American Gem (TSE) has started up its second sapphire mine, known as the Dry Cottonwood.
Production from this new operation, combined with the Gem Mountain mine, is expected to result in total production of 5 million carats for the year. Gem Mountain will yield high-quality blue sapphires, whereas Dry Cottonwood is expected to crank out more fancy-colored varieties.
To process the additional raw sapphires, the company has installed four new furnaces at its heat-treatment plant in Helena, Mont.
The heat-treated gems will be shipped to three Sri Lankan cutting factories under contract to American Gem. About 2,500 cut gem stones will be produced daily.
To supply what it calls “unusually strong U.S. consumer demand for Montana sapphires,” the company is seeking additional cutting centers in Sri Lanka and elsewhere in Southeast Asia.
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