The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Coscuez Could Produce 6 Million Carats of Emeralds
The mine’s mineral resource estimate also shows a predicted mine life of 30 years.
Toronto—Fura Gems has announced the mineral resource estimates for its Coscuez emerald mine in Colombia.
According to an estimate prepared and classified by independent mining consultant group Watts, Griffis and McOuat Limited, Coscuez contains 3 million tons of inferred mineral resources at an average grade of 2 carats per ton.
This means the Colombian emerald mine is expected to produce about 6 million carats, at an average price of $200 per carat.
The estimate also indicates that it has the potential to produce as much as 35 to 140 million carats more than that, but further exploration is needed, the consultants said.
Coscuez has an estimated life of mine of 30 years.
Fura said it believes this is the first mineral resource estimate in the Colombian emerald sector.
The estimate took into account mapping of the more than 20 kilometers (about 12.43 miles) of existing underground tunnels, completion of more than 1,600 meters (about 5,249.34 feet) of core drilling and recovery of nearly 16,000 carats of emeralds from bulk sampling activities.
The company acquired the Coscuez emerald mine in January.
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
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.
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.