MajorsNov 29, 2022
LVMH Acquires Jewelry Manufacturer Pedemonte GroupThe strategic acquisition will bolster the luxury titan’s production capacity in its watch and jewelry division.
SourcingAug 12, 2020
Fura to Acquire Australian Mining Company
The deal includes 73 sapphire mining leases in Central Queensland.
Fura Gems will acquire Great Northern Mining and its 73 sapphire mining leases.
Toronto—Fura Gems is slated to buy Australian mining company Great Northern Mining.
The company has entered into a share sale agreement through its Australian subsidiary Capricorn Sapphire Pty worth nearly A$3 million (about $2.1 million).
The deal includes 73 sapphire mining leases in Central Queensland, at an area approximately 850 kilometers (about 528 miles) northwest of Brisbane.
They comprise a block of contiguous licenses measuring 15.2 square kilometers (just under 6 square miles) and share a common boundary at the east side with Fura’s existing Capricorn sapphire mining license.
The deal also includes some buildings, plants, fixtures, tools and other equipment.
Great Northern Mining produces a variety of sapphires—blue, blue-green, yellow and “parti” sapphires, or consisting of multiple colors.
Fura said after the acquisition it will work on a detailed geological evaluation to assess the scale-up of production at the site.
Additionally, it will work on a marketing strategy for Australian sapphires and aim to launch the product early next year.
Great Northern and Capricorn Sapphire together make the largest Australian sapphire supplier, according to Fura.
The deal is expected to close this month. 
As for Fura’s Capricorn project, the acquisition of which was completed in January, mining exploration and rehabilitation activities have been operational throughout the pandemic—with appropriate controls and restrictions in place—as Queensland was able to keep its case count in check.
Fura said it plans to scale up operations there in the fourth quarter.
More on Sourcing
The Latest
CollectionsNov 29, 2022
Alex and Ani Founder Carolyn Rafaelian Has Launched a Fine Jewelry LineThe new brand, Metal Alchemist, focuses on unisex, classic jewelry designs.
IndependentsNov 29, 2022
Reinhold Jewelers’ Holiday Book Is an Ode to an Important Beverage The 2022 edition of the retailer’s annual publication pays homage to the coffee farms and shops of Puerto Rico.
Brought to you by
Knowledge and Skills for Today’s Hot TopicsFrom laboratory-grown diamonds to design to country-of-origin, GIA's Alumni Collective™ has a seminar to suite your needs.
CollectionsNov 29, 2022
Gabriel & Co.’s ‘Fashion Book’ Is OutNot a catalog, the magazine is a tool for Gabriel & Co. retailers to connect with their customers.
Weekly QuizNov 18, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
MajorsNov 29, 2022
Claire’s to Open Shop-in-Shops in Select U.S. Macy’s Stores The partnership brings Claire’s jewelry and accessories to 20 Macy’s locations in time for the holiday season.
MajorsNov 28, 2022
Pomellato’s New Videos Raise Awareness of Violence Against WomenStarring CEO Sabina Belli and other celebrities, the videos emphasize the importance of supporting women who have experienced abuse.
Brought to you by
Diamond Shoppers’ 2022 Holiday Wish ListGive your customers the best diamond buying experience this holiday season.
IndependentsNov 28, 2022
Bert Kalisher, an Industry Veteran Who Loved Making Connections, Dies at 97 Kalisher started out manufacturing watch bands and later got into publishing, authoring two books and serving as publisher of Chronos.
Events & AwardsNov 28, 2022
Registration Is Open for AGA’s Annual Tucson Conference Scheduled for Feb. 1, the event will feature six gemological education presentations and three hands-on sessions.
MajorsNov 28, 2022
The Kingswood Co. Is One of U.S.’s Fastest-Growing Companies AgainThe jewelry cleaner manufacturer jumped up to No. 3066 on the Inc. 5000 list.
AuctionsNov 23, 2022
This Sapphire Tiara Once Owned by a Danish Princess Is Going to AuctionThe Dec. 1 jewelry sale at Bonhams-owned Bruun Rasmussen will have several other pieces of royal jewelry on the block.
FinancialsNov 23, 2022
Movado Lowers Guidance Amid ‘Uncertain’ Retail EnvironmentIts Q3 sales dipped as inflation took its toll on shoppers in the U.S. and Europe.
MajorsNov 23, 2022
De Beers Jewellers Is Popping Up in ConnecticutThe temporary store is the result of a collaboration with Betteridge.
CollectionsNov 23, 2022
Piece of the Week: Rembrandt’s Turkey CharmCharm fans will gobble up this festive “Piece of the Week” pick.
AuctionsNov 22, 2022
Jewelry Recovered from Sunken ‘Ship of Gold’ Heads to Auction The S.S. Central America sank in 1857 off the coast of South Carolina, carrying tons of gold from the California Gold Rush.
IndependentsNov 22, 2022
See the Greek Jewels Going to Auction for CharitySeveral Greek jewelry designers have donated pieces to the annual Hellenic Initiative silent auction.
Events & AwardsNov 22, 2022
Hodinkee to Receive Gem Award for Watch ExcellencePlus, see this year’s list of nominees for the Jewelry Design, Media Excellence, and Retail Excellence awards.
TechnologyNov 21, 2022
Version 2.0 of the NDC’s ‘Assure’ Directory Is Now LiveAssure is the program the Natural Diamond Council launched in 2019 to test lab-grown diamond screening devices.
MajorsNov 21, 2022
JK Findings Acquires Intercept Silver & Jewelry CareIntercept Silver & Jewelry Care distributes anti-corrosion and anti-tarnish products.
MajorsNov 21, 2022
David Yurman Just Opened a Palm Beach OutpostIt’s located on famed shopping street Worth Avenue.
EditorsNov 18, 2022
9 of My Favorite Pieces from the AGTA Spectrum Awards Editors’ DaySenior Editor Brecken Branstrator’s highlights include a chrome tourmaline ring, a giant opal necklace, and an American mined stone.
CrimeNov 18, 2022
Jewelry Store Security Guard Killed in Armed RobberyPolice in Calumet City, Illinois are looking for several suspects involved in the robbery of a jewelry store in the River Oaks Mall.
MajorsNov 18, 2022
AGS Adds Sumit Dangi to Board of DirectorsDangi is global chief financial officer and treasurer at Jewelers Mutual Group.
CollectionsNov 18, 2022
Piece of the Week: Tabayer’s ‘Oera’ PendantThe brand’s signature shape is rendered in an autumn-appropriate color palette.
GradingNov 17, 2022
GIA Labs Report Receiving 2 Moissanites Submitted as Diamonds The discoveries were outlined in the Lab Notes section of the fall 2022 issue of Gems & Gemology.
MajorsNov 17, 2022
Boucheron’s Magical Holiday Campaign Has Landed“Boucheron Wonderland” showcases best-selling styles, high jewelry, and some familiar faces.
