“It is possible to achieve $6bn global market of color gemstones within a decade” (Fortune India Exchange – July 23, 2021)


Fura Gems, a startup precious colour gemstone mining company launched in 2017, is uniquely positioned as the first and only mining company in the world to explore three color gemstone categories including emeralds, rubies and sapphires.

While achieving this remarkable feat, Dev Shetty, Founder & CEO, set another extraordinary and unprecedented record for the fastest turnaround of mines from exploration to production.

In 2021, Fura gems will produce 5.5 million carats of Australian sapphires, 6 million carats of Mozambican rubies and 300,000 carats of Colombian emeralds. Here are excerpts from a recent interview where he talks about the winning strategies that are leading Fura to the market leadership position.

Q: FURA Gems is a startup mining company. How would you sum up its purpose briefly?

Dev Shetty (DS): FURA Gems is ambitious about the future of the global colour gemstone market. Our purpose is to spread trade transparency by providing ethically sourced color gemstones with complete traceability of the mine-origin to end-consumers.

At that end, we have already acquired the 122-95 M Coscuez emerald mine in Colombia on October 30, 2017, seven ruby mining licenses of various shares in Mozambique by October 2019, and the Great Northern Mining and Capricorn Sapphire mines in Australia by end of 2020. We are the first mining company in the world to explore all three color gemstone categories.

For the rest of this interview: https://www.fortuneindia.com/enterprise/it-is-possible-to-achieve-6bn-global-market-of-color-gemstones-within-a-decade/105652