Sourcing

Inaugural Tender for Coscuez Rough Emeralds Slated for March

SourcingFeb 17, 2021

Inaugural Tender for Coscuez Rough Emeralds Slated for March

Bonas Group will host viewings of Fura Gems’ material in Dubai, then Bogota, to allow access to buyers across the world amid travel restrictions.

A sample of rough material from Fura Gems’ Coscuez emerald mine in Boyacá, Colombia
Dubai—Brokerage and consultancy firm Bonas Group is set to host another inaugural emerald tender this spring, selling rough emeralds from Fura Gems’ mine in Colombia for the first time next month.

Fura completed its acquisition of the Coscuez mine—located in the Muzo emerald district in Boyacá, Colombia—from Emporium in early 2018 and started its underground drilling phase, a first for the historic site, not long after.

Though Fura did not reveal how many carats would be up for offer during the tender, they did say the quantity would be large, covering high, mid and commercial quality, with several significant pieces.

Viewings for the tender’s goods will start in Dubai, where Fura is based, at the Dubai Diamond Exchange in the Almas Tower from March 2-7. They will then follow in Bogotá, Colombia, from March 15-19 (with exact details to come) to allow local Colombian and North American manufacturers access to the material amid travel restrictions.

The viewings will be held in accordance with local COVID-19 health and safety policies.

Bonas will handle the KYC (know your customer) process for buyers, as well as invoicing, payment, and will host the bidding for the material online.

For more information or to schedule an appointment, contact Bonas Group’s Didier Backaert at +32 3 233 70 80 or didierbackaert@bonasgroup.com.

Fura’s license to mine at Coscuez was just extended for 30 years, and the company also increased operations, changing its status from a mid-scale miner to a large-scale miner and allowing them to mine as much as 170,000 tons of ore per year, President and CEO Dev Shetty told National Jeweler recently.

The company has spent some time recently adding mining equipment and a new washing plant as well as hiring the manpower needed for such an expansion. They now employ nearly 600 people at the mining site.

Fura is targeting 300,000 carats of rough emerald mined at Coscuez in 2021.

The Bonas/Fura tender runs closely to another featuring rough emeralds. Grupo Belmont is also slated to start selling material from its Belmont mine in Minas Gerais, Brazil, via its first tender next month.
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Events & AwardsDec 03, 2021
JA New York's Spring Show to Return in 2022

The New Designer Gallery will also make its comeback.

Events & AwardsDec 03, 2021
Gary Roskin Will Receive the 2022 Bonanno Award

Roskin heads the International Colored Gemstone Association, and is a graduate gemologist, author, journalist, and diamond grading expert.

Policies & IssuesDec 03, 2021
Alliance for Responsible Mining Names New Executive Director

Gina D’Amato joins with more than 15 years of experience in sustainable development.

Brought to you by
Train Your Staff Today with Interactive eLearning

Join the prestigious brands, industry organizations and sellers using IGI’s educational services.

CollectionsDec 03, 2021
Piece of the Week: Angely Martinez’s Island Bar Ring

The designer’s memories of beach trips and nature in the Dominican Republic inspired her new opal and pearl collection, “Aqualescence.”

Weekly QuizDec 02, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of Nov. 29-Dec. 3, 2021.
Take the Quiz
FinancialsDec 02, 2021
Signet Raises Guidance Again, Expands Selection of Lab-Grown Diamonds

Its additions include an exclusive lab-grown diamond cut for Zales’ “Vera Wang True” line and a lab-grown option for Kay’s “Leo” cut.

TrendsDec 02, 2021
A New Book on Lover’s Eyes Jewelry Is Out Now

“Lover’s Eyes: Eye Miniatures from the Skier Collection” features more than 130 examples of the much-sought-after antique style.

Brought to you by
3 Tips For Entering the Estate Market

Generate foot traffic and expand your jewelry expertise by adding an estate assortment to your store in partnership with Windsor Jewelers, Inc.

SurveysDec 02, 2021
2021 Will Be the ‘Year of Jewelry,’ Analyst Says

Edahn Golan forecasts a blockbuster holiday season will cap off a stellar year for U.S. jewelry sales.

×