Gemfields, a global leader in coloured gemstone mining, has released a comprehensive new report titled Understanding the Global Supply of Emerald, Ruby, and Sapphire. This report aims to provide updated insights into the coloured gemstone market, highlighting key findings and objectives that focus on supply dynamics and market transparency.
The latest research expands on the company’s previous study, adding detailed analysis on sapphires and including new data sources through collaborations with miners, associations, cooperatives, and consultants. Despite the broadened scope, the report underscores ongoing issues with inconsistent data and the challenges of achieving transparency within the industry.
Sean Gilbertson, CEO of Gemfields, remarked, “This second in-depth study into emerald, ruby, and sapphire supply marks significant progress but also highlights how much work remains in ensuring transparency and meeting the expectations of consumers.”
Lauriane Pinsault, the report's author and CEO of GeoGems, stressed the importance of the new research, stating that it reveals the significant gaps in data and resistance from some industry players to collaborate. Nevertheless, she affirmed that the report provides one of the most reliable analyses of coloured gemstone production to date.
Expanding the scope from previous research, the new analysis includes data on artisanal and small-scale mining (ASM) activities, which were previously underreported. By collaborating with multiple stakeholders, the study now provides a more accurate estimate of ASM’s share of the global gemstone supply, shedding light on previously undocumented production.
The research relies on data from miners, mining associations, consultants, government statistics, and leading publications like Gems & Gemology, Journal of Gemmology, and InColor. It also incorporates reports from the United States Geological Survey (USGS) and the Extractive Industry Transparency Initiative (EITI), offering a broader perspective on the global gemstone sector.
Gemfields remains a strong advocate for transparency within the coloured gemstone industry, encouraging producers to publish their G-Factor for Natural Resources annually. This metric reflects the percentage of revenue paid to the governments of countries where the gems are mined, including royalties, taxes, and dividends. Zambia became the first African country to publish G-Factor data for selected mining companies in April 2024, marking a significant milestone in transparency.
The report builds on Gemfields’ 2022 research, Global Emerald & Ruby Supply: Analyzing Market Data, providing deeper insights into the complexities of the coloured gemstone market. With contributions from approximately 100 industry experts and organizations, Gemfields continues to lead the charge for greater transparency and understanding within the sector.