Dubai-based miner Fura Gems will invest $200 million in its Colombia emerald mine over the next five years, an executive said on Wednesday.
The company is holding its fourth auction of uncut emeralds from its Coscuez mine in central Boyaca province this week in Bogota. Fura predicts the auction, which will move to Bangkok later this month before closing, will attract some 80 potential bidders from around the world, vying for 240,000 karats of the green gem.
“We are expecting total, maybe in five years, we are expecting more than $200 million in this country” Sanjay Kumar, managing director for Fura in Colombia, said on the sidelines of the auction.
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