Gemfields releases further research into the global supply of emerald, ruby and sapphire

Gemfields releases further research into the global supply of emerald, ruby and sapphire

Gemfields, a world-leading miner of coloured gemstones, today launched a report entitled Understanding the Global Supply of Emerald, Ruby and Sapphire, authored by Lauriane Pinsault. Building on Gemfields’ 2022 report entitled Global Emerald & Ruby Supply: Analysing Market Data, this latest analysis goes a step further in understanding the supply of coloured gemstones. Gemfields invites industry experts to review the information provided with a view to collaborating on further research, to improve transparency and understanding in the coloured gemstone industry

Independent Industry Review by Lauriane Pinsault

Authored by Lauriane Pinsault, CEO of GeoGems, as an independent industry review, this latest report includes input from approximately 100 industry experts and companies who were invited to contribute. As funders of the research, Gemfields wishes to thank all of those who participated. The aim has been to promote coloured gemstones globally and allow individuals, companies, and organisations to have access to improved information about the industry.

Background and Previous Research

The paper follows on from the report Global Emerald & Ruby Supply: Analysing Market Data, which was also written by Lauriane Pinsault for Gemfields and published in March 2022. The first report used several sources of data (notably UN Comtrade and the United States Geological Survey “USGS”) and compared these with miners’ direct information, where it was made available. This research indicated that online data related to coloured gemstone supply is unreliable and often missing, and that values are often underdeclared.

Objectives of the New Research

This new research had three objectives:

1. To update data from the previous report.
2. To add market analysis of sapphire.
3. To incorporate new sources of information, working in collaboration with other miners, associations, cooperatives, and consultants, to provide a more robust analysis and understanding of the global supply of emerald, ruby, and sapphire.

While this report incorporates a greater number of collaborators than the initial one in 2022 did and presents a more informed analysis of the industry, the data regarding the industry is still inconsistent, often incomparable, and far from robust.

Challenges in Achieving Transparency

“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. Gemfields has pioneered approaches such as this research paper series and the G-Factor for Natural Resources, to facilitate a clearer understanding of the coloured gemstone sector, so that the industry can increasingly serve as a force for good,” explains Sean Gilbertson, CEO of Gemfields.

Insights from Lauriane Pinsault

“This new paper is the result of a long-term endeavour to connect with and contact numerous actors within the coloured gemstone industry. Their opinions, compiled using data from miners, governments, and industry reports, make this paper one of the most reliable works completed to date in relation to estimating the volumes of production of ruby, emerald, and sapphire. That said, the highlighted inconsistencies, incoherencies, lack of information, and resistance by some within the industry to collaborate – even anonymously – shows that there is still a long way to go before we reach a comparable level of access to information to that which exists in the diamond industry. Such access would surely benefit the entire sector,” says Lauriane Pinsault, CEO of GeoGems.

Sources and Data Collection

Providing an overview of coloured gemstone supply, its evolution across the past 40 years, and its current status, Pinsault’s research is informed by:

• Miners, mining associations, and consultants.
• Data collection agencies.
• Governmental mineral statistics.
• USGS and Extractive Industry Transparency Initiative (EITI) reports.
• Bibliographic research from industry-specialised publications such as Gems & Gemology, Journal of Gemmology, and InColor.

Inclusion of Artisanal and Small-Scale Mining (ASM) Data

Unlike the 2022 report, this report also sought to include information about the Artisanal and Small-Scale Mining (ASM) sector. Collaboration with associations, consultants, and miners of all scales has enabled this research to provide a better estimate of the share of global supply attributable to ASM, and therefore the paper attempts to give an estimate of the undeclared portion of production that arises from this channel.

Promoting Greater Transparency in the Industry

In pursuit of greater transparency, Gemfields encourages all coloured gemstone producers to publish their G-Factor for Natural Resources annually. The G-Factor for Natural Resources is a simple calculation of the percentage of an extractive company’s revenue that is paid to the country-of-origin’s government in the form of mineral royalties, corporation tax, and, where applicable, dividends.

In April 2024, Zambia became the first country in Africa to publish G-Factor for Natural Resources data for selected mining companies via its EITI online portal, furthering transparency and accountability in Zambia’s mining sector. Further information can be found HERE.

Future Research and Collaboration

Gemfields hopes to collaborate with interested parties to co-author further research papers in this series, in order to facilitate a better understanding of global emerald, ruby, and sapphire supply.