|Fura Gems, a new gemstone mining company headed by Gemfields veteran Dev Shetty, has purchased 76 percent of Colombian emerald mine Esmeracol for $10.2 million.|
Current owner Emporium will continue to hold a 21.71 percent interest in the mine with the other 2.29 percent retained by minority holders.
|Open for 400 years, it has produced some of the finest emeralds in the world. Lately, it has operated on a small-scale basis. Fura plans to modernize it and ramp up production.|
Colombia's emerald production has plummeted in recent years.