Madagascar’s Sapphire Legacy: A Treasure Trove with Unfulfilled Potential

Madagascar holds a unique position in the global gemstone market, with multiple sizable sapphire deposits accounting for an estimated 40-60% of the world's sapphire supply.

The island is a critical player in the colored gemstone industry, with vivid blue and fancy colored sapphires. Yet, despite this remarkable natural wealth, much of the potential value from these gemstones remains unrealized.

The majority of Madagascar’s sapphires are exported in their raw, unpolished form, bypassing opportunities for local value addition. By focusing on just raw material exports, the country forfeits substantial economic benefits that could be achieved through local processing, polishing, and jewelry manufacturing. Establishing a robust domestic gemstone refinement and jewelry production industry could create jobs, foster entrepreneurship, and significantly boost government revenue.

Moreover, the lack of local beneficiation also means that Madagascar misses out on opportunities to brand its gemstones as premium products in international markets, further limiting its competitive edge. If supported by infrastructure development and policy reforms, the nation's sapphire industry could evolve into a cornerstone of sustainable economic development, benefiting local communities and reinforcing Madagascar’s global reputation as a gem-rich nation.

Supporting and nurturing the local gemstone industry is essential to help the country take advantage of its natural wealth.

By Alice Aubry, Founder of Gems with Origin