clarity and colour, as well as by their weight.