It´s enough to drive you up the wall!
Apparently Greenland Ruby ist broke.
After only a few years in business Greenland Ruby shut down the mine in Aappaluttoq in August 2023.
Statements as to the reasons differ widely.
CCO Haley Henning said, said production of ruby and pink sapphire at the site had been behind expectations for the past year or so.
On the other hand Michele Billam, Chief Sales and Merchandising Officer, said in an interview that the company had a large inventory of rough as well as cut stones in Thailand but that "sales have been very low".
In November 2023 we contacted the sales department and were told that operations were suspended only temporarily, to re-organize stock and explore other deposits in Greenland and that they would be back in business in spring 2024.
However, on August 5th, 2023 Greenland newspaper Sermitsiaq reported that the mine had accumulated debts of about € 69 million.
Looks like it´s over.
What a pity! The gem world loses one supplier of responsibly sourced rubies and the Pink Polar Bear Foundation one of its supporters
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