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The boss of coloured gemstone specialist Gemfields (LON:GEM) said the situation in China poses a threat to the luxury goods generally, though less directly to its business.
Global stock markets plunged as the Chinese central bank devalued the yuan for second time in two days.
Talking to Proactive, Ian Harebottle, said while China had been an important consumer of diamonds and other luxury consumer goods for some time, Gemfields had only recently entered the market.
As a result its presence is small and it still sees a lot of potential to grow coloured stones demand there.
Harebottle was taking after another steady production quarter from its mines at Kagem and Montepuez.
Emerald and beryl mine Kagem, in Zambia, produced 8.1mln carats (2014: 6.2mln) in the three months to June.
Grades were lower at 222 carats per tonne (271), though more efficient mining meant units costs per carat fell.
Full year (12 months) production rose 49% to 30.1mln carats at a grade of 242 carats and unit costs 6% lower.
At ruby mine Montepuez, in Mozambique, trial production is underway and output rose to 0.7mln carats in the final quarter (0.2mln) at an average grade of nine carats (three).
Full year production increased to 8.4mln carats (6.1mln), though costs rose to US$2.57 per carat (US$1.12) as production ramped up while there was a higher proportion of lower grade alluvial ore.
Sales orders at luxury goods arm Faberge rose by 31% over the year, but dropped by 14% in the final quarter due to a big promotion with Harrods on the comparable period.
The 30.1mln carats of emerald and beryl produced at Kagem for the full year was the second highest level of production since Gemfields took control of in 2008.
"Market demand for coloured gemstones remains firm, with our Mozambican rubies having enjoyed considerable success at each of the two ruby auctions held during the period,” said Harebottle.
“We look forward to our next auction of higher quality emeralds, scheduled to take place later this month."
Broker Investec said it was not that concerned about production volatility as grade varies considerably and at Montepuez especially, Gemfields is still working to understand its resource.
Net debt of US$17mln was slightly better than expected.
Shares were flat today at 64.8p.