#91 FURA unveiling a Game-Changing Sightholder Model in colored industry
Welcome to a groundbreaking episode, where we're diving into the evolving world of colored gemstones. Led by Fura's trailblazing achievements. Recently, Fura captured global attention with the record-breaking sale of a 55.22 ct ruby, fetching a staggering 34 million. Joining us today is Dev Shetty, the visionary driving force at Fura, renowned for introducing the sightholder system to the colored gemstone sphere. In this insightful discussion, we'll unpack how this innovative model reshapes the industry, meeting market needs and emphasizing ethical sourcing. We're set to explore how this strategy promises a stable supply chain and delve into Dev's expert analysis of the colored stone and diamond mining sectors. Additionally, we'll shine a light on China Stone, the inaugural sightholder, marking a significant milestone in this transformative journey. FURA was founded in 2017 as a mining start-up by Dev Shetty, Founder and CEO, with an ambition to create a trusted supplier of colour gemstones. Though colour gemstones are desirable for centuries, the sector was never developed due to lack of investment and absence of large-scale mining players. FURA began with setting up of its Corporate Headquarters in Dubai, UAE, which is located at a strategic geographic crossroads, connecting East and West, North and South providing a convenient access to gemstones cutting polishing centres in Southeast Asia and to FURA’s gemstones mines and end consumers in various parts of the world. Within first four years of incorporation, FURA acquired all its key mining assets, Coscuez Emerald mine in Colombia (year 2018), seven ruby mining licences in Montepuez, Mozambique (year 2019) and Great Northern Mining and Capricorn Sapphire mines in Queensland, Australia (year 2020).