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14 Aug 2020, Edition - 1858, Friday

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Gemfields Using New Technology to Provide Next Level of Gemstone Traceability Partnering with Gübelin Gem Lab

Covai Post Network

As the world-leading supplier of responsibly sourced, coloured gemstones, Gemfields is advancing the industry as the first company to offer coloured gemstones for sale complete with Gübelin’s Provenance Proof technologies, not only citing the gemstone’s place of origin, but also setting up an encrypted record of a gemstone’s journey as it changes hands from mine to consumer.

 

Gemfields emerald – Mine to Market

Gemfields ruby – Mine to Market

 

At the end-of-year emerald and ruby auctions, several schedules of Gemfields’ high-value emeralds and rubies will be offered for sale at the company’s closed-room auction with complete blockchain records, providing customers with next-level transparency of gemstone history. The Provenance Proof Blockchain records can then be completed with details of ownership at every step as the gemstone exchanges hands, providing customers with an unprecedented level of clarity over the path a gemstone has taken.

 

The move comes as consumers increasingly demand knowledge of gemstone origin, showing heightened interest in mindful purchasing and appreciation of the impact of consumer behaviour throughout supply chains. In 2017, Gemfields pioneered Gübelin’s Emerald Paternity Test, the first Provenance Proof technology – the introduction of unique DNA particles that remain within an emerald’s fissures and serve to identify a gemstones’ origin on decode – and are now marrying this advance with Gübelin’s blockchain record process, providing a next step towards the goal of full transparency.

 

Gübelin Gem Lab’s advances in blockchain technology have given a huge boost to this ambition by providing a secure solution for proving the provenance of gemstones – the only way to be sure of exactly how a gemstone changes hands throughout its journey. This technique involves data for each gemstone being checked meticulously, using sophisticated algorithms, and then entered on a network of distributed digital ledgers: an efficient and secure alternative to an unreliable paper trail, with access to this information only granted to the gemstone’s current owner.

 

This new technology allows traceability along every stage of the value chain and provides seamless documentation for peace of mind. Information is encoded as well as being backed up on multiple servers, to prevent the data from being altered, deleted or manipulated, and to ensure that the individual history of each gemstone, from the mine to the final customer, is stored permanently and securely. 

 

Gemfields aims to operate in a manner that contributes positively to the national economies of our host countries, and to build lasting, sustainable livelihoods for the communities around our mines. As a pioneering company, we seek industry-leading solutions using state-of-the-art technology: for example, our ruby sort house in Mozambique and our proprietary coloured gemstone grading systems, which revolutionised the coloured gemstone trading mechanism. We work to improve awareness and delivery of responsibly sourced African coloured gemstones all the way from mine operations through to the end consumer, while having a positive impact on the countries of origin.

 

We are pleased to have customers who care as passionately as we do about where their gemstones come from, and by adopting Provenance Proof Blockchain, we are able to give them the certainty that they deserve.

 

About Gemfields

Gemfields is a world-leading supplier of responsibly sourced, coloured gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world’s single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world). Gemfields believes that those who mine gemstones should do so with transparency, legitimacy and integrity.

 

Gemfields introduced the most technologically advanced coloured gemstone sort house in the world at its operations in Mozambique, with state-of-the-art equipment, like optical sorting machines. In addition, a proprietary grading system, pioneering auction platform and an active marketing presence means Gemfields plays a significant role in the rise of African gemstones. This endeavour is coupled with a strong belief that coloured gemstones should create a positive impact for the country and community from which they originate.

 

Responsible sourcing for Gemfields means industry-leading policies and practices across operations, transparency in our auction sales process, an active role in working groups to modernise the sector, projects to improve health, education and livelihoods for the communities around our mines and conservation efforts (#conservationgemstones) to protect Africa’s great wildlife and biodiversity.

 

Fabergé – an iconic name with an exceptional heritage – is a member of the Gemfields Group. This enables Gemfields to improve its positioning, perception and consumer awareness of responsibly sourced coloured gemstones through the beauty of design and craftsmanship.

 

As well as supplying the majority of the world’s rough rubies and emeralds, Gemfields initiates activations to build desire for coloured gemstones. Gemfields creates collaborations with many partners and international jewellery brands. Often surprising, unexpected and unique, these collaborations are chosen to promote consumer awareness, appeal and education of coloured gemstones, raising their profile and, in turn, providing greater benefit to their place of origin in Africa.

 

Gemfields: Gemfields.com | Investors | Instagram | Facebook | Twitter | YouTube

Fabergé: Fabergé.com | Instagram | Facebook | Twitter | YouTube

Kagem Mining: LinkedIn

Montepuez Ruby Mining: LinkedIn

 

About Gübelin Gem Lab

Gübelin operates one of the world’s most respected gemmological laboratories as a completely independent subsidiary. In its laboratories in Lucerne, Hong Kong and New York, the Gübelin Gem Lab provides analyses of diamonds, coloured gemstones and pearls, and is particularly known for its expertise in coloured gems. The Gübelin Gem Lab has pioneered Provenance Proof.

 

About Provenance Proof Ltd.

Provenance Proof is the umbrella brand for a range of innovative, pioneering technologies that allow more transparency throughout the precious gem and jewellery industry. The Emerald Paternity Test, which uses nanolabels to trace emeralds back to the exact mine, and the Provenance Proof Blockchain, the first digital blockchain for coloured gemstones, are part of Provenance Proof Ltd. These technologies and services are addressed to all industry participants who rely on transparency – from miners to end consumers. For the Gübelin family, transparency in the precious gem and jewellery industry is a central concern, and they support Provenance Proof Ltd., which they wholly own.

Source: Newsvior

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