Sustainable «Mine to Market initiative» to change emerald industry.
GRS Gemresearch Swisslab AG ("GRS") and Fura Gems ("FURA") are joining forces. The focus of the initiative is to improve the transparency and traceability of Colombian emeralds, while building global confidence and awareness in the coloured gemstone market.
It is a win-win situation for all: Customers will benefit from end-to-end gemstone mining through to the verification and setting of colour grading standards. From a scientific perspective, it is a great opportunity to meticulously examine the gemstones and gain exclusive insights into the types and origins of emeralds in this region. This initiative will also be a catalyst for social development within Colombian society by creating meaningful links with miners, workers, and the local community.
Key Highlights of the MOU
- Visit to Mining Operations: GRS has visited Fura’s Coscuez Emerald Mine in Colombia to evaluate mining procedures, CSR programs, and environmental initiatives.
- Origin Verification: Reference samples were collected to establish rigorous origin verification standards, enhancing emeralds' traceability and authenticity.
- Auction Access: Fura Gems provides GRS access to their rough auction lots, enabling GRS to examine emeralds before auctioning them, contributing to improved testing and assessment.
- Fingerprint Data Collection: GRS will collect fingerprint data on rough emeralds, enabling the precise re-assignment of faceted stones to their original rough crystals.
- Gemological Reporting: GRS will assign a reference number to each studied single stone in high-value lots sold at Fura auctions, oTering a mark of authenticity and traceability.
- Geological Formation Identification: Gemological GRS reports will specify the geological formation where emeralds were found, such as the "MUZO formation" at Fura’s Coscuez Emerald Mine in Colombia
- Colour Grading Standards: The colour section of the GRS will follow specific grading standards, including categories such as green, intense green, intense to vivid green, vivid green and Muzo Green. Vivid green colours will be compared to GRS's master sets of Muzo green colour standards.
- Muzo Formation: Regardless of the colour grade, all emeralds registered from Coscuez Mine will be described as originating from the geological "MUZO formation".
Dev Shetty, Founder and CEO of FURA Gems, stated, “We are delighted to join forces with GRS Lab to enhance transparency and traceability for Colombian Emeralds. This initiative will bring greater transparency to our customers and contribute to our eBorts to build global trust and awareness for the coloured gemstone market.”
Dr A. Peretti, Owner and CEO of GRS GemResearch Swisslab, said "GRS is truly enthusiastic about this joint venture for multiple compelling reasons. One, from a scientific perspective, we are granted a rare and unparalleled opportunity to delve deep into the mining operations, meticulously inspect the gemstones, and gain exclusive insights into the types and origins of emeralds in this region. This scientific facet is exceptionally valuable to our mission. On the emotional front, this venture has allowed us to establish meaningful connections with the miners, laborers, the local community, and the new school that FURA has established for the youth. It goes beyond the gemstones being mere commodities; it's about their role as a catalyst for driving social development within Colombian society. We take pride in being a part of this transformative journey."
Benefits for Customers
Prospective customers of Fura Gems can acquire M2M GRS reports by providing the weight, dimensions, and GRS-assigned numbers for the emerald rough crystals. GRS will apply its specialised testing protocol to re-assign faceted emeralds to their rough crystals, facilitating the issuance of comprehensive GRS reports. This MOU represents a significant step forward for the emerald industry, emphasising transparency, ethical practices, and accurate gemological reporting. GRS and Fura Gems invite stakeholders, customers, and industry professionals to explore this innovative initiative.
For more information, please contact:
GRS Media Relations
GRS Gemresearch Swisslab AG
Dr. A. Peretti
Fura Gems Marketing and Communications Department
Mr. Gianluca Maina
About Fura Gems Inc.
Fura Gems Inc. is a leading coloured gemstone mining and marketing company headquartered in Dubai, UAE. Established in 2017, Fura Gems is known for its pioneering and ethical approach to the coloured gemstone industry. With mining operations in Colombia, Mozambique, Madagascar and Australia. Fura Gems mines emeralds, rubies, and sapphires, ensuring the stability and traceability of ethically sourced coloured gemstones from rough to retail. For more information, visit www.furagems.com
About GRS Gemresearch Swisslab AG
GRS GemResearch Swisslab AG is a renowned independent gemological research laboratory specializing in the authentication and origin determination of precious gems such as emeralds, rubies, sapphires, and other colored gemstones. With six international gemological research laboratories strategically positioned across the globe and equipped with cutting-edge technology, GRS stands at the forefront of identifying advanced gemstone treatments. Their ongoing research and exploration eTorts are showcased in documentary films and the book series 'Contributions to Gemology. For more information, visit www.gemresearch.ch
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