Rishabh Tongya, Founder and Chairman, Gemrock is no stranger to the world of colour gemstones. Having had an illustrious background in gemstone cutting and polishing, along with Diacolor, a fine & contemporary jewellery brand under his portfolio, establishing a colour gemstone mining business was an organic progression. “We are confident about a consistent supply of high-quality rubies from our mine and of course, colour gemstone mining is one of the most lucrative sectors in the jewellery industry today as the demand for top-quality stones is on an incline,” says Tongya.
Gemrock is a gemstone exploration focused company, which came into being in 2017. It has presence in various mining sites across the world, but supply from Mozambique is the first one which will be brought forth to the market. “We are having our inaugural auction in the coming week in Bangkok. We see Gemrock becoming one of the leading suppliers of colour gemstones to the world,” adds Tongya.
This auction is for anybody who is a dealer or a cutter looking to source secondary, fine-quality Mozambican rubies. “We are offering a great range of rough inventory in various shades of red, ranging from dark red to pinkish red as well as rubies with purple and orange tones. This auction will also be a great platform for top watch manufacturers, as we have a range of small-sized rubies in top colour and saturation. We will also have on offer large-sized rubies for investment purposes.”
The gemstone mining sector still has a big vacuum in terms of consistent supply. “There isn’t much professional expertise and sincere capital in this space and we at Gemrock aim to bring that. All the top jewellery brands and retailers in the world today rely on a consistent supply of high-quality gemstones and as a company we want to give them that security of steady supply.”
Historically, rubies have been mined for over hundreds of years and the demand for gem-quality rubies with intense colour and saturation has always been high, more so after the pandemic, as collectors have come to realise the investment potential in these gemstones. “In the past decade, there has been a shift in both demand and supply when it comes to rubies – the awareness about the product has increased drastically. I see Mozambican rubies having monopoly for the next 15-20 years at least.”
Ethical mining, social responsibility and sustainability have become important metrics for a mining company’s success. “I don’t think a successful mining operation can exist without paying heed to these aspects. At Gemrock, we believe in giving back to the community around, by employing them and giving them the due economic benefits. 90% of Gemrock’s workforce constitutes the local community and we are also very thankful to the Mozambican government for having given us the necessary support and a conducive environment. There is no compromise in terms of where and how these gemstones are sourced. Gemrock upholds best practices and believes in sticking to the global benchmark, through and through, from mine to market.”
"We are offering a great range of rough inventory in various shades of red, ranging from dark red to pinkish red as well as rubies with purple and orange tones. This auction will also be a great platform for top watch manufacturers, as we have a range of small-sized rubies in top colour and saturation. We will also have on offer large-sized rubies for investment purposes.”