Greenland Ruby Mine Suspends Production
Greenland Ruby, once touted as a new source of traceable red gems, has suspended production, officials confirmed.
Chief sales and merchandising officer Michele Billam says “it’s true our mining operations at Aappaluttoq are suspended for care and maintenance and have been since January of this year. We have also been conducting exploratory mining at two other sites in Greenland which we hold the license for. We have loose stone inventory well stocked, and we have rough material still to process.”
Greenland newspaper Sermitsiaq reported last month that the mine had laid off 30 workers at the beginning of the year and has now dismissed the remaining seven. It said the mine had a debt of 509 million Danish kroner (about $73 million).
“Greenland Ruby has a very large stock of rubies in Thailand, but sales have been very low,” the publication reported.
The miner, owned by Norway’s LNS Group (Leonhard Nilsen and Sønner) had hired a new CEO in January. Greenland Ruby had been producing rubies, as well as pink sapphires, from the mine since 2017.