Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
New Greenland Ruby Mine Owner Begins Production
The mining license for Aappaluttoq was transferred after True North Gems entered into voluntary bankruptcy last fall.
New York--Greenland Ruby A/S officially has started its production at the Aappaluttoq ruby mining site in the southwest region of Greenland.
Aappaluttoq is Greenland’s first corundum mine, located about 155 miles south of Greenland’s capital, Nuuk. According to the company, the deposit is “primary” type, meaning that the rubies are extracted from hard rock, mainly mica and amphibole.
At this time, it’s too early to know how much ruby and pink sapphire the mine might produce, a spokesperson for the company said.
The area originally was being mined by True North Gems, but the company entered into voluntary bankruptcy in September.
The mining license for the Aappaluttoq Ruby Mine then was awarded to LNS Greenland, an investor in the project, after it made a bid. Terms of the deal were not disclosed.
Greenland Ruby A/S, its sister company, was established in October to take over the exploitation license and handle the promotion and sales of the mine’s rubies and pink sapphires.
Concurrent with the news that Greenland Ruby has started production at the site, True North provided an update on its bankruptcy proceedings regarding its operating subsidiary in Greenland, True North Gems Greenland A/S.
The company’s management says it believes the “bankruptcy process managed by court-appointed Trustees and supported by the Greenland government was biased, unnecessarily expedited and potentially negligent.”
In response, it formed a special committee to investigate the process and actions of the trustees and the Greenland government to determine if legal action should be taken.
The company’s specific concerns in regards to the proceedings include a conflict of interest of trustees who have business relationships with LNSG, LNS and the Greenland government and a lack of transparency in the bidding process and the criteria on which the decision of which to accept was made, among other factors.
These concerns have been presented to the trustees, True North said, but no response has yet been given. (The court could not be reached for comment or update by press time.)
They also hired Danish counsel Skau Reipurth & Partners to address the bankruptcy trustees and to formally solicit responses to unanswered questions posed by the company’s board of directors.
The Latest
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.