In a move that reverberates across both the jewellery and gemstone industries, KORITE, the world’s leading producer of Ammolite, is now under the ownership of Tracy and Beth Day Chief of the Kainai Nation. Their company, Buffalo Rock Mining, renowned for ethically sourcing and distributing Ammonite fossils, has taken the reins, bringing with it a blend of deep business expertise and a profound connection to Indigenous heritage. This acquisition is not just a shift in ownership but a powerful statement about the future of ethical gemstone mining and cultural integrity.
The Sacred Stone: Business Meets Heritage
For the Blackfoot people, Ammolite, known as Iniskim or Buffalo Stone, holds sacred significance as a symbol of prosperity. Under the stewardship of Buffalo Rock Mining, KORITE is set to embody this heritage while navigating its global business strategy. The company now commands 95% of the world’s Ammolite deposit, securing its position as an unrivalled supplier in the market.
Tracy Day Chief expressed his vision for KORITE’s trajectory: “This acquisition gives us the opportunity to revitalize KORITE’s legacy. Our goal is to expand the presence of Ammolite globally while working hand-in-hand with our talented staff and clients to restore the company’s pre-COVID success.”
At the helm of KORITE’s leadership team is Amarjeet Grewal, an industry veteran with more than 30 years of experience in the Ammolite sector, having begun her career with KORITE. Her appointment as President signals a commitment to continuity and strategic growth that taps into her vast knowledge of both product and market dynamics.
“Joining KORITE feels like coming full circle,” said Grewal. “This is an incredible opportunity to elevate Ammolite as both a luxury product and a cultural experience that connects people with the land and spirit it represents.”
Tracy Day Chief highlighted Grewal’s pivotal role, noting, “Amarjeet’s deep expertise and passion for Ammonite make her the perfect person to lead KORITE into the future. She truly embodies the values and story behind this national treasure.”
Ammolite: A Canadian Rarity with Global Appeal
Ammolite’s allure lies in its rarity and captivating spectrum of colours. Found only in the Bearpaw Formation of Southern Alberta, it is among the world’s most exclusive gemstones, renowned for its brilliant hues and natural origins. This uniqueness elevates its status as not just a gem but a storytelling piece of Canadian heritage.
With Buffalo Rock Mining’s acquisition, KORITE’s direction is firmly rooted in maintaining high standards of ethical sourcing while expanding its market reach. Grewal’s strategic approach aims to open new avenues for Ammolite jewellery and luxury products, ensuring that this distinctive gemstone remains an emblem of Canadian craftsmanship and natural splendour.
A Future Anchored in Sustainability and Tradition
The jewellery industry is increasingly aligning with sustainable and ethical practices, making Buffalo Rock Mining’s leadership timely and relevant. The new ownership commits to practices that honour the environmental and cultural importance of Ammolite, setting a precedent for responsible stewardship. This stewardship ensures that the mining process respects the land’s integrity and the traditions it holds, a message that resonates with modern consumers seeking authenticity and sustainability.
The synergy between Grewal’s industry insight and the Day Chiefs’ profound connection to the land promises a bright future for KORITE. Their combined efforts will propel Ammolite into more global showcases, offering jewellery designers and retailers an unmatched product that blends cultural depth, ethical sourcing, and stunning natural beauty.
For industry stakeholders, this transition signals more than an ownership change; it marks a renewed commitment to ethical practices, cultural respect, and the perpetuation of a gemstone that tells the story of the land from which it comes.
