Gemfields Biggest Shareholder Makes Unsolicited Offer For Remaining Shares

Emerald and diamond necklace by Carolina Bucci using Gemfields Zambian emeralds 

Private equity company, Pallinghurst Resources, has made an unsolicited offer for the 53% of shares in Gemfields it does not already own. 

Pallinghurst, based in South Africa, specializes in investments in the mining sector. It is offering approximately $150 million in its shares for the remaining stake in Gemfields, a London-based colored gemstone mining and marketing company, making it a core component of Pallinghurst’s value. 

Pallinghurst’s offer doesn’t provide any added value to Gemfields, which it values at approximately $295 million.

Gemfields Board, in a statement to shareholders, “strongly advises … to take no action at this time.” However, Gemfields shareholders owning 28% of the company had already agreed to the offer, Pallinghurst says, giving it 75 percent backing and making the offer unconditional. 

Gemfields in its current form was created in 2008 when Pallinghurst and its co-investors contributed the Kagem emerald mine to Gemfields, its core operating asset, for shares. This transaction made Pallinghurst and its co-investors the majority shareholders of Gemfields. In 2013, Pallinghurst added the luxury brand, Fabergé, to Gemfields holdings, increasing Pallinghurst group’s direct ownership in Gemfields to the current level of 47.09%.

The strategy from the beginning was for Gemfields to become the “De Beers of the Colored Gemstone Industry” by creating a mine-to-market strategy for its responsibly sourced gems that could be traced throughout the supply chain and communicated to the industry and consumers. Part of this communication involves creating a grading system for determining emerald quality. 

Pallinghurst contends that Gemfields is “an attractive and unique business” but in its current structure is constrained by limited access to equity and debt capital, low share liquidity and high costs.

“Pallinghurst believes that, since its investment, the performance of the Gemfields share price has been disappointing and despite the major positive developments, Gemfields’ shareholders, including Pallinghurst, have not benefited appropriately,” Pallinghurst said in a statement. “The share price of Gemfields has not increased over the last decade.” 

Gemfields key holdings are: 

* 75% of the Kagem emerald mine in Zambia; 
* 75% of the Montepuez ruby mine in Mozambique; 
* 50% of the Kariba amethyst mine in Zambia; and 
* 100% of Fabergé Limited. 

Once gaining full control of Gemfields, Pallinghurst will delist Gemfields from the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange for smaller, less-viable companies, and take it private, at least for the time being. Pallinghurst is listed on the Johannesburg Stock Exchange (JSE) and the Bermuda Stock Exchange (BSX) and it said it would consider listing Gemfields on the LSE.

Pallinghurst, in order to create profitability for Gemfields, said it would do the following: 

* Focus on Gemfields’ core emerald and ruby operations in Zambia and Mozambique, respectively, and develop these to optimal scale;
* Accelerate the development of its existing portfolio of projects to mitigate the dependency on its attractive, but cyclical assets;
* Explore strategic alternatives for Fabergé, where significant growth capital is still required to reach its full potential; and
* Pursue cost reductions across the enlarged group.

Gemfields sells its rough gems through international auctions, which Pallinghurst says has “brought a level of professionalism and transparency previously not seen in the industry.” With its proprietary grading system for gems, Gemfields developed three auction classes, one offering higher quality gemstones, one for the larger volume of lower quality gemstones and the last offering mixed quality gemstones.

Pallinghurst said acquiring all of Gemfields would allow it to collapse its investment structure and simplify its management arrangements.

“The result will be a renewed Pallinghurst with a simplified operating model and an in-house management team,” Pallinghurst said in a statement. “The value of the underlying assets will be more clearly demonstrable with clearer earnings and operating metrics that can be benchmarked against industry peers. The revised structure model will allow Pallinghurst to rationalize costs across the group by simplifying the group's structures.”

The statement continued, “Post completion … Pallinghurst expects to have an enlarged market capitalization, improved trading liquidity and equity broker coverage. The board of directors of Pallinghurst believes that the combination of these factors should be value accretive for all shareholders.” 

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The Marcial de Gomar Collection Of Emeralds To Be Auctioned This Month

Perhaps the most valuable private collection of emeralds is set to go on the auction block and it just got better with a rare pair of "cat's eye" emeralds. 

The sale of the Marcial de Gomar Collection of rare emeralds will be held at the Americas Society at 680 Park Ave. with online bidding at www.liveauctioneers.com. Guernsey’s auction house of New York will host the sale, which will be held April 25 at 7 p.m.

The Marcial de Gomar Collection includes more than 20 loose cut and rough emeralds, 13 pieces of emerald jewelry, and a selection of rare gold and silver coins. The collection belongs to Manuel Marcial de Gomar, who has more than 50 years in the emerald business, spanning from the legendary Muzo mines of Colombia to the U.S. retail market. His knowledge of rare emeralds has placed him in demand as an author, lecturer and consultant. While his family continues their involvement with these gems through the Marcial de Gomar Emeralds International retail and wholesale business in Key West, Fla., it is Mr. Marcial's lifelong personal collection that is being sold.

Featured lots include the following: 

The 887-carat “La Gloria,” the fourth largest known rough Colombian emerald from the Muzo mine. Its estimate is $3 million - $5 million. 

The newest addition to the auction is a matched pair of emeralds featuring the extremely rare cat’s eye emeralds, with a total weight of 74.52 carats. They were cut from a single 370-carat trapiche emerald (an emerald with rare six point radial pattern) and are believed to be the largest matched pair of Colombian cat’s eye emeralds in the world. Their combined estimate is nearly $2 million. 

Perhaps the most important piece in the collection is the Marcial de Gomar Star, the largest of only 11 star emeralds known to exist and perhaps the first of its kind as a double-sided star emerald, according to the auction house. Its estimate is $2 million - $3 million.

With a combined weight of 95.51 carats, the Tears of Fura is an extremely large and well-matched pair of fine teardrop shaped Colombian emeralds from Muzo mines. They have a combined estimate of $3 million - $4 million.

The Corona de Muzo necklace, centered with a 24.34-carat emerald from the famed shipwreck, the Nuestra Senora de Atocha. The gem is set in a 22k and 18k gold with crown details, featuring additional baguette and round cut diamonds and round cut emeralds. Its estimate is $5 million - $6 million.

Treasure hunter Mel Fisher selected Mr. Marcial to be the independent appraiser of all emeralds recovered from the Atocha. As payment he received a selection of emeralds from the world-famous wreck. A number of gold coins from the 1715 Fleet shipwreck are also part of the sale.

The entire collection will be presented to the public for the first time at the auction. 

Viewings will be held April 23, 1 p.m. – 6 p.m.; April 24, Noon – 7 p.m.; and April 25, Noon – 7 p.m. 

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Miners Partner With Designers To Create Sustainable Jewels

Emerald and diamond necklace by Carolina Bucci using Gemfields Zambian emeralds 

Two London-based mining companies worked with jewellery designers to create new pieces that promote the sustainable and humane practices of the mines they operate. Another key selling point is provenance, knowing which mine the gems were unearthed.

London-based mining and marketing company, Gemfields, worked with MUSE, a New York showroom for emerging and established fine jewellery designers, for a collection of limited-edition and well-priced jewels. Designers Carolina Bucci, Dezso by Sara Beltrán, Elena Votsi, Holly Dyment, Michelle Fantaci, Nikos Koulis, Savannah Stranger, Silvia Furmanovich, Yossi Harari and AYA by Chelsy Davy unveiled a range of jewels at the Couture Show using Mozambican rubies and Zambian emeralds from Gemfields’ mines in those two countries.

“Rose Petal” earrings by Silvia Furmanovich using Gemfields Mozambican rubies

Most styles are based on each of the designers’ bestsellers, recreated with Gemfields rubies and emeralds. The collection is for everyday wear targeting a fashion-forward consumer, with the majority of the limited production collection falling within the $1,000 and $10,000 price range (with the exception of a few high value statement pieces).

This type of approach isn’t new for Gemfields. The company has been producing collections through partnerships with designers (experienced and emerging) for a number of years. The difference with this particular collection is its affordability.

Ruby and diamond “Crisscross” ring by Yossi Harari using Gemfields Mozambican rubies

“Having done collaborations at both ends of the spectrum, we see the alignment with MUSE as the perfect opportunity to showcase the versatility of color and connect with a fresh new audience,” said Gabriella Harvey, Gemfields director of Procurement and Product Services.

18k yellow gold and diamond earrings by Suzanne Kalan with diamonds from Rio Tinto’s Argyle mine

Mining giant Rio Tinto used unveiled their “Diamonds with Story” collection, working with six US designers: Paige Novick, Xiao Wang, Jennifer Dawes, Matthew Campbell Laurenza, Suzanne Kalan and Sandy Leong. All of the diamonds are sourced from Rio Tinto’s Argyle Mine in Western Australia. The mine is most famously known for its rare Argyle pink diamonds. However, diamonds being used for the collections are primarily white and champagne.

The “Infinity’ three row curved ring by Paige Novick with diamond pave from Rio Tinto’s Argyle mine

Like Gemfields, affordability is important with these creations. Unlike Gemfields, all of the designers are experienced and well-known to the trade and consumers.

18k yellow gold band, 6g, .53ctw rose cut cognac diamonds, .05ctw round brilliant cut diamonds by Jennifer Dawes using Rio Tinto diamonds from its Argyle mine

“Increasingly, the value of a diamond is tied to where and how the diamond was mined, how it was cut and polished, and the process of bringing it to sale,” said Bruno Sané, general manager of marketing for Rio Tinto Diamonds. “This is a very reasonable expectation that is steadily reshaping the diamond industry for the better.” 

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Jacob & Co. To Exhibit ‘Magnificent Timepieces & Jewels’ In Monaco

75.54-carat fancy vivid yellow radiant cut diamond ring

It’s becoming an anticipated part of the Monaco social calendar. Jacob & Co., the New York-based luxury jeweler and watchmaker, will host its fourth annual “Magnificent Timepieces & Jewels” exhibition August 4 – 22 at the Salle Belle Époque ballroom of the Hotel Hermitage.

The exhibition is being presented by Stardust Monte Carlo, a longtime Monaco-based luxury jeweler. Among the highlights:

* A 75.54-carat fancy vivid yellow radiant cut diamond ring set in platinum and an 18k yellow gold mounting (top photo). 

* The public premiere of the Caviar Emerald Tourbillon, a timepiece with 425 invisibly set baguette cut Zambian emeralds totaling 32.39 carats. The emeralds for the 47 mm watch took two years to acquire. Creating the invisible settings for the emeralds took another year to achieve. 

* An 18k rose and white gold ring set with a 48.27 carat natural oval shaped Paraiba tourmaline surrounded by black, pink and white brilliant cut diamonds totaling 2.95 carats.

* An 18k rose gold cocktail ring centered with a 46.64-carat orange sapphire surrounded by pink and white diamonds totaling 2.89 carats.

* A necklace made of 16 natural Colombian briolette cut emeralds totaling 156.47-carats set in 18k white gold and highlighted by diamonds.

The exhibition will support Only Watch, a biennial auction benefiting muscular dystrophy research. Jacob & Co has created unique items for the charity that will be unveiled for the first time during the exhibition. There also will be an invitation-only gala cocktail reception, at the terrace of the Salle Belle Époque on August 6. 

The exhibition will be open to the public from 5 pm till 11 pm daily, with private viewings offered to the brand’s top clients.

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Sultan of Brunei’s Son Is Married in Gold, Diamond and Emerald Splendor, Video and Pictures

Photo credit: The Brunei Times

The Sultan of Brunei, Hassanal Bolkiah, one of the wealthiest men in the world, showed off his abundance in an extravagant wedding for his youngest child, Prince Abdul Malik, held Sunday in the throne room of the Monarch’s 1,788-room palace. It was the highlight of a 10-day wedding celebration that ended April 15. 

The 31-year-old prince and his new wife, Dayangku Raabi'atul 'Adawiyyah Pengiran Haji Bolkiah, were officially presented to dignitaries around the world in gold, diamond and emerald splendor. 

Photo credit: The Brunei Times

According to the Daily Mail and other media outlets, the couple wore matching outfits made of gold. The outfit of the 22-year-old bride, reportedly a former data systems analyst, was studded with diamonds and large emeralds. She wore a sparkling diamond tiara embedded with six large pear-shaped emeralds along with a large diamond necklace with at least 15 emeralds of various sizes and what appears to be a diamond and emerald bracelet on each wrist and at least one diamond emerald ring. 

Her bouquet, instead of flowers, was made of gems and precious metals in the shape of flowers. She reportedly wore Christian Louboutin shoes encrusted with Swarovski crystals and finished with a gold ankle bracelet.

Her translucent veil was topped with a second diamond tiara, set with rubies and a scarlet gem in the center. She also reportedly had a second diamond rope-like necklace. 



This doesn’t count the gold and diamond embellishments worn by the prince nor the gold in the throne room where the couple were officially married. 

For the banquet following the wedding service, the bride wore a beaded purple gown and a diamond necklace and crown set with rubies.

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Colorful Louis Comfort Tiffany Antique Jewelry Suite Fetches $161,000 at Bonhams

Photo credit: image courtesy of Bonhams

A rare antique jewelry suite of sapphire, demantoid garnet and enamel attributed to Louis Comfort Tiffany sold for $161,000 (including premium), soaring past its high estimate at Bonhams Fine Jewelry auction in New York.

The suite, created for Tiffany & Co., circa 1920, is led by a pendant centered by an oval, irregularly-domed cabochon sapphire. It sits within a scrolling frame suspending a flexible swag, accented by circular and oval-cut demantoid garnets and sapphires, highlighted by enamel floral sprays and suspended from a chain of floral links. It is completed by a box clasp set with circular-cut sapphires, pendant earrings en suite; chain and pendant earrings.

Photo credit: image courtesy of Bonhams

The top lot of the evening was an 8.45-carat Cartier diamond ring (pictured above). The rectangular step-cut diamond within a pierced and openwork pavé-set diamond surround sold for $293,000. 

Despite being the top lot, the diamond ring must have felt a bit lonely at the sale dominated by rare sapphires, emeralds and other colored gems. As a signed piece, it was among many that were in high demand at the December 8 sale, which realized $4.1 million. 

“More contemporary signed jewels continue to thrive in the auction environment,” said Susan Abeles, VP and director of the Jewelry at Bonhams North America, “The sale was dominated by colorful estate property which was well received by an international audience.”

Other highlights of the sale include:

Photo credit: image courtesy of Bonhams

* A 3.2-carat Kashmir sapphire and diamond ring that fetched $118,750, almost twice the high estimate.

Photo credit: image courtesy of Bonhams

* A sapphire and diamond brooch with a diamond weight of 6.85 carats, which realized $112,500, nine times the high estimate.  

Photo credit: image courtesy of Bonhams

* A Colombian emerald and diamond ring, featuring a large emerald cabochon weighing approximately 50 carats surrounded by diamonds. It achieved $106,250, over 3.5 times the high estimate.

* A late Art Deco ruby and diamond bracelet, circa 1935, with a total diamond weight of 14.00 carats, which sold for $106,250, well past its high estimate.

* Natural button pearl diamond ear studs, each over 10mm, realizing $45,000, close to 6.5 times its high estimate. 

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Graff Honors Paris With Two Statement Jewels For La Biennale

Royal Star of Paris

The Biennale des Antiquaires at the Grand Palais in Paris hosts some of the top high jewelers in the world who release special collections every two years just for this event. Graff Diamonds marks its return to the show by unveiling a new collection led by two statement jewels centered by standout diamonds and gems: the “Royal Star of Paris,” and “Le Collier Bleu de Reve.”

The Royal Star of Paris, a brooch (which also can be worn as a pendant) has two diamonds of at least 100 carats each: the “Graff Sunflower,” a 107.46-carat fancy yellow cushion cut diamond and the “Graff Perfection,” a 100-carat D flawless pear shape diamond drop.

“We create legendary stones with remarkable stories to tell, one such diamond is the Graff Perfection, Graff said. “Following many hours of painstaking work, we unleashed the true potential of an incredible 225 carat rough diamond, transforming it from perfection to ultra-perfection.”

Le Collier Bleu de Reve

Le Collier Bleu de Reve is set with a 10.47 carat fancy vivid blue internally flawless briolette diamond. The other key stone is a 4.22 carat untreated old-mine Colombian emerald. The central element of the jewel can be detached from the beaded diamond necklace and worn alone as a brooch.

“I truly believe that when you are searching for the perfect precious gemstone you should look for an emerald greener than green,” Graff said. “The emerald in this necklace really is greener than green and incredibly clear.”

The remaining pieces in the Biennale collection continue the theme of stone-led design; with brooches made of rare colored diamonds and gemstones, necklaces depicting natural motifs using gemstones, and designs with beaded tassels all complemented by bracelets and earrings.

All of the jewels, including the statement pieces, are hand-crafted at Graff’s London atelier.

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Gemfields Kagem Emerald Mine Showed Solid Annual Growth Despite Conflict With Zambian Government

Coomi 20K yellow gold with Gemfields’ Zambian emeralds, 120.34 carats and diamonds, 5.21 carats.

Production at the Gemfields Kagem emerald mine in Zambia increased 42 percent to 29.99 million carats for the 12-month period ended in June.

The average grade for the year increased 38 percent to 283 carats per ton, the company said Monday through the Proactive Investors website. Meanwhile, production costs fell 26 percent in the year.

Gemfields is a colored gemstone exploration, mining and marketing company. The Kagem mine is the London-listed company’s biggest asset and it provides nearly all of its revenue, even though it has interest in other colored gemstone mines. It owns a 75-percent share of the Kagem mine with the Zambian government owning the remaining 25 percent.

One of Gemfields other mines is the Montepuez ruby deposit in Mozambique. The company said it is on track to hold its first auction of rough rubies in the first quarter of 2014.

Gemfields also owns Fabergé, which it fully acquired in January. The company said the luxury jewelry brand achieved a record number of unit sales for the year.

A sale of lower quality emeralds in April netted $15.2 million, Gemfields said. Not included in the annual results was its latest auction of higher quality emeralds, held in the Zambian capital of Lusaka. This brought in revenues of $31.5 million, the second highest total ever for an auction of its kind.

The auction was originally scheduled in June in Singapore but pressure from the Zambian government to move the auction to Zambia caused the auction to be postponed until July, after the reporting period. Where to hold auctions has been a source of debate since April when the government of Zambia, Gemfields business partner, issued a directive for Gemfields to hold its auction within the country’s borders, citing capital flight.

Ian Harebottle, Gemfields CEO, said through Proactive Investors that communication between the two parties is now “much, much better” and more interactive.

However, Harebottle said the company continues “to seek guidance and to interact with the Government of Zambia.” Gemfields argues that it needs to sell Kagem emeralds at places that will likely get the most interest and the best price.

“While the two auctions held in Lusaka this year have certainly been successful, the key question, of course, remains what they would have generated had they been held abroad (where competing and undermining sources of supply, frequently illegal, are not readily available to our customers) and their potential impact on the long term growth of this sector,” he said.

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Gemfields Emerald Auction in Zambia Raises $31.5 Million

Gemfields spokesperson Mila Kunis.

Maybe holding emerald auctions in Zambia isn’t such a bad idea. The ongoing tug of war between the Zambian government and colored gemstone mining and marketing company, Gemfields, over where to sell Zambian emeralds hasn’t dampened demand.

Gemfields’ most recent auction of higher quality rough emerald and beryl from the Kagem mine in Zambia resulted in revenues of $31.5 million, the second highest total to date for the company. The average price per carat reached $54, the highest unit value achieved at any auction and a 26 percent increase over the previous highest value achieved in July 2011. In addition, a 54-carat rough gem, offered as a single lot, set a new per carat record for prices achieved at a Gemfields auction.

A total of 40 companies were invited to the auction held July 15 - 19 in the Zambian capital city of Lusaka and 37 attended, with 36 attendees placing at least one bid, Gemfields said in a statement Tuesday. A total of 583,448 carats of emerald extracted from Kagem was placed on offer, with all lots being sold. The auction format is how Gemfields chooses to sell its Kagem emeralds, which account for nearly all of the company’s revenue.

The auction was held in Lusaka at the request of the Zambian Ministry of Mines, Energy and Water Development. The government first issued the directive in April, which appeared to be a surprise to Gemfields. Particularly since the two entities are business partners, with Zambia owns a 25 percent stake in the Kagem mine with Gemfields owning the remaining 25 percent.

The government in a statement said the directive is designed to promote transparency and accountability in the marketing of emeralds, stimulate local demand for emeralds, create more opportunities for small-scale miners to have access to colored gemstone markets, and increase tourism.

“Zambian gemstones have for a long time been sold on foreign markets, a situation that has contributed to capital flight and denied Zambians of the much needed benefits from the resource,” Yamfwa Mukanga, Zambia mining minister, said in the original statement.

This is the second auction of Kagem emeralds held in Lusaka. It was originally scheduled to be held in Singapore June 10-14, but was postponed and rescheduled to Lusaka due to government pressure.

Gemfields insists that it needs to sell Kagem emeralds at places that will likely get the most interest and the best price in order to compete with other emerald hubs, such as Colombia and Brazil. With the most recent sale showing such strong results the government seems to have the upper hand in this argument.

In a statement, Ian Harebottle, CEO of Gemfields, credited “favorable market conditions and particularly strong demand from our customers” for the strong results. “All indications show that demand for colored gemstones, and especially emeralds, will continue to increase at a steady pace over the coming year.”

Gemfields said its 13 auctions held since July 2009 have generated $207.3 million in aggregate revenues.

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Zambia Restriction on Gem Sales A Major Setback for Gemfields

Mila Kunis in a Gemfields ad.

The Zambia Ministry of Mines, Energy and Water Development issued a directive Friday stating that all auctioning of emeralds be held in Zambia, arguing that their sale in foreign markets contributes to capital flight. The timing of this order has dealt a major blow to the emerald ambitions of Gemfields, which operates what is believed to be the world’s largest emerald mine in Zambia.

The government in a statement said the directive is designed to promote transparency and accountability in the marketing of emeralds, stimulate local demand for emeralds, create more opportunities for small-scale miners to have access to colored gemstone markets, and increase tourism.

“Zambian gemstones have for a long time been sold on foreign markets, a situation that has contributed to capital flight and denied Zambians of the much needed benefits from the resource,” Yamfwa Mukanga, Zambia mining minister, said in the statement.

The move seemed to have come as a surprise to the London-listed company and the markets. Gemfields shares fell 16 percent Monday after the government announcement. In the past, Gemfields held its emerald auctions in other locations, including Singapore and in Jaipur, India. The next auction of its emeralds was already planned to be held in Zambia’s capital city of Lusaka from April 15 - 19.

The company is in partnership with the country of Zambia, which makes this seemingly sudden announcement more difficult to understand. Gemfields owns a 75 percent stake in the Kagem emerald mine with the government owning the remaining 25 percent. In addition, the two parties own a 50-50 stake in the Kariba amethyst mine, which will also be affected by the outside selling ban.

“Not allowing Gemfields to auction abroad is going to take us out of the competition with Brazil and Colombia, which holds 30 percent each of the world's supply of emeralds,” Dev Shetty, Gemfields COO, told Reuters.

The company that wants to do for emeralds what De Beers did for diamonds in the 20th Century recently had a string of marketing successes. It signed actress Mila Kunis as its ambassador; released an emerald-specific colored gemstone jewelry line made by independent jewelry designers ranging from Theo Fennell and Stephen Webster, Shaun Leane and Alexandra Mor; and finalized the acquisition of luxury jeweler Fabergé.

Since 2007, Gemfields has been creating a mine-to-market initiative for its emeralds using the Kagem mine as a single, traceable source for its emeralds. In addition, it is working on a program to mine its emeralds in adherence to fair-trade practices and in accordance with environmental, social and safety standards.

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Mila Kunis Featured in Global Advertising Campaign for Gemfields

Mila Kunis, recently named “Sexiest Woman Alive,” by Esquire, is the newest ambassador and the face of the latest advertising campaign for colored gemstone producer, Gemfields.

In a statement Gemfields said that Kunis was chosen “for her natural beauty, versatility, intelligence and love of rare colored gems.”

Gemfields primary business is the mining, distribution and marketing of emeralds from the Kagem mine in Zambia. It is working to produce a mine-to-market strategy for their emeralds that it says will be ethical, transparent and sustainable. The company recently acquired Fabergé, and is supplying the luxury brand with Kagem emeralds for its newest creations. Both companies are controlled by Pallinghurst Resources, a private equity company focused on the mining sector.

The advertising campaign with Kunis is photographed by Mario Sorrenti and styled by Anastasia Barbieri, featuring “a fresh-faced and modern Kunis wearing one-of-a-kind emerald and ruby jewelry created by six of Gemfields’ designer partners: Alexandra Mor, Amrapali, Dominic Jones, The Gem Palace, Sutra and Fabergé.”

Kunis toured Kagem, accompanied by Ian Harebottle, Gemfields CEO, and visited several Gemfields-sponsored community projects, including schools and a farming cooperative.

“While in Africa, I learned that the entire journey that each Gemfields stone takes is carefully considered and that the environment and the local communities where its mines are located are held in the highest regard,” said Kunis.

“Mila has blown me away with her energy, enthusiasm and dedication,” Harebottle said.

The global advertising program is running in leading publications in India and is part of a several initiatives in a multi-pronged consumer campaign that Gemfields will roll out this year.

The Kagem mine also produces amethysts. Gemfields other business include a mine in Mozambique for rubies, and prospecting licenses for other gemstones in Madagascar.

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50-Carat Diamond to Lead Christie’s Upcoming Auction

Diamond ear pendants, 52.78 cts. and 50.31 cts. (117.04 cts total with surmounts). Estimate: $4.5 million - $6.5 million.

Christie’s first sale of the fall jewelry season will include three diamonds of more than 50 carats each and a rare double strand of large natural pearls.

The two-session sale on October 16 at Christie’s Rockefeller Center saleroom also includes signature jewels, rare gemstones and more statement diamonds among its 372 lots. It is expected to achieve more than $35 million.

The top colorless diamond in Christie’s New York Magnificent Jewels sale is a pear-shaped D-color flawless diamond of 50.52 carats with excellent polish and symmetry. The stone is mounted in platinum and may be worn suspended from a necklace with a 2.28 carat, circular-cut D-color diamond surmount. The estimate is available on request.

Among the colored diamond highlights is an oval-cut fancy intense yellow, internally flawless diamond of 68.35 carats with excellent polish and symmetry. It has an estimate of $2.2 - $3.2 million.

In addition, a pair of diamond ear pendants brings together a pear-shaped fancy yellow diamond of 52.78 carats and a pear-shaped white diamond of 50.31 carats surmounted by circular-cut fancy yellow and white diamonds Mounted in yellow and white gold, the pendants may be easily swapped or detached completely, giving the owner three options for how to wear them. Its estimate is $4.5 - $6.5 million.

The double strand natural pearl necklace is formed of 120 large-sized individual pearlsRanging in size from 6.50 mm to 12.25 mm in diameter, the pearls range in coloration from white to light cream, with subtle rosé and green overtones and superb luster. It is accented with a 3-carat, D color diamond clasp signed by Cartier. Its estimate is $2.8 – $3.5 million. The auction house said it is “one of the finest to come to auction at Christie’s in the last five years.”

The sale will 130 signed jewels by Buccellati, Bulgari, Cartier, Graff, Marina B., Oscar Heyman & Brothers, Tiffany & Co., Van Cleef & Arpels, David Webb, Harry Winston and Raymond Yard.

Among the highlights of iconic design is a “honeycomb” motif ruby and diamond bracelet by Van Cleef & Arpels. Crafted from hexagonal-cut rubies and diamonds, the gems are set using the firm’s trademark “mystery-set” technique which eliminates any visible prongs from the surface of the bracelet. Its estimate is $100,000 - $150,000)

The sale also includes a selection of jewels by Marina B, granddaughter of Sottiro Bulgari. The sale features a number of her designs accompanied by their original renderings, including a ruby and gold “Simona” bangle set with a shield-shaped fancy yellow diamond (estimate: $50,000 - $70,000), a “Georgina” ring featuring an oval-cut ruby of 10.54 carats (estimate: $200,000-300,000) and a pair of diamond, amethyst and pink tourmaline “MBC” ear pendants (estimate: $25,000-35,000).

One-of-a-kind creations by the Indian designer Viren Bhagat are among the most coveted of contemporary jewelry designs on the auction market today. As a special fundraising item within the sale, Christie’s offering a pair of “flower blossom” pearl and diamond ear clips by Bhagat (estimate: $30,000-50,000). The sale will benefit the Salaam Bombay Children’s Fund, a decade-old organization that works with disadvantaged children across India to empower them with opportunities and skills that enable them to make the right choices for their health, education and livelihood.

Others sale highlights include:

* Pear-shaped diamond ring of 10.05 carats, D color, internally flawless. Estimate: $1 million – 1.5 million.

* Pear-shaped fancy light pink diamond ring of 10.52 carats by Galt. Estimate: $900,000 – 1.1 million.

* Pair of pear-shaped diamond ear pendants of 6.94 carats and 6.79 carats. Estimate: $600,000 – $800,000.

* Colombian emerald and diamond ear pendants of 22.12 carats and 21.47 carats by Van Cleef & Arpels. Estimate: $600,000 – 800,000.

* Cushion-cut Burmese sapphire diamond ring of 32.31 carats. Estimate: $350,000 – $500,000.

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Black and White and Green All Over, Ivanka Trump Jewelry Adds Color

The introduction of emeralds to the 'Lao Tong' brings color to a jewelry brand known for its black-and-white pieces.

LAS VEGAS — It had to happen sometime. The brand that is making its mark creating black and white jewelry inspired by early 20th Century design has added color to one of its newest collections, released during the JCK Luxury tradeshow.

Ivanka Trump Fine Jewelry introduced sparkling emeralds to its new “Lao Tong” collection, inspired by the movie “Snow Flower and the Secret Fan” produced by Ivanka’s friend Wendi Murdoch. The story depicts two seven year old girls matched as laotong, or “old sames,” bounding them together for eternity. “It’s like the Chinese BFF,” said Andrea Hansen, CEO of Ivanka Trump Fine Jewelry.

In the collection, classic fans were re-imagined with black onyx and white diamonds, black enamel, complimented by emeralds and set in 18k white gold. The collection ranges from $5,000 to $70,000. Some of the higher-end pieces are one-of-kind and others are limited edition.

“It was great to find a way to bring in color,” Hansen said in the Ivanka Trump exhibition space at the Mandalay Bay Convention Center.

The brand also introduced two other collections at the show: “Belle Epoque” and “Gilded Cage.”

Fans, such as these made of mother-of-pearl, are a recurring theme this year, such as these fan and bow earrings from the 'Belle Epoque' collection.

Meaning “beautiful era” in French, Belle Epoque draws inspiration from the era of the same name in late 19th century, early 20th century Paris, reflected in the jewelry designs of soft bows, mother-of-pearl fans, pave diamonds, and white-on-white color schemes. Pieces are set in 18k white gold and paired with precious stones such as mother-of-pearl and diamonds. Prices range from $2,600 to $16,500.

“The fan is a recurring theme in this year’s collection. It is a ladylike accessory in the period of our inspiration,” Hansen said. “You can think of women in the ‘40s and ‘50s with beautiful handheld fans and that’s where that flair comes from.” 

Black onyx wrapped in diamond pave threads from the Gilded Cage collection.

Gilded Cage is a play on words that takes its inspiration from the Gilded Age era, which was known for expansive growth in wealth and the use of jewelry as a status symbol. Bold gemstones such as white agate and black onyx cabochons are wrapped in 18k white or yellow gold strands with diamond pave. Wrapped gems were popular during the Las Vegas tradeshows this year. Prices range from $2,900 to $10,000.

“We do really well with this kind of classic cabochon ring, our number one ring in the collection is our cabochon ring from our Black and White collection and it’s always good to add new styles in a category that is so strong,” Hansen said.

Gemfields Kagem Mine Posts Stong Gains

Miners at the Kagem emerald mine in Zambia. Photo credit: Gemfields

Mining company Gemfields has reported record annual production from its emerald mine in Zambia with a jump in grades per ton and a cut in production costs.

In an operational update for its fourth quarter and full year to June 2011, the company says annual production increased 90 percent to 33 million carats versus the previous year, as reported by the Proactiveinvestors financial news service. Gemfield's 75 percent owned Kagem mine in Zambia—the single largest emerald mine in the world. It is currently the company’s only operating emerald mine. The mine debt free, the company said.

Grade for the year came in at 478 carats per ton versus 286 in prior year, and per carat production costs were reduced by 41 percent to 43 cents per carat, according to the report. Rock handling costs for the year fell 25 percent to $3.70 per ton.

The final quarter of the year alone produced 10.8 million carats at a grade of 500 carats per ton and a unit cost of 32 cents per carat.

At its recent July auction of high quality rough emeralds, the company placed 1.07 million carats and successfully sold 740,000 carats to generate record sales of $31.6 million. Per carat prices at the July 2011 sale improved by 63 percent to 42.71 per carat, compared with its December 2010 auction.

So far, the company said it has completed seven auctions in the past two years, generating total revenue of $87.5 million.