Gemfields Resources Plc, a UK based mining and processing company listed on the AIM Exchange of the London Stock Exchange, held a well-attended press conference on February 13 at the Trident Hotel in Mumbai. The company is the owner of the largest and most sophisticated mining operation at the Kagem mines in Zambia which have the world’s largest emerald reserves that will reputedly last for the next 25 years. The emeralds from these mines form 15%-20% of the world’s collection of these stones. At the press conference, beautiful Zambian emeralds known for their deep colour and clarity, were presented in pairs, suites and layouts. Gemfields Resources Plc attempts to become the world’s leading source of premium coloured gemstones. To achieve its goals, the company has established an exclusive cutting and polishing facility in Jaipur. At the press conference were {{Rajiv Gupta}}, executive vice chairman of Gemfields, {{Sean Gilbertson}}, CEO, {{Steven Malama}}, chairman, Kagem mines and in-coming CEO, {{Ian Harebottle}}.

Speaking at the press conference, Gilbertson, noted that Zambian emeralds were created 450 million years ago and were coveted by renowned historical figures like Cleopatra, Roman emperors like Nero and the Mughals. Gilbertson disclosed that the company produces 20% of the world’s emeralds and plans to deliver the stones from the mine to markets. To this end, Gemfields employs 850 people in three countries across the globe.%% Rajiv Gupta emphasized that “for the first time in history consumers will be able to trace the quality and integrity of every emerald mined from Kagem right from its origin within the earth to its ultimate journey to a store.” The company will provide dual certification in collaboration with international laboratories like IDL and GIA. He mentioned that 60% of the rough produced by the mine will continue to be sold as rough while the rest of the stones would be used in unique necklaces to be sold to high net worth individuals. In reply to a question by this correspondent about the failure of the rough auction in Zambia in November 2008, Gupta admitted candidly that the auction was unsuccessful as the company did not get its reserve price. %%Gemfields Resources Plc plans the commencement of emerald sales next month in Mumbai, Jaipur and Zambia.