China-based peridot specialist Fuli Gemstones is targeting to provide more than 50 per cent of the world's peridot supply with the opening of its mine next year.

According to Pia Tonna, chief marketing officer and executive director of the vertically integrated company, Fuli Gemstones is scheduled to commence commercial production in 2024.

“We are on track to start bringing products to market in the third quarter of 2024. There will be a ramp-up period and, at full capacity, our mine is targeted to produce 64.5 per cent of the world’s peridot supply,” she revealed.

Fuli Gemstones is the custodian of the largest known peridot mine in the world - the Yiqisong Nanshan mine located in the foothills of the Changbai Mountains in China.

Till commercial production kicks in, the company is drumming up interest in peridot and positioning it as a fresh and vibrant gem.

Earlier, the company unveiled a new special cut to enhance the appeal of peridots.

Based on an antique cushion, the contemporary ‘Fuli Cut’ for peridot contains 65 facets, instead of the usual 58. The gemstone is also cut on the cross, revealing Fuli’s distinctive vivid green colour and liveliness. 

According to Fuli Gemstones, the new cut capitalises on two of peridot’s special gemmological features. These are pleochrism, where a gemstone shows different colours when viewed from different angles; and high birefringence, an optical property where a single ray of light entering the peridot splits into two rays and creates a visual illusion of doubling of the facets.