International News
Emeralds announce spring’s arrival in Natasha Collis x Gemfields collaboration
Just in time for the start of Emerald Month in May – when green buds burst into life, lifting spirits – comes an exciting new collaboration from Gemfields. A world-leading responsible miner and marketer of coloured gemstones – and majority-owner and operator of the Kagem emerald mine in Zambia – Gemfields has joined forces with Ibiza-based jeweller Natasha Collis on two special collections designed to “bring joy to the everyday”. The Natasha Collis Fine Jewellery x Gemfields Ludic and Dancing Duet ranges showcase Gemfields’ Zambian emeralds offset against yellow gold in pieces that balance spontaneity and refinement. Inspired by the dualities of nature, they resound with the joys of spring. The four-piece Ludic collection consists of arresting 6cm drop earrings with oval, pear and round cut emeralds; a striking statement ring with an off-centre emerald; an open bangle with emerald pave; and a necklace with a chain of oval, pear and round emeralds.
Ludic is defined by its free-form shapes, a motif which also provides the design inspiration underpinning the Dancing Duet range. In this second collection, contrasting gold forms are placed two by two, creating an intimate duality of interconnected elements. The Dancing Duet range encompasses two necklaces, cascading Dancing Duet earrings, everyday studs and a beautifully flowing bracelet. Each of these features exquisite emeralds from the Kagem mine, set in sculpted 18k gold pieces, locked together in a graceful dance of playful opposition.

“My love for emeralds combined with Gemfields’ brand ethos inspired me to create this collaboration,” says Natasha Collis, who founded her eponymous fine jewellery brand in London before relocating in 2009 to Ibiza, where she now has a boutique and studio in the rugged North of the island and takes design inspiration from nature. A trained painter, Natasha switched her focus to jewellery design, experimenting with gold and different creations, and she has never looked back.
Her signature style highlights the raw beauty of gold: hand-crafting nuggets into organic shapes, with carefully selected asymmetric gemstones incorporated in a quirky and playful way. Natasha’s designs are, at once, wearable works of art and perfect for layering into every day. Gemfields believes those who mine gemstones should do so with transparency, legitimacy and integrity and that coloured gemstones should create a positive impact for the country and community from which they originate. Kagem – 75% owned by Gemfields in partnership with Zambian government – is believed to be the world’s single largest-producing emerald mine and has been the source of some of the most exceptional emeralds ever seen. “Natasha Collis’ organic, free-flowing designs take us to Ibiza! In these beautiful collections, Zambian emeralds provide pops of green and sparkle, effortlessly elevating a look and demonstrating the playful quality of coloured gemstones. Each emerald is a miracle of nature, having formed over 500 million years ago in the most unlikely of circumstances. Their rarity and unique characteristics set them apart, and make them the perfect choice for collections that are lively, and full of fun,” says Gemfields’ Marketing and Communications Director, Emily Dungey. With emerald the resplendent birthstone of May, it is timely to see Kagem’s treasures take pride of place in these one-of-a-kind designs by Natasha.
International News
Precious metals refining in crisis ; driven by rising commodity prices, limited refining capacity, and tight credit
The precious metals refining industry is in crisis as of January 30, 2026, due to skyrocketing commodity prices, limited refining capacity, and tight credit. Major refiners like Metalor and United Precious Metal Refining have halted new shipments, paused payments, and prioritized existing customers. This stems from a surge in trade-ins—gold hit $5,500/oz before dropping to $4,700/oz, silver reached $50/oz—overwhelming a shrunken U.S. capacity post-2019 closures of firms like Republic Metals.
Root Causes
High prices sparked massive investor and retail sell-offs of jewelry and scrap, tripling purchase volumes year-over-year. Structural bottlenecks persist: U.S. refineries, reduced to dozens, handle reservoir-scale inflows via “garden hose” infrastructure. Debt-financed models exacerbate issues—14-day processing cycles stretched to 60-90 days, payments from 48 hours to 14 days, exhausting credit lines amid doubled prices and interest costs. Banks hesitate to lend amid volatility, like gold’s $700 weekly plunge, making expanded operations unprofitable.
Key metrics
Key metrics underscore the acute strain on the precious metals refining sector: purchase volumes have surged to a 3x year-over-year increase, while gold prices have doubled over the same period; processing cycle times have ballooned from 14 days to 60-90 days, and payment cycles stretched from 48 hours to 14 days; silver recovery timelines now project 6-8 months to clear backlogs.
Capacity expansion lags due to infrastructure, regulations, and training needs. Jewelry retailers suffer cash flow hits from delayed scrap payments, disrupting supply chains like pre-holiday rushes.
Market Outlook and Recovery
Disruptions are seen as temporary liquidity crunches, not insolvency. Gold’s price retreat signals moderation; silver backlogs may take 6-8 months (e.g., Kitco halted silver buys). Stabilization should restore credit and operations, viewed as a historic event demanding better resilience.
Strategic Recommendations
- Refiners: Enhance customer communication, optimize capital, plan long-term capacity. Retailers: Revise cash planning, diversify refiners, inform customers.
- Stakeholders: View as manageable pause; track volatility and backlogs.
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