Expected rivalry18 Jan 2020 08:45
FURA/GEMFIELDS are inexplicably linked In many ways but seems they will be separate entities.
Gemfields r listing valentine's Day
Fura news to come.for.the ruby licenses end of Jan
Jarv55 referred to this article before
https://www.mining-journal.com/discovery/news/1338774/fura-no-gemfields-20-ceo
Shetty:
"But what we need to do is at least promote our portfolio stock - when Gemfields is promoting Zambian emeralds, we are promoting Colombian emeralds.
,
"We have to do it on behalf of the sector, rather than just on behalf of Fura."
Some rivalry is expected, but Shetty said he would be happy to see Gemfields keep growing as long as the industry was too.
"In five years, when I become 10% [of gemstone supply], I'm pretty sure Gemfields will also grow … What is needed is, when they grow and we grow, just like diamonds, more people are coming and there's space for everyone," he said.
"As this happens, and I'm very confident, the more organised the industry is, the $2 billion [rubies, emeralds and sapphires global market] will go up to $5 billion and in that $5 billion, we want to target 15% market share.
"If Gemfields grows beyond 20-25%, we are happy. If we do everything right and we become 20-25%, we'll be happy."
Shetty's aims for his "community-centred business" are therefore not so humble: to more than double the coloured gems market in five years and then take a $1 billion chunk of that market.
Pallinghurst might have to watch its market share after all.