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    Thursday, June 5
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    Home»Industry News»Korite Acquired by Buffalo Rock Mining, Under New Indigenous Ownership
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    Industry News

    Korite Acquired by Buffalo Rock Mining, Under New Indigenous Ownership

    Ruchi SinglaBy Ruchi Singla06/11/20243 Mins Read
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    Tracy and Beth Day Chief, founders of Buffalo Rock Mining and members of the Kainai Nation, have acquired ammolite jewellery specialist KORITE.

    With extensive experience in the ammonite fossil industry and a focus on sustainable practices, the Day Chiefs plan to bring forward these values in KORITE’s operations. Established in 2008 on the Blood Reserve in Alberta, Buffalo Rock Mining has now expanded its role in the global gemstone market, integrating ammolite’s unique appeal with Indigenous perspectives on environmental responsibility.

    New President Appointed to Drive Growth

    Following the acquisition, Buffalo Rock Mining appointed Amarjeet Grewal as KORITE’s new President. Grewal, who brings over 30 years of experience in the industry, will oversee KORITE’s strategic direction, with a focus on building strong industry partnerships and enhancing the company’s market presence. Speaking on her new role, Grewal remarked, “Joining KORITE feels like coming full circle… My focus will be on strengthening relationships within the industry, building meaningful partnerships, and ensuring KORITE remains at the forefront of innovation and excellence.”

    Under Grewal’s leadership, KORITE aims to expand its operations beyond its established presence in tourist areas, cruise ships, and port-based retail stores, with plans to broaden its reach within the gemstone industry and raise the profile of Canadian gemstones internationally.

    From Mine to Market: A Comprehensive Approach

    With the acquisition, KORITE now operates as a fully integrated mine-to-market business. This structure enables Buffalo Rock Mining to manage each stage of production, from mining to manufacturing and retail, ensuring quality and consistency across its ammolite jewellery and art offerings. Beth Day Chief commented, “I always say you have an owner that’s willing to… work in the dirt and follow the process right through.”

    Historically, Buffalo Rock Mining focused on producing raw ammonite fossils and stones for other suppliers. Now, with KORITE, the company plans to expand into high-quality finished products, allowing better control over the supply chain and greater alignment with current demand trends.

    Commitment to Cultural Heritage and Sustainable Practices

    Ammonite—or “Iniskim” (Buffalo Stone)—is culturally significant to the Blackfoot people, believed to bring prosperity. Buffalo Rock Mining intends to honour this cultural heritage through sustainable practices and adherence to Alberta’s strict fossil regulations. 

    These regulations are designed to protect rare specimens and ensure responsible mining practices for future generations. Grewal highlighted Buffalo Rock Mining’s commitment to these principles, saying, “They walk the talk, meaning, the ground is left exactly how they got it.”

    Buffalo Rock Mining’s approach to sustainable mining aligns with KORITE’s mission to blend cultural heritage with ethical practices. Grewal added, “The fossil has a story, and it’s a privilege to be part of a company that brings that story to life,” underscoring the respect for the heritage that KORITE represents.

    As interest in ethically sourced and culturally significant gemstones grows, KORITE is positioned to explore opportunities in both Canadian and international markets. With an integrated supply chain and a focus on ammolite’s unique heritage, Buffalo Rock Mining aims to elevate awareness of this distinctly Canadian gemstone in high-end jewellery and gemstone sectors.

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    Ruchi Singla

    Ruchi is our trusted breaking news reporter, keeping you informed about the latest trends, launches, and significant events as they unfold. With a commitment to accuracy and a passion for adding a layer of insight, Ruchi creates informative and engaging content that shines a light across the world of jewellery.

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