Esmeralda English Version ed

PUBLICATION OF THE COLOMBIAN EMERALD FEDERATION
ISSN: 2422-0906
ISSUE No.13 - 2024
In 2023 emerald exports reached
a record 182 million dollars.
COLOMBIAN EMERALDS
TAKE THE LEAD
INTERNATIONALLY

Macanal, Boyacá
Photo: Guillermo Galvis

PUBLICATION OF THE COLOMBIAN EMERALD FEDERATION
Esmeralda Magazine
Dr. Silvia Alejandra Cuesta
Director of Corporate Mining
Ministry of Mines
ISSUE No.13 - 2024
ISSN: 2422-0906
Editorial Production
Concept and production
Más Click SAS
INDEX
8
Colombian emeralds take
the lead internationally
In 2023, emerald exports reached a record 182 million dollars due to the high
demand for Colombian gems abroad, although production in the mines of
Boyacá has stagnated significantly due to the uncertain future of the industry.
ESMERALDA
4
Dr. Edwin Molina
President of Aprecol, mining sector
presidencia@aprecol.com
Dr. Manuel Antonio Hurtado Pérez
President of Asocoesmeral, trade sector
asocoesmeral@yahoo.com
Dr. Guillermo Galvis
President of Acodes, export sector
presidencia@acodes.org
Dr. Óscar Manuel Baquero
Executive President of Fedesmeraldas
contacto@fedesmeraldas.org
Managing Editor
Fernando Cárdenas H.
Text
Fernando Cárdenas H.
Héctor Sandoval
Laura Calvo Flórez
Translation
Karen Attman
Photography
Fedesmeraldas/CDTEC archive
Ministerio de Minas archive
Guillermo Galvis archive
Image banks: Freepik, Unsplash
Design and layout
Jairo Iván Orozco A.
Orlando Valencia S.
Printing
La imprenta editores S.A.S.
27
34
42
45
INTERVIEWS
18
30
38
Colombian emeralds
face new challenges
Among the challenges is international competition for gem production,
as well as social challenges associated with emerald extraction.
The school of precious gems
With the support of Fedesmeraldas, SENA launched a
comprehensive program to train technicians in gem cutting.
The government is concerned about
the social issue in Western Boyacá
The difficult socioeconomic conditions of emerald miners in that
area of Boyacá continue to be one of the most relevant priorities
for the National Government and for the local authorities.
The success of gemological reports
Several certificates granted by CDTEC GEMLAB make a great
impact on the industry and provide lower-cost security and quality
guarantees for Colombian emeralds.
Edwin Molina
President of Aprecol
Guillermo Galvis
President of Acodes
Manuel Hurtado
President of Asocoemerald
49
NEWS
BRIEFS
21
Social
transformation
in emeraldproducing
areas
Notable social
contributions in western
and eastern Boyacá
are made possible
due to management
by Fedesmeraldas and
resources from the
National Emerald Fund.
ESMERALDA
5

EDITORIAL
Photo: Fedesmeraldas
EDITORIAL
Defending Colombian
ESMERALDS
By: Óscar Baquero,
president of Fedesmeraldas.
A fundamental working point of the industry in 2023 and 2024 is
the new mining policy promoted by the government in its administrative
role in the sector. In different dialogues we have made known
our commitment to the sector, including the reform of the Mining
Code and regulations pertaining to Law 2250 on circular economy.
This has a special element due to the current problem of illegal
mining as well as social agreements with communities in Coscuez.
Faced with this scenario of legal changes, environmental issues
that the national authorities want to promote, and when looking to
the future, Fedesmeraldas strives to link the value chain in emerald
transformation, as Edwin Molina emphasizes in this magazine. This
consists of working with communities to responsibly manage waste.
In addition to efforts made to formalize mining titles in western
and eastern Boyacá in previous years, this year we can say that
the emphasis of changes that affect the economy of our industry
is on SENA’s training for gem cutters. With the collaboration of
Fedesmeraldas, workshops were inaugurated in Bogotá to generate
transformation and emerald cutting in mining municipalities, and
there are plans to establish them throughout the region. These
efforts will ultimately improve mining, tourism and commerce.
This view of social reality in mining areas is made possible due
to the socially focused work done by Fedesmeraldas and the National
Emerald Fund. Some high-impact projects that transformed
the quality of life in these communities include finishing the Muzo
hospital, providing medical equipment for health centers, and building
kindergartens and therapy rooms for elderly care centers in
eastern Boyacá.
ESMERALDA
6
The important thing to understand is that as the sales value of
Colombian emeralds abroad increases, reaching more than 182 million
dollars in 2023, the tax on these exports is aimed directly at
improving living conditions for communities in emerald-producing
areas and defending and promoting the industry. ◆
ESMERALDA
7

MAIN ARTICLE
MAIN ARTICLE
Management Report
Colombian emeralds
TAKE THE LEAD
INTERNATIONALLY
In 2023, emerald exports reached a record 182 million dollars
due to the high demand for Colombian gems abroad, although
production in the mines of Boyacá has stagnated significantly due
to the uncertain future of the industry.
Photo: Fedesmeraldas
ESMERALDA
ESMERALDA
8
9

MAIN ARTICLE
MAIN ARTICLE
“Ideally, the emerald-producing area should be
made attractive to new investors so we can meet
the high demand for Colombian emeralds abroad,”
states Óscar Baquero.
ESMERALDA
10
Official experts in the Colombian
emerald sector believe that
two important factors help explain
the behavior of the industry’s
export figures, which is due to
supply and demand. The dynamic
that has been occurring in other
parts of the planet, such as the
Middle East and Asia, is the high
demand for precious stones in the
international market.
To understand the figure of
182 million dollars in 2023, which
shows a growth of 50% compared
to 2022, we must take into
account the potential of markets
such as China, for example. The
president of Aprecol, Edwin Molina,
analyzed this very well: “To
reach a supplier in China that has
1,500 points of sale in his country,
you must have emeralds for all
those points. And that is a very big
challenge,” he explains.
Even with this worldwide scenario
of high demand for emeralds,
the sector’s supply does not reflect
large waves of growth in the
mines of Boyacá and Cundinamarca.
A look at the 2023 Management
Report of the Administration
and Board of Directors from Fedesmeraldas
shows that exports
in carats fell by 4% in this period,
which shows that production remains
stable and downward.
In practical terms, the figures for
2023 show emerald exports of
USD $182,723,292, mainly represented
by cut emeralds with sales
of USD 144,563,828 (79%) and
rough emeralds with sales of USD
37,999,815 (20.8%). Set emeralds
had sales of USD 159,649, which
represents 0.09% of the total
value exported.
The president of Fedesmeraldas,
Oscar Baquero, speaks of this reality
and maintains that the sector is
going through a time of change and
that the new rules of the game do
not encourage large investments
in emerald production. For a long
time there has been a great effort
to formalize mining titles and now,
with the national government’s
new policies that have a clear interest
in popular economy issues
and projects with environmental
responsibility in mining areas, the
prospective of new mining or investment
titles in these areas does
not have a major impact.
“Ideally, the emerald-producing
area should be made attractive to
new investors in order to meet
the high demand for Colombian
emeralds abroad,” says Baquero.
“At the same time, dialogue and
conversation with the national government
must be productive to
continue supporting social projects
in the area and productive development
in western Boyacá.”
Carats and dollars
The 2023 management report states
that in order to analyze emerald
exports, the number of carats exported
and the transactional value
derived from these operations in U.S.
dollars must be taken into account.
The report states: “Within the total
carats exported, it is necessary to
discriminate the type of transformation
that the emerald has undergone,
that is, whether it corresponds to a
rough emerald, set emerald or cut
emerald, since the added value of
each one is different and therefore
its commercial value differs from one
case to another.”
The two references for emerald
exports (carats and dollars) are compiled
by Fedesmeraldas based on the
emerald transactions processed by
exporters of precious stones with
the National Mining Agency (ANM),
the entity in charge of managing the
State’s mineral resources as well as
monitoring and controlling mining
exploration and exploitation.
Table No. 1. Emerald Export Data in 2023
Period
Rough
carats
Set carats
Cut
carats
Rough carat
value (USD)
Set carat
value (USD)
Photo: Fedesmeraldas
Cut carat
value (USD)
Total
(USD)
January 209,411 0 10,089 155,789 $0 $6,445,371 6,601,160
February 15,159 105 25,828 217,380 $86,000 $21,357,256 21,660,636
March 318,100 0 7,582 607,802 $0 $8,030,915 8,638,717
April 28,178 0 12,290 1,007,366 $0 $10,649,306 11,656,672
May 4,945 57 6,218 119,589 $11,469 $9,001,265 9,132,323
June 289,992 147 15,112 22,959,875 $300 $14,099,203 37,059,377
July 29,597 0 7,524 538,940 $0 $8,926,616 9,465,556
August 14,074 0 17,553 628,840 $0 $11,778,817 12,407,657
September 38,784 3 10,756 445,519 $8,500 $19,098,747 19,552,766
October 135,007 96 10,573 765,406 $42,900 $13,522,652 14,330,958
November 309,826 1,272 13,115 10,321,780 $10,480 $8,954,392 19,286,653
December 13,333,866 0 10720 231528 $0 $12,699,289 12,930,817
Total 1,526,412 1,680 147,360 37,999,815 $159,649 $144,563,828 182,723,292
ESMERALDA
11

MAIN ARTICLE
Graph No. 1 Rough Emerald Exports (carats)
Period 2011- 2023
Table No. 2 Emerald Export
Historical Data (carats)
MAIN ARTICLE
ESMERALDA
12
Carats
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
–
2,948,837
2011
807,507
2,260,137
1,782,059 1,907,407
1,551,549 1,638,451
1,394,057 1,318,381
543,024
Regarding exports of emeralds in
carats, the export results for 2023
show a slight decrease of -4% compared
to the results achieved in 2022,
going from 1.589 million carats in
2022 to 1.526 million carats in 2023.
In monetary terms, this variation
in carats resulted in an increase of
11.3% in sale value, going from USD
34,154,391 to USD 37,999,815.
When reviewing the value of each
carat exported, in 2023 it was traded
on average at USD 25/carat
compared to USD 21/carat in 2022.
Among the reasons that could explain
this variation are aspects such
as the quality of the gem, trading
conditions and the volatility of the
Colombian peso against the dollar,
which, according to data from the
Banco de la República as of January
2024, the peso was revalued at a rate
of 20.54% on December 31, 2023,
considering that at the end of 2023
it closed at $3,822.05 and in 2022 it
closed at $4,810.20.
In the history of exports, we see
that since 2011 exports of rough
emeralds have had a variable behavior,
with some stability over the last
three years despite the pandemic between
2019 and 2021.
2,083,134
1,589,256
1,526,412
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
In the case of set emeralds, 2023
saw a recovery in sales with a positive
variation of 416%, going from 326 carats
sold in 2022 to 1,680 carats sold
in 2023. When reviewing the variation
between the sale value of set carats
between 2021 and 2022, it went
from USD 137/carat in 2022 to USD
95/carat in 2023.
Regarding cut emeralds, in 2023
the export value was 147,360 carats,
representing a 37% decrease. As for
the sale value of cut carats, it is observed
that in 2022 they were sold
on average at USD 379/carat and
in 2023 they were sold on average
at USD 981/carat.
In this regard, Fedesmeraldas supports
training and the transformation
of cut emeralds through an
agreement with Sena (see Sena article)
with the aim to train merchants
and cutters in a variety of techniques
that improve gem transformation.
Record exports
Emerald exports expressed in
monetary terms (dollars) during
2023 reached the figure of USD
182,723,292 with a 49% growth compared
to sales in 2022, which were in
Year
Rough
carats
Cut
carats
Set
carats
2011 2,948,837 26,555 426,958
2012 807,507 20,062 382,993
2013 2,260,137 30,053 334,188
2014 1,551,549 11,334 403,667
2015 1,782,059 8,564 376,487
2016 1,638,451 2,039 359,864
2017 1,394,057 606 278,246
2018 1,907,407 306 249,788
2019 543,024 396 286,423
2020 2,083,134 4,114 65,587
2021 1,318,381 9,721 234,157
2022 1,589,256 326 232,928
2023 1,526,412 1,680 147,360
Variation
2011-2012 -73% -24% -10%
2012-2013 180% 50% -13%
2013-2014 -31% -62% 21%
2014-2015 15% -24% -7%
2015-2016 -8% -76% -4%
2016-2017 -15% -70% -23%
2017 - 2018 37% -49% -10%
2018-2019 -72% 29% 15%
2019-2020 284% 938% -77%
2020-2021 -37% 136% 257%
2021-2022 21% -97% -1%
2022-2023 -4% 416% -37%
the order of USD 122,514,753, as
can be seen in the graph below.
According to the reported export
data, rough emeralds presented a
positive variation, with an increase
of 11.3% from USD 34.15 billion in
2022 to USD 37.99 billion in 2023,
the best result achieved in the history
of rough carat sales.
Set emeralds also had positive results
during 2023, going from USD
44,636 in 2022 to USD 159,649 in
2023, with a variation of 258%.
In the 2023 period, cut emeralds
reached total sales of USD
144,563,828, a figure that represents
a variation of 64%, since in 2022 the
sales achieved in cut emeralds were
USD 88,315,726.
Regarding totals (the sum of figures
exported in dollars of the three
types of emeralds), there is a negative
variation of 5%, going from exporting
USD 129,586 million in 2021 to
USD 122,514 million in 2022.
The role of Fedesmeraldas
The National Emerald Federation
of Colombia, in its role as
administrator of FNE resources
to represent and defend the industry,
guarantees that the resources
from emerald parafiscal collection
are invested in projects that impact
the emerald industry, thus ensuring
that emerald-producing communities
benefit from the different
segments of the value chain. This is
achieved by developing commercial
and promotional projects in which
both exporting entrepreneurs and
local merchants benefit by participating
in international trade fairs
using the Colombia Pavilion as an
exhibition showcase to attract
numerous visitors to Colombian
emeralds, while promoting product
sales (Objective No. 1 of Law 488
of 1998 – Art. 101).
ESMERALDA
13

MAIN ARTICLE
Gráfica No. 2 Histórico de Exportaciones de Esmeraldas (USD)
USD
200,000,000
180,000,000
160,000,000
140,000,000
120,000,000
100,000,000
80,000,000
60,000,000
40,000,000
20,000,000
–
137,110,978
121,929,815
127,076,420
161,220,573
146,472,421 149,908,664
139,171,118
142,466,998
125,578,008
42,516,378
142,466,998
122,514,753
182,723,292
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Table No. 3 Emerald Export Historical Data in Dollars - Period 2011 – 2023
MAIN ARTICLE
Year Rough carat value Set carat value Cut carat value Total exports
2011 USD 5,675,104 USD 432,514 USD 131,003,359 USD 137,110,978
2012 USD 5,274,698 USD 330,868 USD 116,324,250 USD 121,929,815
2013 USD 4,056,362 USD 628,578 USD 122,391,480 USD 127,076,420
2014 USD 10,952,508 USD 707,019 USD 134,812,894 USD 146,472,421
2015 USD 18,297,777 USD 322,887 USD 142,599,909 USD 161,220,573
2016 USD 9,375,627 USD 207,708 USD 140,325,328 USD 149,908,664
2017 USD 12,847,271 USD 213,268 USD 126,110,579 USD 139,171,118
2018 USD 19,907,715 USD 97,651 USD 122,461,631 USD 142,466,998
2019 USD 19,967,380 USD 296,793 USD 105,313,835 USD 125,578,008
2020 USD 9,233,309 USD 121,589 USD 33,161,479 USD 42,516,378
2021 USD 20,276,705 USD 139,174 USD 109,170,831 USD 129,586,710
2022 USD 34,154,391 USD 44,636 USD 88,315,726 USD 122,514,753
Some of the projects in 2023 that promoted
participation in commercial and industry events
were: the 2023 AGTA Gem Show in Tucson,
the Dubai Jewelry and Gems Fair, the 2023 ICA
Congress, the Hong Kong International Jewelry
and Diamond Show in March, the XII edition of
Revista Esmeralda, the 2023 Hong Kong Jewelry
and Gems Fair ASIA in June, the promotion of
emeralds in the 2023 Colombiamoda fair and
2023 Agroexpo, the Jewelry and Gems Fair in
Bangkok and Hong Kong in Sept 2023, the promotion
of Colombian emeralds at the 2023 Feria
del Hogar, the 2023 National Mining Congress
- Minerals for Life, the 2023 FNE Strategic communications
plan, and the promotion of emeralds
at the 2023 Boyacá Expo and Design Fair.
2023 USD 37,999,815 USD 159,649 USD 144,563,828 USD 182,723,292
Variation
2011-2012 -7.1% -23.5% -11.2% -11.1%
2012-2013 -23.1% 90.0% 5.2% 4.2%
2013-2014 170.0% 12.5% 10.1% 15.3%
2014-2015 67.1% -54.3% 5.8% 10.1%
2015-2016 -48.8% -35.7% -1.6% -7.0%
2016-2017 37.0% 2.7% -10.1% -7.2%
2017 - 2018 55% -54% -3% 2%
ESMERALDA
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2018-2019 0.30% 204% -14% -12%
2019-2020 -53.8% -59% -69% -66%
2020-2021 119.6% 14% 229% 205%
2021-2022 68.4% -68% -19% -5%
2022-2023 11.3% 258% 64% 49%
ESMERALDA
15
Photo: Fedesmeraldas

MAIN ARTICLE
MIAN ARTICLE
Photo: Fedesmeraldas
Gráfica No. 3 Exportaciones de Esmeraldas en Bruto (USD)
Periodo 2011- 2023
USD
DEFENDING
40,000,000
35,000,000
30,000,000
34,154,391
37,999,815
the sector
ESMERALDA
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
–
5,675,104
4,056,362
10,952,508
5,274,698
18,297,777
9,375,627
19,907,715 19,967,380
12,847,271
9,223,309
20,276,705
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
In conjunction with Objective No. 2 of Law 488 of
1998 Art-101, an important project to improve competitiveness
was Training Environment Support, which
was promoted hand in hand with SENA. Additionally,
social projects that impact the emerald-producing
community in the area of influence of this beautiful
gem were developed, especially in the fields of education
and health. Those projects included: providing hospital
furniture, appliances and equipment at UBA La Victoria,
moving the Santa Bárbara Educational Institution,
the hospital endowment for the ESE Nuestra Señora de
la Paz Quipama, building physical therapy rooms and
recreational areas in the Quípama Geriatric Center, and
the addition to the kindergarten in Chivor. ◆
The main objective of the National Federation
of Colombian Emeralds, FEDESMERAL-
DAS, is the representation, defense and development
of the emerald industry in Colombia
within the principles of ethics and unity. The
Federation is governed by current legal norms
and in general by the regulations of private
law applicable to its status as a legal entity
and its statutes.
In accordance with the above, FEDESMERAL-
DAS, in compliance with its mission and regulations,
promotes developing and strengthening
the emerald production chain through the execution
of investment projects in compliance
with the objectives of Law 488 of 1998 – Article
101 (Graph No. 1) with resources from the
emerald parafiscal tax which are administered
under the principles of good faith, transparency,
efficiency, economy and responsibility.
Since the signing of contract 013 of 2004 between
the Ministry of Mines and Energy and
the National Federation of Colombian Emeralds,
different projects have been promoted
and developed for the benefit of the emerald
production chain. From 2008 until the end of
2023, FNE investment resources have been
approved for projects totaling more than fifty-seven
billion pesos, which have been executed
in projects that comply with the objectives
defined in Article 101 of Law 488 of 1998. ◆
ESMERALDA
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17

INTERVIEW
The president of the Association
of Colombian Emerald Producers
(Aprecol), Edwin Molina,
mentions how the mining sector
has responded to the social,
environmental and labor policies
promoted by the government and
highlights the social role of the
industry over the past year.
INTERVIEW
ESMERALDA
18
Edwin Molina:
We have to promote
investment in the emerald
INDUSTRY
What was the analysis
of the sector’s
behavior in 2023?
In general, the industry’s mining
operations are the same, but we can
see the effort made by Fura Gems
Coscuez, a company that held some
important auctions. A large part of
the increase in export value had to
do with their findings. Additionally,
the majority of those who won those
auctions were Colombians that
transformed them and exported
them already cut. The model that the
company put into practice consists
of showing the lots in Dubai or Thailand,
then returning them to Colombia
and showing them in Colombia.
Or vice versa, first in Colombia and
then abroad. That way they receive
offers from both Colombians and
foreigners. The first auctions were
mostly won by foreigners and the last
auctions were won by Colombians.
How were the sector
and companies involved
with the policies that the
government is promoting
regarding mining, above
all involving social
and labor issues?
The industry has been working
with the government, both the national
government and the departmental
and local governments. This
year, new mayors came in and we
have been able to work with most
of them. Currently, the most critical
issue is the social issue in Coscuez
due to the problem of illegal mining.
In the mining districts of Muzo and
Maripí, we are working to create
agreements with those communities
to take advantage of industry
waste. Work is being done with
the government to reform the Mining
Code. We have been in several
meetings to discuss industry points
of view and the initiatives that the
government has. We are also working
to propose regulations for Law
2250 in terms of mining and circular
economy, which opens a door for
us to be able to organize activity in
managing waste.
The government also wants to
start creating value chains with mining
industries. We’re starting to
organize the value chain regarding
transforming emeralds and involving
communities in the cutting process.
With Fedesmeraldas and SENA,
workshops were inaugurated in Bogotá
and we have the same goal in
other regions. In other words, we
support the value chain for emerald
transformation and cutting as well
as extending training to mining municipalities.
We also seek to improve
the value chain involving mining,
tourism and commerce, which we
consider to be super important for
the region and the industry.
In what ways do the
industry and related
companies participate in
environmental issues?
We have already been working
for several years on organizing the
environmental aspects of companies
and the region. For example,
we participate in creating the POM-
CA (Watershed Management Plan)
in the Carare-Minero River, which
is a planning tool regarding the
adequate use of natural resources.
The government did watershed studies
through regional autonomous
corporations such as Corpoboyacá,
the CAR (Cundinamarca) and
CAS (Santander) so that the environmental
parameters are already
established. Additionally, the main
mining companies all have their environmental
instruments.
With respect to social
issues of producing
companies, how
important is the National
Emerald Fund (FNE)?
The work of the FNE is very important
because it helps potentiate
large-scale projects, such as the Santa
Ana Hospital in Muzo as well as
the many resources that have been
invested in health and education.
The contribution of companies, the
government and mayor offices, have
made it possible to complete several
projects that would be very difficult
to do without this co-financing.
How does the FNE
contribute to development
in mining municipalities?
Fedesmeraldas, as administrator
of FNE resources, has taken the
initiative to open communication
with Community Action Boards
to understand the priorities of the
ESMERALDA
19

INTERVIEW
SOCIAL IMPACT
ESMERALDA
In China there are
places that have 1,500
jewelry stores. Putting
emeralds in each store
would require batches
of 1,500 gems. But the
supply is low. There
are other countries
and other stones,
sapphires and rubies,
which are produced in
greater quantities.
region in social matters. From there,
they invest in diverse sectors, for
example in health. They have invested
in studies so that municipalities
can update their land use planning
(EOT) to generate development.
This is an essential issue. If a municipality
does not have an updated
EOT, it loses investment. For example,
if a company wants to build a
hotel and cannot use the land, then
they cannot build. Updating the
EOTs is necessary to carry out any
type of project, not just mining. In
that way FNE is important to develop
the region, and as always
they continue to promote emeralds,
organize fairs, and support
small merchants.
How has tourism improved
in western Boyacá?
Tourism has been growing, and
improving roads has also helped a
lot. Many kilometers of roads have
been improved, so now you can
practically go by car to San Pablo de
Borbur, for instance, and do a tour.
What are the current
challenges for the industry?
Right now, our priority is to coordinate
goodwill between companies,
new local mayors and the government
to permanently solve the issue
of waste, which is always a critical
issue in the region. We also want
to encourage more investment and
develop value chains relating to cutting
and tourism.
To what degree are
emeralds valued
internationally?
We believe that the market will
continue to demand the best emeralds
in the world, which are Colombian
emeralds. However, we
want to analyze what future factors
could impact the industry, such as
laboratory emeralds. On the other
hand, it is important that our emeralds
continue to fulfill a social role
in Boyacá so that they continue to
be recognized not only as the best
in the world regarding quality, but
also in sustainability.
What can be done to
encourage investment
in the Colombian
emerald industry?
I believe that it is very important
that those involved, mainly institutions,
help promote investment and
development in the mining industry.
The world emerald market demands
more emeralds than we produce,
and that the social benefits for
the region could be greater if there
is greater investment in emeralds
and therefore more employment
opportunities.
Currently, the three largest emerald
operations don’t reach 800
hectares. It’s very small. There are
more than 200 unexploited mining
titles. Obviously, you can’t do mining
everywhere, but there is still
a very big potential to grow as an
industry and continue to scale and
position Colombian emeralds.
Can you
outline the potential?
The lack of production means we
don’t have the growth that should
be taking place, and industries
aren’t being reached. In China there
are places that have 1,500 jewelry
stores. Putting emeralds in each
store would require lots of 1,500
gems. Our current supply is low,
and there are other countries and
other stones, such as sapphires and
rubies, which are produced in greater
quantities. Those same jewelry
stores choose to not use Colombian
emeralds and use either other
origins or other gems. If Colombian
emeralds manage to be sustainable
in terms of production, the potential
will grow much more.◆
As a result of management by Fedesmeraldas and resources
from the National Emerald Fund, social contributions in
western and eastern Boyacá are palpable and are seen
in diverse projects that improve the quality of life for
local communities.
Social Transformation
in Emerald-producing
AREAS
ESMERALDA
20
21

SOCIAL IMPACT
SOCIAL IMPACT
referrals that have low complexity to other
institutions while providing timely diagnosis
and treatment.
The population in the project’s area of influence
includes about 5,080 people who live
in Quípama (Boyacá), of which 1,535 correspond
to the municipal capital and 3,545 to
towns and remote rural areas.
ESMERALDA
22
Based on the mission of Fedesmeraldas
to “execute social and
economic development programs
to improve living conditions in
emerald-producing communities,
directly or through agreements
with territorial entities,” in 2023
diverse projects were carried out
that had a huge social impact on
local communities.
According to the president, Oscar
Baquero, both in western and in eastern
Boyacá they managed resources
for projects that have a high component
of social commitment and impact
on issues regarding guarantees
of fundamental human rights. “In
health, education and infrastructure,
our commitment in working
with different authorities to improve
the conditions in emerald areas is
fundamental,” he explains.
To name one of these processes,
the Muzo hospital is one of the most
powerful projects when it comes to
showing results. For Edwin Molina,
this initiative will help thousands of
families in the emerald capital and is
one of the most important milestones
in the social work by companies
in the industry using resources from
parafiscal taxes managed by the
FNE. “A lot of resources have been
invested in health and education.
Due to the contribution of companies
and government and mayors’
offices, diverse projects are completed
that could not be done without
this co-financing,” he clarifies.
The 2023 Fedesmeraldas management
report stated that another
outstanding project was equipping
the hospital for the UBA in La Victoria
for more than 1,132 urban
and rural residents. Modernizing
and equipping the UBA (Basic Care
Unit) provides the necessary conditions
to implement Comprehensive
Care routes that provide preventive
health measures in cardiovascular
disease and perinatal maternal care.
Similarly, they supported the
hospital endowment project by
providing necessary equipment
for the Nuestra Señora De La Paz
ESE in Quípama. The central objective
of this project is to reduce
In terms of education, in the east of the
department progress was seen in building
the Chivor kindergarten in the urban area
that could potentially benefit 85 children
between the ages of 0 and 5 (SISBEN figures).
However, only 30 the center, so by
adapting, improving and rebuilding the space
they will have better conditions to serve
a larger population. The project budget is
$363,428,748 pesos, of which $36,342,874
was contributed by the municipality of
Chivor and $327,085,874 by the FNE.
Similarly, the Santa Bárbara educational
institution was moved to improve conditions
in the educational system and
develop skills of the school-age population
in San Pablo de Borbur. There are
educational spaces that promote cultural,
social, ethical, sports and environmental
activities.
ESMERALDA
23

SOCIAL IMPACT
SOCIAL IMPACT
In the same eastern area, they continued
to build physical and recreational therapy
rooms for the elder care home in Manacal.
The project seeks to provide comprehensive
care for more than 50 people and improve
the infrastructure of the Senior Care
Center to have adequate spaces for activities
that improve the lives, well-being and
comfort of beneficiaries and to help them
maintain a good physical, mental and emotional
condition.
Promoting the industry
Within the framework of Fedesmeraldas’ objective
to “defend, promote and develop the
Colombian emerald industry in the exploration,
establishment, transformation, control,
certification and marketing phases,” they periodically
promoted participation and attendance
at different events such as national and international
trade fairs, congresses, and meetings
with laboratories and international jewelry and
precious gemstone associations.
The important factor in all these events was
to be present and display Colombian emeralds
to representatives of other gemstones and
also direct competitors from countries such as
Zambia, Afghanistan and Brazil. These spaces
are used to defend the interests, advances and
challenges of our industry through different
types of participation.
In 2023 representatives of the Colombian
emerald industry, including exporters, traders,
union representatives and, in some cases,
members of the CDTEC and emerald artisans
were present at various events. This boosted
emerald exports and the sale of gold and silver
jewelry by merchants associated with Asocoesmeral
who were selected to participate in
trade fairs. Also, industry representatives participated
in academic and sectoral events that
facilitated the exchange of information and discussion
regarding the gemstone industry.
If we look at the graphs showing export behavior
in some periods of 2023, the highest
sales correspond to the months of February,
March, May, June, August, September and October,
months in which exporters prepare to
attend and participate in the most important
jewelry and gemstone trade fairs in the world,
such as the Las Vegas Fair, Hong Kong (March,
June and September), Bangkok and Dubai.
Graph No.1. Impact of Commercial Fairs on Export Results (2017- 2023)
40,000,000
35,000,000
For example, it should be noted that in 2020,
a period affected by the COVID19 pandemic
that closed borders, emerald exports fell significantly.
Although in 2021 borders were opened
and the economy could begin to recover, it
wasn’t until 2022 and 2023 that Chinese markets
totally opened and exports reached values
similar to those in 2017 and 2018.
30,000,000
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
ESMERALDA
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
ESMERALDA
24
25

SOCIAL IMPACT
MINISTRY
Table No. 1. Revenue Projection vs. Executed Revenue
Period
Projected
revenue
Executed
revenue
Difference %
Parafiscal tax collection
To better understand the FNE’s revenues,
it should be noted that they
come from two sources. The first source
corresponds to income from parafiscal
tax collection on emeralds, and the
second one corresponds to taxes from
portfolios of emerald exporters in previous
years, which is part of the gemstone
sales abroad.
The revenue projection for 2023 was
made using the results of 2022 as a reference,
with an encouraging outlook considering
that Colombia and the world
showed positive signs of recovery from
the COVID19 pandemic. Thus, estimated
income for the 2023 period corresponded
to $4,986,472,734 pesos.
JANUARY $297,410,280 $412,401,688 $114,991,408 139%
FEBRUARY $492,729,875 $966,071,838 $473,341,963 196%
MARCH $358,820,852 $526,997,567 $168,176,715 147%
APRIL $272,965,599 $383,268,351 $110,302,752 140%
MAY $346,295,318 $431,302,029 $85,006,711 125%
JUNE $520,889,097 $1,519,688,898 $998,799,801 292%
JULY $371,367,376 $379,435,753 $8,068,377 102%
AUGUST $646,617,439 $492,342,740 -$154,274,699 76%
SEPTEMBER $439,822,019 $566,433,206 $126,611,187 129%
OCTOBER $613,560,227 $627,733,581 $14,173,354 102%
NOVEMBER $310,366,632 $0 -$310,366,632 0%
DECEMBER $315,628,020 $0 -$315,628,020 0%
TOTAL $4,986,472,734 $6,305,675,651 $1,319,202,917 126%
Figures in Colombian pesos. Source: FIDUCOLDEX
It is positive to mention that starting with this period,
that is, from 2021 onwards, results have been encouraging.
This is due to the effort made by the emerald industry
and the National Government to seek out new commercial
opportunities for Colombian emeralds in destinations
such as the United Arab Emirates, Dubai and Thailand
while they waited for the borders with Hong Kong
to reopen, which occurred at the beginning of 2023. ◆
Table 2. National Emerald Fund Income History
Hong Kong,
Colombian Emeralds Face New
COMMERCIAL AND
SOCIAL CHALLENGES
Year
Amount
collected
Variation
Year
Amount
collected
Variation
ESMERALDA
26
2004 $4,065,736 ---
2005 $1,690,221,535 ---
2006 $2,134,533,765 26%
2007 $2,666,715,242 25%
2008 $3,131,035,977 17%
2009 $1,905,708,022 -39%
2010 $2,347,460,862 23%
2011 $2,588,935,170 10%
2012 $2,243,794,800 -13%
2013 $2,600,230,467 16%
2014 $3,205,338,708 23%
2015 $4,457,814,345 39%
2016 $4,645,165,984 4%
2017 $4,495,563,575 -3%
2018 $4,636,232,306 3%
2019 $4,269,069,643 -8%
2020 $1,767,030,296 -59%
2021 $5,118,730,794 190%
2022 $4,953,449,215 -3%
2023 $6,305,675,651 27%
Figures in Colombian pesos. Source: FIDUCOLDEX
Among the new challenges is international
competition in gem production, which
moves Colombian producers to build
differential strategies. On the other hand,
social challenges associated with emerald
extraction are ongoing.
ESMERALDA
27

MINISTRY
MINISTRY
ESMERALDA
28
By: Silvia Alexandra Cuesta
Director of Corporate
Mining of the Ministry of
Mines and Energy
TThe Colombian emerald industry,
which is recognized worldwide
for producing high quality, beautiful
gems, faces significant challenges
today. Despite its long tradition and
prestige, a series of commercial and
social challenges arise that require it
to adapt strategically to maintain its
relevance in the global market.
First, in the commercial sphere,
international competition has intensified.
Countries such as Zambia and
Brazil have increased their emerald
production by offering alternatives
at competitive prices. This situation
forces Colombian companies to highlight
what sets them apart, such as
the quality and uniqueness of their
gems, as well as the history and tradition
that support them.
On the other hand, consolidating
emeralds as a luxury item implies
meeting a demand that is subject to
economic fluctuations and market
trends. Companies must be attentive
to these dynamics and adapt their
marketing and sales strategies to
maintain the attractiveness of their
products in an increasingly demanding
environment.
Along with innovation and investment
in technology, they also need
to adopt more efficient and sustainable
mining techniques, as well as
explore new designs and applications
for emeralds.
But the challenges are not limited
only to the commercial sphere, since
this industry also faces important
social challenges. Despite the wealth
they generate, mining regions often
face high levels of poverty and inequality.
According to the Constitution,
the social function of owning
property guides companies to invest
in local development such as infrastructure,
education and employment
opportunities for local communities.
Formalizing traditional mining is
crucial to ensure a more equitable
distribution of benefits and reduce
negative impacts on the environment
and society. The synergy between
business, government and communities
is critical to achieving this goal.
It is therefore incumbent upon
companies to commit to responsible
and transparent practices, promote
the traceability of gems, and ensure
compliance with social and environmental
standards.
The National Government is committed
to the future of the Colombian
emerald industry and to promoting
the ability to adapt to international
markets, to emphasize reindustrialization
and generate value by building
a more competitive, sustainable and
equitable sector. Colombian emeralds
have the potential to continue
to shine in the global market and, to
achieve this, it is necessary to count
on the joint commitment of all the
actors involved. ◆
“In addition to
innovation and
investing in technology,
we also need to
adopt more efficient
and sustainable
mining techniques.”
COLOMBIA IN
TUNE WITH THE EU ON
Fair Energy Transition
In a global context of climate urgency
and accelerated biodiversity loss, the
recent dialogue between the European
Union (EU) and Latin America and the
Caribbean (LAC) marked a significant
milestone. With the theme of Nature-Based
Solutions (NbS), leaders and
experts met in Brussels to explore
joint strategies to address these environmental
and social challenges.
During the international dialogue on
Nature-Based Solutions (NbS), the Director
of Corporate Mining of the Ministry
of Mines and Energy of Colombia, Silvia
Cuesta, opened a discussion on NbS
as an alternative for mine closures within
the framework of energy transition, explaining
three fundamental strategies during
the event: promoting energy communities,
productive diversification and
implementing new financing mechanisms.
These initiatives were outlined not
only with the aim of democratizing
access to energy, but also to support
the local economy and reduce dependence
on traditional resources.
This multifaceted approach reflects
Colombia’s commitment to promoting
sustainable and collaborative
practices in the energy sector, aligning
with global and regional development
goals.
By: Mónica Victoria Mancera / Communications
Direction of Corporate Mining,
Ministry of Mines and Energy.
The dialogue also emphasized
the specific regional challenges faced
by LAC countries in implementing
NbS, including the need for adequate
financing and technical capacity building.
However, it was recognized that international
collaboration and knowledge sharing
offer significant opportunities to overcome
these barriers.
Among the main conclusions of the event
is the importance of raising awareness in
society about the benefits of NbS, as well
as the need to establish policies that support
their implementation at the global
level. The EU, for its part, reaffirmed
its commitment to implementing NbS
through the recent Nature Restoration
Law, which aims to regenerate degraded
ecosystems and improve environmental
and food security.
This first EU-LAC dialogue on Nature-Based
Solutions marks the beginning
of an ongoing and structured collaboration.
Future meetings and programs such
as Horizon Europe are expected to further
strengthen the links between scientific
communities and implementation
initiatives. This will not only benefit the environment,
but also promote sustainable socio-economic
development in both regions.
In conclusion, the just energy transition
and NbS represent not only a path to environmental
sustainability, but also an opportunity
to positively transform local economies.
Commitment and collaboration are key
to achieving these shared global goals. ◆
ESMERALDA
29

INTERVIEW
INTERVIEW
Guillermo Galvis:
Now it is More
Complex to
EXPORT
EMERALDS
ESMERALDA
30
Guillermo Galvis, the president of Acodes, the exporting guild for
emeralds produced in Colombia, explains that the sector faces
important challenges, including longer export times for gems due to
additional procedures and a contraction in international demand due
to a marked global uncertainty.
In 2023, was the balance
positive for emerald
exporters? Could
2024 be the same?
In 2023, exports were USD
$180 million. But in 2024 we see
reductions in foreign sales and activity.
Now it is more complex to
export emeralds.
Since Colombia now takes up to
six days to export, customers are
opting to buy from other countries.
Normally, customers come here to
make purchases in a period of no
more than a week, and they want
to take the gems with them.
The export process used to take
30 or 40 minutes. But now we’re getting
to the point of a six-day delay.
What is the reason for
this current delay in
exporting? Customs?
For the most part, it has to do
with the National Mining Agency
(ANM), where the process is becoming
complicated. New forms
and requirements are being created
that did not exist before.
The UPME is in charge of determining
the value of royalties. Now,
part of the approval process, which
involves checking that the merchandise
exists and that the royalties have
been paid, the ANM has included a
gemological evaluation (which might
be done in a laboratory), a price valuation,
and also a document review.
A process that was very fast became
complex, and that is the issue.
Added to this is the fact that we
are in a complex international situation
characterized by a lower
demand for emeralds. That is why
we need to have better distribution
channels, because the usual ones
are a little damaged.
It is true that the global
economy has changed.
But why has the demand
for products like
emeralds decreased?
There is global uncertainty. That
has an impact on purchases. In
addition to this, there are other
sources of emeralds that are not
Colombian, so now we have to
compete. It’s a combination of low
global demand and a complication
with Colombian exports.
To how many markets does
Colombia sell emeralds?
Between six and eight, but they
are exported to 15 countries.
Among the main clients are: United
States, China, Thailand, Hong
Kong, United Arab Emirates
and Switzerland.
30 COMPANIES
are responsible for producing emeralds,
and five of these represent the largest one.
ESMERALDA
31

INTERVIEW
INTERVIEW
Hong Kong
Photo: Mstyslav Chernov
Taken from wikimedia commons
Thailand is a very important
center, and they are an important
competition for Colombia because
precious stones such as rubies, sapphires,
amethysts, among others,
converge in its market. Since they
have an advanced market that has
been in place for five decades, they
also do cutting and treatment. That
is why we are developing commercial
activities.
ESMERALDA
32
With these conditions, are
there many opportunities
to reach other markets
with Colombian emeralds?
It is not easy. Therefore, when we
talk about new markets, we refer
to countries that are consolidating,
such as Thailand, the Emirates and
Turkey. Some are already consolidated,
such as China, Hong Kong,
Europe and the United States.
Some emerald producing
countries, such as
Brazil and Zambia, are
positioning themselves
on the scene. Is this a
concern for Colombian
producers and exporters?
Under normal sales conditions,
there is no problem with other
producers handling different quality
products. But since it is now difficult
to buy in Colombia, buyers end
up acquiring other emeralds mainly
due to logistics and costs, rather
than quality. This significantly impacts
Colombia’s emerald trade.
Speaking of international
industry fairs, what’s new?
We are working on the fairs in
Hong Kong, and we started working
on those in Thailand and the
Emirates (the latter in December).
300 MINING TITLES
associated with
the extraction of
emeralds currently
exist in Colombia.
Is there government
support for this
commercial strategy?
For 25 years the emerald industry
has had the Parafiscal Fund,
which has covered some of those
promotional activities. In addition,
we have had important support
from the Ministry of Commerce
and Procolombia.
Although we do not receive financial
resources from these entities,
we do receive guidance and
accompaniment. This has allowed
us to create guides that show off
the Colombian emerald, and each
embassy receives that information.
That support is vital.
2023 closed with an
encouraging balance of USD
$180 million. Will foreign
sales of emeralds reach a
similar number this year?
I think in the order of $100
million to $120 million, in the
most positive case.
How much has the
landscape changed with the
arrival of new players in the
local industry?
Over time, mining development
has required greater technical
structuring and engineering, greater
financial capacity and different
business cycles. Sustainable mining
is a challenge.
Any mining development activity
requires between USD $40 and
$60 million. Large companies that
have this capacity are required.
Regarding the technical
terms of the export
process, taxes and
contributions, how are the
taxes that remain to the
country organized?
First, there are the royalties that
go to the Treasury (they are paid at
the mine entrance or are paid by
the exporter at the time of sale).
“We are working on the fairs in Hong Kong and starting
to work on the ones in Thailand and the Emirates.”
Second, there are parafiscal ones
that go to the National Emerald
Fund. These are the two taxes.
Emerald export activity produces
annually about $20 billion
directly in taxes for the country,
not to mention that most
mining contracts include direct
remuneration clauses that are
paid by producers.
What makes Colombian
emeralds superior in quality
to those of other countries?
This has to do with chemical-geological
issues. Colombian
emeralds originated in different
conditions than the rest of the
world. 96% of emeralds were formed
in igneous and metamorphic
shale rock. Such rocks are about
500 million years old or more.
But our emeralds were created in
a different sedimentary rock.
The environment in which sedimentary
rock formed had a lot to
do with seabeds, salts and different
substances that increased the proportion
of vanadium and chromium
in relation to iron. Emeralds are
beryl, there is no doubt, but what
gives them color is the mixture of
chromium, vanadium and iron. Colombian
emeralds have less iron
in relation to vanadium and chromium,
so there is a noticeable chemical
difference.
How is the emerald
industry implementing
sustainable processes?
In terms of sustainability, there
are elements such as working with
clean energy and water management,
since groundwater has a high
mineral content that can be toxic,
so it is processed with special filters.
In addition, the Parafiscal Fund
invests in renewable energies for
schools and nearby enterprises. ◆
ESMERALDA
33

TRAINING
TRAINING
ESMERALDA
34
The
GEMSTONE
SCHOOL
In 2010, SENA, with the support of Fedesmeraldas, launched a
comprehensive program to train technicians in gem cutting for jewelry.
It had such good results that a promising second stage was launched
this year with an investment of $2.6 billion.
Although it is known that Colombia
is the world’s leading producer
and exporter in the global emerald
market, the increasingly sophisticated
cutting of these precious stones
that is done today in the country has
become more common and is attracting
increasingly more attention
in markets where these gems are
sold. These emeralds are desired
for their unique shine, hardness and
particularly intense deep green color
derived from elements such as vanadium
and chromium.
Proof of the commitment this important
mining sector has to adding
value is that since 2010 the National
Training Service (SENA) and Fedesmeraldas
joined forces and launched
a unique free program aimed at
training and certifying technicians in
gem cutting for jewelry. At that time,
SENA already had expert instructors
in jewelry and cutting and saw the
opportunity to go further, with the
help of Fedesmeraldas, in training artisans
and creating its own program.
Raúl Beltrán, instructor in precious gemstone cutting.
Professor Raúl Beltrán, a professional
educator who has worked
as a SENA instructor since 2000,
learned the art of gemstone cutting
from a family member and was one
of the pioneers who contributed to
making the first agreement between
SENA and Fedesmeraldas a reality
in 2010 to train technicians in gem
cutting (in particular, emeralds).
That dream, as Beltrán recounts
as he walks through the training
space known as ‘Salón Esmeralda’ in
the SENA installations on Carrera
30 in Bogotá, began with a handful
of conventional cutting machines
and a high expectation of attracting
young ones to learn the trade.
“We started with short courses
and just four machines. Fedesmeraldas
contributed at that time.
But there came a time when more
jewelers came, people from other
countries, more cutters who needed
to be certified, and others. We
have certified two technicians per
year since 2010. That means, to
date, about 28 technicians have graduated,”
says Professor Beltrán as
he shows the reconditioned cutting
machines which can challenge the
best craftsman.
ESMERALDA
35

TRAINING
TRAINING
Some of the
resources provided
by Fedesmeraldas
for this new
agreement focusing
on technology
have already
been invested in
reconditioned
conventional
machines for
gemstone cutting.
A second partnership
The results obtained from the first
partnership in 2010 were crucial for
SENA and Fedesmeraldas to consider
a second stage of training focused
on innovation. This led to creating
a second agreement between the
SENA Materials and Testing Center,
the SENA Regional Bogotá, and Fedesmeraldas
for $2.6 billion that not
only aims to educate gemologists and
jewelers, but also support businessmen
and entrepreneurs in the sector,
which directly involves areas of Boyacá
that produce emeralds.
As Professor Beltrán explains, some
of the resources provided by Fedesmeraldas
for this new agreement
focusing on technology have already
been invested in reconditioned
conventional machines for gemstone
cutting, new American precision
cutting machines (along with software
for 3D gem modeling), gemological
equipment for stone identification,
microscopes, refractometers,
and polariscopes.
“With this new equipment, we are
already working on a program for
gemstone designs and fantasy cutting.
A drawing is generated and replicated
in the precision machine. In traditional
processes, this is done more by sight,
hearing and hand,” says Beltrán.
As Rubén Darío Montoya, deputy
director of SENA’s Materials and
Testing Center, explains, of the $2.6
billion in the agreement, $1.2 billion
were allocated to acquiring the latest
generation equipment previously
described. In turn, the remaining $1.4
billion have a key objective: to contribute
to training new artisans and technicians
in emerald and jewelry cutting
in municipalities that produce precious
stones such as Chivor, Muzo, San Pablo
de Borbur, Maripí, and others.
“We want to encourage young
people to be artisans, not just miners.
We will work on this with SENA’s Boyacá
Region,” says Beltrán, who adds
that this project for emerald-producing
areas will bring cutting and jewelry
machinery and equipment to nine
emerald producing municipalities.
Likewise, Montoya adds that “training
people in emerald-producing
areas is one of the significant benefits
of this alliance. This commitment
and joint effort seek to contribute
to the economic and social development
of communities around the
country, which generates tangible
benefits for the community and regional
progress.”
This second agreement, as reported
by Óscar Baquero, president of
Fedesmeraldas, will end up benefiting
about 600 entrepreneurs, artisans
and jewelers with free training and
SENA certification. “The aim is to
reindustrialize the processes in the
sector and SENA is key to train those
who are in the emerald business.
Cutting is the added value, and this
knowledge has been passed down for
generations,” he says.
And, according to Baquero, this
SENA program provides tools that
open doors for young people. “The
emerald industry is local, so we
want to encourage students, and
we want people who know how to
do cutting, make jewelry, create software,
and more. Incidentally, that
also helps boost the popular economy,”
he says.
This partnership also aims to close
productivity gaps in the sector, support
productive chains and diversify
the supply that entrepreneurs and
emerald miners currently count on.
Opportunities that shine
The students of SENA’s jewelry
and gem cutting technician course
have not only been able to learn the
secrets of a complex trade, but have
also been called to work with foreign
companies operating in Colombia.
And, as Professor Beltrán emphasizes,
those who finish the training have
the endorsement of SENA, which is
recognized by the emerald industry.
“There are many models for people
to be certified and also entrepreneurship
components for training.
Along with Fedesmeraldas, we try
to have an impact on this and to encourage
young people by means of
this program that does not focus on
making money, but rather creating
art with technology,” concludes Professor
Beltrán, who has great expectations
that this program will continue
to engage new members from
schools and low-income sectors not
only in Bogotá, but also from other
parts of the country. ◆
ESMERALDA
ESMERALDA
36
37

ENTREVISTA
ENTREVISTA
ESMERALDA
38
Manuel Antonio Hurtado Pérez
The cutting of Colombian emeralds:
A NEW
BEGINNING
Manuel Antonio
Hurtado Pérez, the
new president of
Asocoesmeral, reveals
the main strategies to
support the mining
sector at the national
level and calls on
emerald producers
to work as a team to
continue growing.
Manuel Antonio Hurtado
Pérez is the new president
of Asocoesmeral.
From his childhood he
had a connection with
emeralds, since his father
worked at the Bank of the
Republic and oversaw the
Muzo mines. He grew up
listening to the fascinating
stories his father told him
of the world or emeralds.
Although he studied public
administration, his fascination
with gemstones led him to
train as a gem cutter at Sena in
Popayán. In his career, he worked
as a professor at SENA and
feels it has been rewarding to help
young people who want to understand
the Colombian emerald.
So far in his administration he
mentions the importance of supporting
tourism, fairs and gem
cutting training so that the sector
continues to grow and be stronger
around the country.
What was done in 2023
with Asocoesmeral?
Last year, Asocoesmeral worked
on boosting the local emerald market,
because there is not much consumption.
In other words, domestic
consumption in jewelry stores is very
low. People want silver jewelry with
emeralds. Because they have in their
heads that emeralds are incomparable
stones, very expensive. And
that’s not true, there are emeralds
that are beautiful and within reach
from $80.000 pesos. So they end
up with silver. The problem was that
someone said: “Well, I’m going to
buy emeralds, mainly Italian or Thai
silver, or Indian, and I’m going to remove
the central stone and I’m going
to place an emerald on it.” And of
course, that was the boom.
Those people who started doing
that did very well. And Cartagena
and the whole country was filled
with this type of jewelry, but the
problem is that the jeweler’s labor is
not represented. In the end they are
buying something abroad, importing
it, and placing an emerald on it. He
buys it for $30 or $40,000 pesos and
sells it for $150,000 pesos, because
the emerald he places on it can
cost another $30,000. And in that
transaction, in each ring, he earned
money and it was good, but it didn’t
boost the local market.
My intention is that we begin to
generate a project for national products.
The work of national jewelers,
Colombian cutters, Colombian emeralds
of different qualities, with and
without treatment and that reflect
our cultural identity.
Before there was war, but today
there is peace, and Colombia is a
place where tourism began to grow.
So we have to promote the local
market and focus on tourism from
handicrafts on any level. We must
integrate more people in the process,
including the guaquero, miner,
cutter and merchant. Because it is
not fair that emeralds are exported
in the rough, because once they are
extracted from the mine, someone
else takes control of them and
takes them out of the country, and
that doesn’t increase the tax contribution.
But if that same emerald is
cut in Colombia, set in Colombia and
exported, there are more families
who are going to live off it.
And how will they do that?
For the past three years we had
been working with Mr. Álvaro Rojas.
I was in Fedesmeraldas about 12
years ago, really since I was in SENA,
and I supported Fedesmeraldas
and Asocoesmeral a lot when we
went to fairs. Last year we went to
Agroexpo, to Feria del Hogar and to
fairs in Medellín, Cali and Tunja, that
is, one of the national strategies is to
exhibit at fairs and improve the product.
That is, to insert into the entire
production process the Colombian
jeweler and his workforce. The
other strategies would be to boost
tourism and improve cutting.
How have they
improved cutting?
For the past three years ago we
have been working on a project with
Mr. Álvaro and last year we spoke
with Óscar Baquero. I said to them,
“Why don’t we bring some Ultratec
machines? This has already been
shown to work, for example, in the
CTT Free Trade Zone. They have
about 30 cutters and they all work
with Ultratec, and if they can, why
can’t we? Well, because we need
to be trained.”
So it started with a group in SENA.
We’re going to cut gemstones in
round and square shapes. I told
them: “It is possible we will take the
first step in this course.” And we’ve
Let’s start a project based on a natural product:
the labor of Colombian jewelers and cutters with
Colombian emeralds.
ESMERALDA
39

INTERVIEW
INTERVIEW
ESMERALDA
40
been there for two weeks now, on
Wednesdays and Thursdays. There
are four very good guys. Two of
them learned with me in the workshop
and the other two were adopted.
One brought his sister and the
other one brought a lady who had
nothing to do at home.
What do they learn in
the workshop?
We are improving cutting. When
we cut on our conventional machines,
there is a lot of error. So as a
cutter, you end up fixing mistakes.
I’m going to give you an example,
you had to put an emerald in hole
15 and the stick in position 4, and
by mistake, I put it in position 14 and
the stick in position 3. So, a mistake
was made and it has to be fixed. To
do this, the stone must be cut, and
each point on an expensive stone is a
lot of money. For a 100 million pesos
stone –that weights a carat–, a carat
is 100 points. A one point error is
worth one million pesos. So people
say: “No, those machines are very
expensive.” Yes, they are expensive,
but they minimize errors because
you graduate the angle, you are not
going to make a mistake.
What is the purpose
of the project?
That people improve everything involved
with symmetry corresponding
to the proportions of the gemstone.
There should be no extra volumes.
There is a variable, which is color, cut
and weight. To leave more weight on
the stone, we leave some stones that
are disproportionate. So, you look at
the gemstone and see it as a carat.
And when it’s weighed, it’s 1.30.
In addition to
fairs and cutting,
what about tourism?
Make the mining area a safe tourist
place. One is the mining area as a safe
tourist area, where people can safely
go and buy. Eat meat there in the public
square. Visit other places, look at
cocoa plantations. When you take a
tourist to Muzo or any region of the
The workshop seeks to improve emerald cutting skills.
country, that tourist has lunch and
then spends money, that is, we must
promote these activities. They are
going to make an educational mine in
Muzo where people can have a total
immersion experience. And there is a
lot of tourism for that. In Bogotá, in
La Candelaria, there are many jewelry
stores and the tourist comes in search
of a Colombian emerald, and they
look for a particular gemstone, either
with added value or one that fulfills a
social function because that is what
they are looking for. People want to
help others, not just buy something
and take it. So that tourism, where
It is important to support tourism, fairs
and training in terms of gem cutting so
that the sector continues to grow and be
stronger at the national level.
they come and buy a jewel, and that
emerald or that jewel leaves the whole
sector divided. In addition, it must
have the support of a laboratory that
tells you that it is an emerald from Colombia
and you give them that report.
The management report
shows that emerald
production fell and that
exports are direct. What do
you say about this situation?
One of the reasons is that there
is a lack of improvement in cutting.
Regarding auctions, the same people
are taking everything. What we must
do is make an alliance with producers
to improve the situation. Let’s
say we have 15 associates or 15 merchants
who want to buy a lot. Each
one has 100 million, why not buy
one that costs you 1.5 billion and we
make groups of 100 million?
So, what would be the
strategy for what you
are proposing?
The strategy would be to cooperate,
help each other, bring the sector
together. In other words, as they
say, as a united team we are stronger.
If I don’t have the 1,500, but I
have 10 or 9 friends, there are the
10. When a local person buys from
a local, he invests in the local. The
other strategy is e-commerce. We
must look at how we can create a
commercial website where convention
sellers and jewelers can display
their products. Obviously, following
the clear rules of the game, where
there are ethics, morals, betting on
winning, winning. So, an e-commerce
site that bridges the gap between
those who have and want to sell and
those who want to buy.
How can you summarize the
strategies you proposed?
Tourism must be integrated with
laboratories to show off the Colombian
emerald. Likewise, this sector
must be integrated with the jewelry
sector because when you sell an
emerald there are many families behind
it. If people see that the best
emeralds in the world are cut in Colombia,
in the best way, I guarantee
that fewer stones will be exported
in the rough. Because they will say,
“Why do I export them if they are
best cut in Colombia?”
What can you say about
Sena trainings?
The intention is to train new people.
Because the workforce is also already
old. Almost all of us are already tired.
In other words, I have been in the
sector for 34 years and I am already
54. But most of the younger ones are
in our 50s. In 10 years we no longer
exist. In other words, our eyes are not
going to work anymore. So, in order
to reach new generations, the boys
between 20 and 30, and tell them
this can work, we do it through new
technologies such as Ultratec, Facetron,
Raytechshaw, which are brands
of cutting equipment and precision
that work. The school does teach with
glass, quartz, amethysts, which are not
emeralds. Then we have to tell the
guy to “go buy an emerald that costs
400,000 pesos, cut it and we’ll see the
result.” So he goes, cuts his gemstone
in the best way possible, you guide him
and commerce comes and commerce
is the one that judges.
What do you think the
sector in these first days?
The idea is that changes can be
made, because there are resources.
There are people who want to
continue learning. The business has
changed a lot. In other words, there
is no longer the old machismo, women
already have an important place
in the business and it is not only as
commission agents, they are already
jewelers, merchants. To show those
who go to a fair that it is a good option.
In other words, don’t just go to
the fair and stay at the fair. No, go
to the fair and look at what trends
exist. And then try to make your
unit productive. ◆
ESMERALDA
41

SECTOR
Luis Álvaro Pardo
SECTOR
ESMERALDA
42
The socioeconomic
condition of emerald
miners in western
Boyacá continues to
be one of the most
relevant priorities for the
National Government
and local authorities.
The president of the
National Mining Agency
(ANM), Luis Álvaro
Pardo, told ESMERALDA
MAGAZINE about the
plans that are underway
to bring about real
changes in areas that
produce this gemstone.
FFormalizing most miners and creating
better living conditions to help
them escape poverty and violence
in much of the country has been a
reiterative promise of successive
governments. And emerald production,
which has concentrated its
activities in Boyacá and Cundinamarca
for the last 80 years, has not
been the exception.
For decades, those who live in
western Boyacá have witnessed the
complex living conditions that informal
miners (guaqueros) and the
inhabitants of areas such as Muzo,
Otanche, Maripí, and Quípama have
had to face. For generations they
have learned how to face the great
risks of surviving amid efforts to
control strategic mines in the region.
Although this seems to belong in
the past, the president of the National
Mining Agency (ANM), economist
Luis Álvaro Pardo, warned in
an interview with ESMERALDA MA-
GAZINE that “what is happening in
western Boyacá is our absolute concern.
We are concerned about the
miners, but environmental and social
issues are also a priority.”
As the ANM president explains,
the government of President
Gustavo Petro has focused on the
emerald-producing area of Boyacá
and its current social conditions in
a forceful attempt to achieve true
solutions that also respect acquired
rights, signed mining contracts, environmental
mining regulations and
environmental restoration while
moving forward with the nation’s
energy transition.
“Emerald mining in western Boyacá
has been associated with the
internal conflict due to the wealth
emeralds represent and the lack of
control surrounding their commercialization.
In addition, we have worked
with emerald companies and
social organizations in that region. At
the departmental level, the Government
of Boyacá has been part of this
work, and the Presidential Regional
Advisory Office also participates in
this task,” adds the ANM president.
The government of President Gustavo
Petro defined as a priority to
achieve proximity to mining territories
to build a sustainable activity that
achieves a balance between mining,
environmental, social and technical
aspects. According to Pardo, spaces
have been created in western Boyacá
to establish dialogues between
the Government, social organizations,
informal miners (guaqueros)
and regional entities (mayors) to
seek alternatives and real solutions
to the prolonged social conflict.
“The government is concerned about the social issue in
WESTERN
BOYACÁ ”
These spaces, called Public Mining
Hearings, in which training and dialogue
that involve the community,
miners and the local government,
have taken place to build agreements
in San Pablo de Borbur, Maripí,
Muzo, Quípama, Pauna, Otanche,
Briceño and Tununguá.
“Through these spaces of effective
dialogue we seek to reach alternative
solutions within the framework of
competencies assigned to the National
Mining Agency, where important
announcements were made saying
that for the department of Boyacá
we have approximately 197 mining
titles, of which 193 are active and 4
titles are finished, in the process of
liquidation,” says Pardo.
This year another visit was made
to the region, says Pardo, to “advan-
ce mining formalization and continue
supporting operating contracts
that are signed by mining holders
with traditional miners who are
on their titles.”
The challenges to
achieve formalization
As described by the president of
the National Mining Agency, in western
Boyacá there is still a public
order problem that still has no solution
in sight: informal miners – and
also illegal ones – continue to invade
emerald mines.
But the social problem, Pardo emphasizes,
does not cease to worry
because the guaqueros who live from
day to day continue to subsist on the
hope of finding among the sterile
material that the emerald companies
give them a ‘sparkle’ of emerald
that would help them cover some of
their basic needs.
And this situation that attracts the
inhabitants of western Boyacá to the
mines has been a daily occurrence
for years. Many times, as informal
miners themselves have described,
at the end of those long days of searching
they are empty-handed. Weeks
go by in which not a single ‘spark’
is found among that material.
One of the alternatives to try to
solve this problem, according to Pardo,
consists of the National Mining
Agency’s commitment to finding new
titles in western Boyacá and special
reserve areas for formalizing miners.
To understand their real potential,
these areas are being reviewed by
the Colombian Geological Service.
“If there is the potential, we can
tell the guaqueros to organize themselves
into companies or cooperatives
to give them a mining title and to
work those areas. Currently they do
not live in dignified conditions. We
must return to the small and medium-sized
mining titles. That is the
policy of this government: to formalize
them and turn them into small
and medium-sized mining entrepreneurs,”
says Pardo.
ESMERALDA
43

SECTOR
LABORATORY
From the agency’s Development
Group, Pardo details, “free areas
in the western emerald belt were
analyzed and priority was placed
on the municipalities of San Pablo
De Borbur, Muzo, Coper, La Victoria,
Maripí, Otanche, Pauna, Quípama
and Yacopí.” From this study,
29,386 hectares of free areas distributed
in 35 polygons were identified
for study by the Colombian Geological
Service.
In addition to this purpose of turning
informal miners into small and
medium-sized entrepreneurs, there
is another issue: working hand in
hand with large emerald companies
to review new opportunities that
go beyond extracting and exporting
gemstones.
The social model in
PUERTO ARTURO
Awarded by CDTEC
GEMLAB, there are
different types of
gemological reports.
ESMERALDA
44
“If there is one thing we insist on
in this government, it is supporting
productive projects and companies.
But we also tell them: they must be
environmentally responsible. Some
have important social programs,
but ways must be found so that the
environment also benefits. It is also
about finding how to add value, generate
more wealth, more royalties
and new possibilities for progress in
the emerald region,” says Pardo.
This purpose of adding value is a
challenge that would promote local
work in productive chains around
emerald mining. This means supporting,
hand in hand with SENA, skills
involved with cutting emeralds and
even other precious stones.
And, in the not-too-distant future,
Pardo believes that local economies
in the mining areas of Boyacá and
Cundinamarca must be diversified to
support sectors such as tourism and
industries associated with the agricultural
sector. “Mining is a non-renewable
resource. Dependence on
the mining sector must be reduced
and sectors such as livestock, cocoa,
tourism, and others must be looked
at, as they are key to maintaining the
region’s activity,” he concludes. ◆
The most promising model that meets the government’s objectives
is what is happening in the Puerto Arturo mining company and the
community in Muzo. Puerto Arturo is the most famous and historic
mining community in Colombia. It is also implementing a progressive
social and environmental program that is in line with the government’s
vision for Boyacá and other mining communities.
Through its Muzo Foundation, Puerto Arturo is building partnerships
to support community organizations and empower citizens to
help build a new western Boyacá around a shared commitment to
sustainability, social responsibility, and the environment.
Puerto Arturo’s commitment to these goals has been recognized
worldwide. The foundation is promoting child education in western
Boyacá by investing in STEAM (Science, Technology, Engineering, Arts
and Mathematics), innovative teacher training, college scholarships
for high school graduates, a free health clinic, and in community kitchens
for elderly and vulnerable citizens.
Puerto Arturo’s projects reconnect the local community with the
land by offering sustainable and productive alternatives to mining. For
example, the “Grandparent’s Farm” project offers an agricultural alternative
for older adults and vulnerable citizens and a cocoa production
initiative has improved the options for greater productivity and quality
in cocoa cultivation, supporting the local association Asorcacao.
And, in the not-too-distant future, it is believed that local economies
in the mining areas of Boyacá and Cundinamarca should and
can diversify to support tourism and industries associated with the
agricultural sector, as is happening with the Puerto Arturo initiatives.
Successful Gemological
REPORTS
Issuing certifications or reports in
Bogotá has been in greater demand
around the country, which has led to
expanding the presence of CDTEC
GEMLAB in other areas of Colombia.
They turned to cities such as
Cartagena and Medellín to create
strategic points to install laboratories
that are made known to local authorities,
experts in the field and others
interested in the emerald trade.
“Sometimes it is quite wasteful that
people or jewelers from other parts
of the country have to bring their
pieces to Bogotá. Fortunately, we
can mobilize equipment and personnel
to other areas,” says Javier García
Toloza, CEO of CDTEC GEMLAB.
This strategy consists of locating a
temporary site for the scientific center
and receiving requests for certifications.
Then the gems are analyzed
by the mobilized professional team
that collects the information and the
main headquarters later delivers the
corresponding reports. “The reports
are sent days later,” he says.
According to information provided
by the Center for the Technological
Development of Colombian Emeralds
(CDTEC GEMLAB), over the
last year they went from selling or
issuing about 350 reports per month
to around 600. After Bogotá, Cartagena
and Medellín are the localities
with the highest requirement for the
three types of reports. All this thanks
to the credibility and professionalism
of its personnel, the technology used
over these two decades of operation,
and the market demand for this
type of gem that supports the commercialization
of our jewel, the Colombian
emerald.
“We are already scheduled to visit
Bucaramanga and Cali. That is what
we hope for, to be able to reach
those main cities to provide services
and increase the generation of
reports,” says García Toloza, who
reported a 30 percent increase in
ESMERALDA
45

LABORATORY
LABORATORY
The CDTEC GEMLAB is working on sharing knowledge through short
emerald courses, training for jewelers, traders and interested parties,
both national and international level.
ESMERALDA
46
sales comparing
2023 with 2024.
“We sold between
30 and 40 million
pesos in reports and
we are reaching 55 and 60
million pesos.”
Another objective that the CDTEC
GEMLAB has been working on is
transferring knowledge through
short courses on emeralds that is
designed for jewelers, merchants
and interested parties at a national
or international level, with educational
institutions such as the National
University, SENA and others related
to cultural identity, such as Artesanías
de Colombia.
The Center for the Technological
Development of Colombian Emeralds
(CDTEC GEMLAB) offers
services for the entire emerald production
chain, such as extraction,
transformation and marketing.
In the extraction phase there
are services for mining
extraction and development
processes with research in
geology, geochemistry, cooperation
and alliances with academia and
industry. For the next phase, transformation,
products and/or inputs
resulting from research are provided,
which seek to improve the cutting,
treatment and/or cleaning processes.
The third and final phase is commercialization,
which includes the certifications
or reports described above.
Types of gemological reports
Colombia is recognized for being
the largest producer of high-quality
emeralds worldwide, a distinction
that has been earned thanks to the
fact that these precious stones have
unique features compared to those
of other countries. The brilliance,
transparency, color, luminosity and
consistency make Colombian emeralds
attractive elsewhere.
Precisely to give credit to these
special characteristics, in Bogotá
the Center for the Technological
Development of Colombian Emeralds
(CDTEC GEMLAB) is an entity
created in 2004 whose mission
is to provide specialized technical
support for the emerald industry.
It is the only specialized center in
Latin America that provides services
such as certification and research
on the precious gems of this
Andean country.
“Certification is a gemological report.
People come here and bring
gemstones and we describe the
characteristics that the gemstones
have. We define if it is a natural
emerald, take measurements, photographs.
The color of the gemstone
is a factor of value. The origin,
for example, if it is Colombian, that
makes it different from emeralds in
other parts of the world, because
the fact that it is Colombian means
it cost more,” says Javier García Toloza,
CEO of CDTEC GEMLAB.
Firstly, the Gemological Report
complies with international standards
due to the commercialization
of gemstones around the world.
This process of purchase and sale
must be accompanied by a document
that certifies the gemstone’s
authenticity, that is, the proportions,
and it resembles a letter of ownership
that validates all the particularities
of an emerald.
This gemological certificate describes
aspects such as its nature,
the intensity of the green color, the
geographical origin, among others,
which adds and provides a guarantee
to the gemstone that you own or
want to acquire in the market.
“There are thousands of shades
of green, and the colors change
depending on certain dimensions.
We find the saturation, tone, hue,
and dimensions allow us to graduate
the color and depending on
what type of green, it also adds value
to the stone,” explains the CEO
of CDTEC GEMLAB.
Although the Colombian emerald
is our gemstone par excellence,
they are also produced in the other
five continents, and discovering the
country of origin is possible with
scientific processes carried out by
the CDTEC GEMLAB. “We try to
determine here through analytical
tests what the origin is, if it is national
or if it is from Zambia, if it is from
Pakistan or if it is from Brazil.”
The fact that the result certifies
that the gem is from Colombia already
gives it an added value as well
as status, depending on the area or
territory. Muzo, located in western
Boyacá and Chivor, also in the extreme
southeast in this department, the
Provincia del Oriente, are the most
outstanding localities for emeralds.
“A report that says: ‘Colombia,
Muzo type’, there you are already
placing an additional added factor,
because people already say: ‘Hey, it’s
Colombia, it’s Muzo, or it’s Chivor,’”
García Toloza points out.
The Premium Report, which is also
aligned with international requirements,
is the second certificate granted
by the Emerald Technological
Development Center in Colombia.
This title is made up of three parts:
the first is the gemological report
where all the characteristics of the
stone are observed, this document
also has a QR code that takes you
to the CDTEC GEMLAB website,
and using a password you can review
the report.
The second contains at least three
printed artistic images or photographs
at different angles of the
analyzed emerald. And the third
part of the Premium Report is a
Javier García Toloza, CEO of CDTEC GEMLAB.
ESMERALDA
47

LABORATORY
Complete Success for the Colombian Emerald at
BRIEFS
ESMERALDA
48
description or review of the stone.
The origin, ahistorical context or
something representative, and another
photograph are supplied. This
last part resembles a newspaper
brief about the certified gemstone.
These two types of certifications
granted by the CDTEC GEMLAB,
such as the Gemological Report and
the Premium Report, are issued for
medium and high-quality emeralds
“that are generally going to be used
for jewelry and they meet certain
quality factors, or are going to be exported,”
says the CEO of the Center
for Technological Development
of Emerald Colombia.
Pocket Report
Within the framework of the 20th
anniversary of the launch of this
scientific center that thoroughly examines
the state of emeralds to judge
their quality before experts and lovers
of gemstones, the Pocket Report
is a third product aimed at the
industry. It was conceived during the
Covid-19 pandemic and focuses on
those emeralds of lower or commercial
quality.
“We have created it for the industry,
so that jewelers or people who
work with less superior quality materials
have greater accessibility. That
is, for those emeralds that have very
low color, low clarity and a smaller
size.” And as Javier García assures,
“our emeralds, even if they are of
low quality, are very special.”
The Pocket Report gives a status
to a gemstone that could be underestimated
due to it being in a piece
of jewelry to which an average buyer
can have access. “The end consumer
will always seek that trust. The
jeweler will always want to generate
that trust with his consumer so that
he becomes a repeat customer, that
he makes a purchase again, so this
Pocket Report can become an instrument
that allows him to validate
that trust,” he adds. ◆
SOTHEBY’S
The necklace was part of Lot 65
of the collection and the greatest attraction
was the purity and vibrant
green color of an emerald from the
Muzo mines in Colombia. The piece
is composed of a row of rectangular
emeralds with marquise-shaped diamonds.
Sotheby’s website published
a detailed report in which the Swiss
Gemological Institute SSEF confirmed
the purity of the gem, its 100%
Colombian origin, and its approximate
weight of 37.57 carats, which
make it a jewel never seen before.
OOn May 21, the prestigious auction
house Sotheby’s held an extraordinary
auction entitled “One house,
one life,” in which the sale of the
furniture and jewelry of Panamanian
philanthropist Yolanda Eleta de
Fierro, spouse of businessman and
banker Ignacio Fierro, was offered to
the public. The event took place at
the Paris headquarters and attracted
collectors from all over the world,
especially those interested in gemstones
and relics from the 20th century.
Yolanda Eleta, known for her refined
taste and passion for jewelry,
had a collection that dates back to
1945 and in which prestigious firms
such as Cartier, Harry Winston
and Van Cleef stand out. Among
the auctioned pieces was an emerald
and diamond necklace that sold
for 786,000 euros, far exceeding initial
expectations.
OOn May 6, the iconic Met Gala was
held at the Metropolitan Museum
of Art under the slogan “Surrealist
Dreams and Fashion Illustrations.”
The event is recognized for being the
greatest exponent of fashion and art,
and it was a stage where emeralds
shone bright. The gems gave life to
the theme “The Garden of Time”
in necklaces, rings, bracelets and
earrings that exalted the warm and
flowery outfits of the most prominent
celebrities of the night.
In an interview for Vanity Fair,
Andrés Correal White, in charge
of the house’s jewelry department,
mentioned: “You only have to take a
look at the collection to find a clear
correlation between the objects and
their travels and experiences. The
emeralds, their lush green juxtaposed
with the white of the diamonds
of the most important pieces, and
the neutral elegance of the pearls
that she preferred for day to day, attest
to this.” Sotheby’s auction not
only celebrated Yolanda’s legacy,
but highlighted Colombia’s position
as one of the leading producers of
high-quality emeralds. ◆
Emeralds Took Over the
2024 MET GALA
Among the stars who decided to
wear these green stones was the
renowned singer Cardi B. All eyes
were on her as she elegantly wore
a 141-carat necklace of Colombian
emeralds from the firm A. Jaffe. Actress
Demi Moore opted for a necklace
and earrings from Cartier’s Nature
Sauvage collection, where 10-carat
emeralds cut in the shape of flowers
and spirals were harmoniously combined
with diamonds.
Emeralds were not only present in jewelry but
were also a fundamental part of some outfits.
For example, the dress Zendaya wore,
by designer Iris Van Gerpen, was embroidered
with floral motifs in emerald green
tones that was accompanied by jewelry in
rose gold with two oval emeralds, as well as
a buff-top emerald ring. ◆
Photo: CardiB at the 2024 Met Gala
Taken from: Official Instagram account of CardiB, @iamcardib
ESMERALDA
49

Foto: pxhere
Contacts Aprecol
APRECOL
asesor@aprecol.com
comunicaciones@aprecol.com
+57 318 290 6050
Bogotá, Colombia
www.aprecol.com
@aprecol
aprecolcmeralds
aprecol_emeralds
aprecol
Fedesmeraldas Contacts
C.I VIVID GREEN S.A.S
Fernando Andrade
futuro22@gmail.com
C.I CENTURY EXPORTACIONES S.A.S
Eduardo Chiquillo
eduardochiquillo66@gmail.com
GREEN SHINE C.I S.A.S
Oscar Camilo Sanchez
greenshineltda@hotmail.com
C.I THE BEST EMERALDS S.A
Luis Gabriel Angarita / Fernando Angarita
fangari@gmail.com
ma@tbe.com.co
CI GEMTEC S.A.S
Paul Rotlewicz
paul@gemtec.com
CASTRO EMERALD’S LTDA C.I
Alberto Castro
castroemeraldsltda@gmail.com
C.I BOGOTA EMERALD MART S.A.S
Benyamin Bazalel
bem@bem.com.co
jbazalel@hotmail.com
C.I EMERALD PLANET
Dario Vanegas
emeraldplanetsas@hotmail.com
FOURC’S LTDA C.I
Andrés Cadena
ebm1980@gmail.com
COEXMINAS
Juan Carlos Molina
coexminas@empresario.com.co
C.I GERMAN SALAZAR DELGADO E.U
German Salazar
emeraldcolombia@hotmail.com
ESMERALDAS
DE LOS ANDES S.A.S
Lucia Corredor
lcorredor@edla.com.co
aerazo@edla.com
GRUPO CHINA CORP
COLOMBIA LIMITADA
Guillermo Galvis
Ggalvis@groupschina.com
GREEN REPUBLIC S.A.S
Javier Sánchez
javiersanchez04@gmail.com
RODIN S.I S.A.S
Constanza Aguillón
info@rodin.com.co
3C COLOMBIA EMERALDS C.I S.A.S
Luis Alberto Molinares Cabrera
business@colombiaemeraldsci.com
THE PREMIER TRADING C.I. S.A.S.
Diego Nicolás Sánchez García
info@thepremieretrading.com