Key Findings and Objectives
The report sets out three primary objectives: updating data from the previous study, incorporating market analysis of sapphire, and integrating new data sources through collaboration with miners, associations, cooperatives, and consultants. Despite the expanded scope and increased number of contributors, the report highlights persistent inconsistencies and gaps in available data.
Sean Gilbertson, CEO of Gemfields, acknowledged the progress made while pointing out the ongoing challenges. “This second deep-dive into the global supply of emerald, ruby, and sapphire makes solid strides forward, but continues to serve as a reminder of how far the coloured gemstone industry still has to go to reach the levels of transparency that end consumers deserve,” said Gilbertson.
Lauriane Pinsault emphasized the significance of the new research, stating, “The highlighted inconsistencies, lack of information, and resistance by some industry players to collaborate underscore the challenges we face. Nevertheless, this report represents one of the most reliable analyses of coloured gemstone production to date.”
Expanding the Scope
Unlike the previous report, the new analysis includes information about the artisanal and small-scale mining (ASM) sector. Collaboration with various stakeholders enabled a better estimate of the share of global supply attributable to ASM, shedding light on previously undeclared production.
The research draws on information from miners, mining associations, consultants, governmental statistics, and publications such as Gems & Gemology, Journal of Gemmology, and InColor. Additionally, data from the United States Geological Survey (USGS) and the Extractive Industry Transparency Initiative (EITI) reports were used to provide a broader understanding.
Promoting Transparency
Gemfields continues to champion greater transparency in the coloured gemstone sector. The company encourages producers to annually publish their G-Factor for Natural Resources, a measure of the percentage of revenue paid to the country of origin’s government in royalties, taxes, and dividends. Zambia, in April 2024, became the first African nation to publish G-Factor data for selected mining companies through its EITI online portal.
About the Report
Authored by Lauriane Pinsault, CEO of GeoGems, the research builds on Gemfields’ 2022 analysis, Global Emerald & Ruby Supply: Analysing Market Data, offering deeper insights into the coloured gemstone industry.
The latest report incorporates input from approximately 100 industry experts and companies, invited to contribute to this independent review. Gemfields expressed its gratitude to all participants, emphasizing the importance of collaborative research in enhancing transparency and understanding within the coloured gemstone sector.
