Gemfields Receives License to Fabergé Brand

By JCK Online Staff -- JCK Online, 9/2/2008 9:45:00 AM

Colored gemstone producer Gemfields Resources plc said Monday it has received the exclusive worldwide license to use the Fabergé brand name in regards to colored gemstones (excluding diamonds).

Gemfields, which has production and exploration assets in Zambia and Madagascar, said intends to reserve the use of the Fabergé name for high-end, conflict-free, and ethically mined gemstones of guaranteed provenance. In addition, Fabergé gemstones will be individually numbered and certificated to ensure traceability.

“This is about doing justice to the most remarkable and special colored gemstones in the world,” said Rajiv Gupta, founder and executive vice chairman of Gemfields. “The Fabergé name, one of the most revered in history, captures brilliantly how exclusive such colored gemstones are. Importantly, Fabergé-branded gemstones will be available to a number of carefully selected partners and customers. We expect that the first Fabergé color gemstones will be available in 2009.”

Sean Gilbertson, Gemfields chief executive officer, added: “Colored gemstones were a key theme in the remarkable works of Peter Carl Fabergé. Gemfields’ ability to deploy the Fabergé name on colored gemstones continues that association and adds yet another compelling layer to Gemfields’ vision of bringing high grade, ethically produced, conflict-free gemstones of certified provenance directly from the mine to the market on an integrated basis.”

Gilbertson told JCK previously that the emeralds that will be used for this initiative will come from the Kagem Emerald Mine in Zambia, which Gemfields has a 75 percent ownership interest.

The license, granted pursuant to an option which Gemfields acquired in June 2008, covers an initial 15 year term.

Fabergé and Gemfields are part of Pallinghurst Resources LLP, an advisor to the Pallinghurst Resources Fund, a specialist vehicle which pursues strategic partnerships and investments in the natural resources sector. The company is headed by Brain Gilbertson, former CEO of BHP-Billiton plc., and father of Sean Gilbertson.