Editor’s Note
This article highlights the fifth international sale of emeralds from Colombia’s renowned Coscuez mine, showcasing the ongoing global trade in precious gemstones.
The fifth international emerald sale by multinational company Fura Gems commenced on Thursday, November 23. The emeralds, extracted from the Coscuez mine in San Pablo de Borbur, Boyacá, Colombia, will be showcased in Bogotá from November 23 to 27.
Buyers from Colombia, India, the United States, Israel, China, Hong Kong, and Thailand will gather in Bogotá during the aforementioned dates. A subsequent viewing will be held in Bangkok, Thailand, from December 7 to 11.
Coinciding with its fifth international sale, Fura Gems announced the signing of a Memorandum of Understanding (MOU) with the renowned Swiss gem laboratory GRS (GemResearch Swisslab AG). This partnership falls under the ‘Mine to Market’ (M2M) initiative, aimed at making a substantial impact on the global emerald industry.
1. Origin Verification: Rigorous origin verification standards have been established through the collection of reference samples to improve the traceability and authenticity of the emeralds.
2. Sales Access: Fura Gems grants GRS access to its rough emerald sale lots, allowing GRS to examine the stones prior to sale, thereby contributing to improved testing and evaluation practices.
3. Digital Fingerprint Data Collection: GRS will collect digital fingerprint data on rough emeralds, facilitating the accurate reassignment of faceted (cut and polished) stones to their original rough crystals.
4. Gemological Report: GRS will assign a reference number to each unique stone studied in high-value lots sold at Fura Gems sales, providing a mark of authenticity and traceability.
5. Geological Formation Information: GRS reports will specify the geological formation where the emeralds were found, such as the famous Muzo formation at Fura Gems’ Coscuez emerald mine in Colombia.
6. Color Grading Standards: The color section of GRS reports will adhere to specific grading standards, covering categories like green, intense green, intense to vivid green, vivid green, and Muzo green. Vivid green colors will be compared to GRS’s master sets of Muzo green color standards.
7. Muzo Formation Designation: All registered emeralds from the Coscuez mine, regardless of color grading, will be described as originating from the ‘Muzo formation’.
Thanks to this collaboration, Fura Gems’ clients will be able to obtain ‘Mine to Market’ reports from the leading, globally recognized GRS laboratory. These reports will provide the weight, dimensions, and GRS-assigned numbers for the rough emerald crystals. GRS will use its specialized testing protocol to reassign faceted emeralds to their rough crystals, facilitating the issuance of comprehensive reports.