ICA Signs Agreement to Set Up Colored Gemstone and Jewelry Center in China

Letter of Intention signed by (From left) Derik Wang, general manager of China Mineral & Gem Exhibition Co., Ltd., Wilson Yuen, ICA president, and Li Keming, director of the Administrative Committee of Changsha National Economic & Technical Development Zone. Photo credit: ICA

The International Colored Gemstone Association signed an agreement with the government of the Chinese province of Hunan to establish a national manufacturing and training center for colored gemstones and jewelry in the province's capital, Changsha. The agreement will also provide for the promotion of colored gemstones, jewelry and minerals throughout China and allow the annual ICA Congress to be held in Hunan in 2013.

The “Letter of Intention” was signed Friday in Changsha by officials representing ICA, Gemfields plc., a mining company that specializes in emeralds, and the Changsha National Economic and technical Development Zone.

“This is an extremely significant breakthrough for the ICA and the colored gemstone and jewelry industry,” said Wilson Yuen, ICA president who was part of the signing ceremony. “The Chinese authorities are very keen to see the establishment of a colored gemstone and jewelry center in the country, and the government of Hunan province has agreed to put in place ambitious plans that will see this happen in the near future.”

The signing follows ICA’s recent move of its international headquarters to Hong Kong from New York, to take better advantage of the growing Asian jewelry and gemstone marketplace.

“Chinese jewelry buyers are showing a strong preference for items set with colored gemstones, recognizing the versatility they provide from a fashion viewpoint, and this joint venture will create a large manufacturing base,” Yuen said. “Taken together with the ICA setting up its international headquarters in Hong Kong earlier this month, these are exciting times for members of the ICA. They will benefit from a very strong base in the region and the supply of real-time information from our locally based staff. And now the gemstone center in Changsha will give them a direct connection with local manufacturers looking for a supply of a wide range of gemstones.”

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Graff to Unveil 120-Carat, $100 Million Colored Diamond Peacock Brooch

Graff Peacock made with 120.81 carats of colored and colorless diamonds.

Graff Diamonds will unveil a $100 million diamond peacock brooch Friday at the TEFAF art fair in Maastricht, Netherlands. A total of 120.81 carats of colored diamonds adorn the brooch, which measures a little over 10cm in height (about 4 inches).

At the center of the brooch is a 20.02-carat fancy deep blue pear shape diamond, one of the rarest blue diamonds in the world, according to the luxury diamond jewelry company. It is surrounded by white and colored Graff diamonds—set by master craftsmen at Graff’s London workshop. The peacock’s tail feathers are set with various-sized fancy white, yellow, blue and orange diamonds. The tip of each feather is adorned with white diamonds in a flowery bloom.

The piece has a clasp in the rear that allows for the blue diamond centerpiece to be removed and worn separately.

In myth and legend the peacock has long carried portents of nobility, guidance and good luck. This colorful diamond peacock also provides beautiful adornment.

The TEFAF Maastricht art fair opens Friday and runs till March 24.

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Mila Kunis and Jewelry Designers Launch Gemfields Bespoke Colored Gemstone Jewelry Collection

Mila Kunis takes center stage among jewelry designers at Gemfields event.

Actress Mila Kunis joined a group of fine jewelry designers to help launch a bespoke jewelry collection created with emeralds, rubies and amethysts provided by Gemfields, a colored gemstone miner and marketer.

The jewelry collection was unveiled at the Phillips Auction House in London. It was created by 36 jewelry designers that partner with the London-based company and primarily consist of Zambian emeralds, Mozambican rubies and Zambian amethysts. The jewelry ranges in price from $1,130 to $750,000.

Many of the designers who created the jewelry were at the launch, including Theo Fennell, Stephen Webster, Shaun Leane, Dickson Yewn and Alexandra Mor. They shared the spotlight with Kunis and celebrities from the U.K. and India, including Jacquetta Wheeler, Kamika Kapoor and Nina Naustdal.

To coincide with the launch of this project, Gemfields presented its new global advertising campaign featuring Kunis wearing ethically sourced Zambian emeralds and Mozambican rubies shot by Mario Sorrenti in Los Angeles.

This jewelry showcase will travel to India next and then to Las Vegas where it will be displayed at the Couture show in May. 

Gemfields first announced its relationship with Kunis and the new advertising campaign about a month ago. The company first disclosed its partnership with the jewelry designers in the fall of last year.

The campaign focuses on emerald jewelry, which coincides with Gemfields main business: the mining and marketing of emeralds from the Kagem mine in Zambia, which it has a 75 percent stake in. The same mine also produces amethysts. It is working to produce a mine-to-market strategy for their emeralds that it says will be ethical, transparent and sustainable.

The company also owns a 75 percent stake in the Montepuez ruby mine in Mozambique and the Kariba amethyst mine in Zambia.

If that’s not enough, in January Gemfields finalized its ownership of iconic Russian luxury jewelry brand, Fabergé, which receives a supply of the company’s best colored gemstones.

Earlier this month, the company released a bit of bad news in its half-year financial report, saying that core earnings fell 39 percent as it held just one auction during the period compared with two in the prior year. But production climbed by two-thirds.

Production rose about 65 percent to 14.5 million carats in the first half, mainly on higher grades recovered at its Kagem mine in Zambia. Earnings before interest, tax, depreciation and amortization fell to $19.5 million for the six months to December 31, from $32.2mn a year earlier.

Revenue from rough and finished emerald sales decreased 39 percent to $27.7 million.

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