Dubai and Thailand explore mutual trade opportunities for gems and colored stones

UAE. Dubai Multi Commodities Centre (DMCC) and the Thai Gem and Jewelry Traders Association (TGJTA) signed an agreement today, making TGJTA the first affiliate member of the Dubai Gems Club (DGC), a strategic initiative of the Colored Stones and Pearls Division at DMCC.

This agreement will boost trade opportunities between Dubai and Thailand, both fast-emerging markets for gems and colored stones. Thailand, a major global gem trading and processing centre, is the second largest exporter of gems and jewelry in the world with annual exports over US$2 billion. The country enjoys rich natural deposits of ruby and sapphire and is known as the heart of South East Asian gemstone production and trade.

Under the terms of the agreement, TGJTA members will access DGC’s network of local and international markets. In addition, as an affiliate member, TGJTA will also have access to the dedicated trading facilities of the Dubai Gems Club located at Almas Tower. DMCC serves as an international hub bridging gemstone producing and consuming countries, and facilitates the trade of colored stones through Dubai via the Dubai Gems Club.

Gaiti Rabbani, Executive Director-Colored Stones and Pearls Division, DMCC, said: “We strongly feel that the colored stones industry needs a unified and comprehensive marketing strategy that will drive demand across the emerging consumer markets. DMCC’s affiliation with TGJTA will offer Thailand’s colored stones community a dedicated platform to further boost their trade, and will in turn positively impact the entire value chain of the colored stones industry. In addition, our partnership with TGJTA will add value to Dubai’s AED 70 million [US$20 million] annual colored stones trade.”

“The affiliate membership status is new to DGC and we are pleased to work with a reputable association such as TGJTA in this Endeavour. We expect to see an equally strong response from other respected international gemstone organizations as a result of the various benefits derived from this membership status,” she added.

Vichai Assarasakorn, President, TGJTA, said: “The TGJTA has always sought to lead the way in the international community to promote Thailand’s colored stones trade. Our association with DMCC will pave the way for a dedicated market for over 200 of our members. We look forward to partnering with the Dubai Gems Club to further develop the jewelry and colored stones trade.”

TGJTA was established over three decades ago to serve Thailand’s gem and jewelry traders and manufacturers. It has concentrated on creating a cohesive organization dedicated to developing and expanding the industry for the benefit of all. TGJTA’s leadership and members have served to grow what was once a cottage industry in Thailand into one of the world’s leading gem and jewelry manufacturing and trading centers.

Source: BI-ME

True North Gems' Ruby, Pink Sapphire Licenses Renewed on Greenland

True North Gems' licenses were renewed at the 110 km2 Fiskenaesset property, which is contiguous with and adjacent to the company's 713 km2 Qaqqatsiaq ruby exploration license, on the southwest coast of Greenland. The approval was granted by the Bureau of Mines and Petroleum and the Joint Committee on Mineral Resources for Greenland and Denmark.

The formal ratification of the Fiskenaesset license, valid now through December 31, 2012, maintains True North's total land position of 823 km2. The Fiskenaesset license was originally acquired by Brereton Engineering & Developments Ltd. in March 2003. True North optioned the property in April 2004 and the obligations to Brereton under the terms of this option agreement remain in effect.

The Fiskenaesset license consists of three separate property blocks (designated sub-areas) which cover more than thirty known ruby occurrences, as well as extensive areas of prospective geology for the occurrence of ruby and pink sapphire mineralization. Exploration within the Fiskenaesset license has been advanced by True North Gems since 2004 and detailed assessment of the high grade Aappaluttoq prospect was initiated by True North Gems during 2006 and 2007. The 2008 exploration program has the objective of acquiring sufficient information to advance Aappaluttoq to the pre-feasibility stage.

GemTradeNet.com Visits Chantaburi Gems Trade Center Thailand

GemTradeNet.com recently visited the Chantaburi Gem Trade Center located in the the provincial town of Chantaburi in eastern Thailand. Chantaburi seems an unlikely center for international commerce of any description, but a combination of factors has earned it a solid reputation as one of the most important gem-trading capitals of the world. Located some 250 kilometers from Bangkok, the town owes its prominence to the nearby presence of a legendary gem mountain known as the Khao Ploei Waen. In the past sapphires and rubies littered the ground there in such quantities that village children used them as marbles or smashed them into pieces for the pleasure of making colored sparks fly. It was this treasure trove that put Chantaburi firmly on the map as one of the world's top gem-trading locations, an accolade it still merits today. The local gem traders' association estimates that today at least 80 percent of the world's rubies and sapphires transit Chantaburi at one stage or another on their journey from the mine to the retail outlet.

The nerve center of Chantaburi's gem trade is the Talaat Ploei, or gem market, located in the heart of the old town. The market, an informal collection of open-fronted shophouses at the intersection of Si Chan and Thetsaban streets, operates on weekends from Friday to Sunday. Thousands of dollars' worth of gems lie scattered on the tables, and African, Indian and Sri Lankan dealers mingle with Thai, Chinese, Japanese and even the occasional Western buyers.

Typically from the mine to the end consumer a gemstone changes hands at least seven times, and jumps in price a thousand percent. Even between Chantaburi and Bangkok the price difference can vary by up to 30 percent. Huddled at rickety tables with jeweler's loupes screwed into their eyes, the buyers rent space at one of the shophouses and put up a sign listing the gems they are interested in acquiring. Sellers patiently line up to present their stashes and eye the stones of the competition. It all seems very amicable with no raised voices, just quiet bargaining that leads to a deal being refused or concluded with a handshake.

GemTradeNet.com met with the local Gem Traders and gave them useful insights as to how GemTradeNet.com can help them to grow and compete over the internet. The GemTradeNet.com sales and Marketing team distributed brochures and introduced the novel ideas proposed through the Gem Trade Network.

Gem Traders in the packed weekend market were given a brief on the innovative features included in its Gemstone search and Gemstone listings. Also highlighted during these presentations was the recently launched Auctions feature,and the various modes by which Gemstone sellers can benefit from these selling tools.

Ruby-The King of Gemstones

Ruby is a form of Aluminium Oxide known as Corundum. Pure Corundum is in fact clear, and Red Corundum, or Ruby, is made up of Corundum (Al2O3), and Chromiumium impurities (Cr3+), which are responsible for the wonderful Red colorations. Ruby is the most valuable gem in the Corundum family.Ruby is associated with the zodiac signs of Cancer, Leo, Sagittarius and Scorpio. Ruby is the birthstone for the month of July.

The name Corundum is believed to originate from either the Indian word kauruntaka, or the Sanskrit word kurivinda. Ruby, the name for this particular type of Corundum is taken from the Latin word ruber, meaning “red”.

Since ancient times, the Ruby has been known as the King of Gemstones, and has been considered to be a protective stone providing the wearer with benefits such as invulnerability and preserved health. In addition to this, Rubies inspire creativity, wisdom and love, as well as enhancing self-reliance / confidence and increasing spirituality. Rubies worn by men signified manhood and nobility. Rubies worn by women were said to invoke passion and power. Improved circulation is one of the major perceived medical benefits of Ruby gems. Fire, blood and warmth are further properties assiciated with the Ruby.

It is an extremely hard and a very expensive exercise trying to source natural Rubies that have not been heat-treated as these gems are amongst the most valuable gemstones known today. However, thanks to modern gemstone enhancements and treatments, it is now possible to own wonderful, heat-treated natural Rubies that are both available to meet demand, and priced at a level making this beautiful King of gemstones attainable / available to most people.

Whilst today's main sources of Ruby are Myanmar (Burma), Vietnam and Thailand, there are also notable resources in Afghanistan, Africa, Cambodia, India, Kashmir, Laos, Nepal, Pakistan, Sri Lanka (Ceylon), Tajikistan and the United States (North Carolina).
The highest quality and most desirable Rubies are those that originate in Myamnar (Burma). Burmese Rubies, once heat-treated display amazing deep red colors. Vietnamese Rubies generally display a purple hue and Rubies from Thailand are a beautiful mid-red color. Rubies from Africa display remarkable red colors and Sri Lankan (Ceylon), Sapphires often have a raspberry tint and are therefore also considered amongst the most desirable.

Ruby is rated at 9 on the Moh's Scale of Hardness and is second only to the Diamond in this regard. Rubies are therefore perfectly suited to all jewelry purposes / uses and is a very hard-wearing, durable and versatile gemstone suitable for everyday wear.

Being an extremely hard gemstone that is very well-suited to jewelry purposes, Rubies are cut into almost all of the known gemstone cuts, with Cushion, Emerald, Pear and Oval cuts being particularly popular.

Almost all Rubies found on the market today have been heat-treated in order to intensify color and remove “silk”, small inclusions present in most natural Rubies. This method of treatment is considered permanent and color should not fade over time.