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Gemstones News

Impairments, fair value losses to push Gemfields to a loss for 2018

By: Tasneem Bulbulia     22nd March 2019 Gemfields expects to report a net loss of $60.4-million for the year ended December 31, 2018, compared with the net profit of $45.1-million reported for 2017. In rand terms, the net loss is expected to be R801-million, compared with a R600-million net profit the year before. 

Tanzania launches gold trading centre to fight smuggling

By: African News Agency      19th March 2019 Tanzania has followed South Africa and Botswana with the launch of an international gold trading centre in the gold-rich region of Geita as part of its efforts to fight the smuggling of minerals, according to a report on Tuesday. South Africa has a gold exchange hub while Botswana has a diamond... 

'No tomorrow' for many unless consumption falls – UN

By: Reuters     13th March 2019 Global exploitation of natural resources – from water, sand and timber to oil, coal and gemstones – has more than tripled in 50 years, the United Nations (UN) said on Tuesday, warning of devastating environmental impacts unless demand is reduced. Surging consumption of natural resources –... 

Gemfields unveils new $15m automated ruby sort house in Mozambique

By: Tasneem Bulbulia     22nd February 2019 Gemfields on Friday unveiled a new ruby sort house near its Montepuez ruby mine (MRM), in Mozambique. The gemstone miner noted in a statement that the sort house, in which it invested $15-million, was the first of its kind for the gemstone industry and would be on par with the best diamond... 

Gemfields’ latest Lusaka emerald auction generates $10.8m in revenue

By: Tasneem Bulbulia     21st February 2019 Gemfields’ latest auction of predominantly commercial-quality rough emeralds, held in Lusaka, Zambia from February 18 to 20, saw 24 companies placing bids and generated revenue of $10.8-million with an overall average value of $4.39/ct. 

Xolobeni judgment continues to confound 

By: Martin Creamer     11th February 2019 Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other.  But the... 

Xolobeni judgment continues to confound
Mineral Resources Minister Gwede Mantashe

Mozambique authorities focusing attention on rubies and gold

By: Rebecca Campbell     1st February 2019 The Economy and Environment Committee of the Mozambican Parliament announced in late January that it was to visit the country’s most north-easterly province, Cabo Delgado, to evaluate the socio-economic impact of the province’s mining operations on the adjacent local communities.  

Gemfields agrees settlement of £5.8m pertaining to claims by Leigh Day  

By: Tasneem Bulbulia     29th January 2019 Gemfields announced on Tuesday that it has agreed, on a no-admission-of-liability basis, the settlement of all claims brought by law firm Leigh Day on behalf of individuals living in the vicinity of Montepuez Ruby Mining’s (MRM’s) mining concession in northern Mozambique. Gemfields holds a 75%... 

Gemfields ‘encouraged’ by most recent CPR report, despite declining results

By: Simone Liedtke     21st January 2019 JSE-listed Gemfields is “particularly encouraged” by the increased level of mineral resource base and confidence underpinning the company’s most recent competent persons reports (CPR), despite results showing a decline since 2015. The CPR, which was produced by SRK Consulting in respect of... 

Israeli billionaire Leviev's Zambia emerald mine stake restored

By: Bloomberg     21st January 2019 Zambia’s company registry reversed a decision to strip Israeli diamond billionaire Lev Leviev of his 50% stake in an emerald mine that’s at the heart of a $50-million dispute. The Patent and Companies Registration Agency, or Pacra, said in a letter on Thursday that it reversed the forfeiture of... 

Carmeltazite recognised as a new and rare mineral

By: Tasneem Bulbulia     7th January 2019 Middle Eastern precious stone exploration company Shefa Yamim on Monday announced that carmeltazite, a mineral found in one of its gemstones, the carmel sapphire, has been recognised and approved as a new mineral by the International Mineralogical Association (IMA) Commission on New Minerals,... 

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

Innovate and generate cash at same time – Dassault Systèmes Geovia  

By: Martin Creamer     5th December 2018 The objectives of innovating and generating cash are not mutually incompatible and can be achieved at multiple levels simultaneously, says Dassault Systèmes Geovia Brand CEO Raoul Jacquand, who was in Johannesburg to showcase the French company’s suite of advanced three-dimensional (3D) software.... 

Innovate and generate cash at same time – Dassault Systèmes Geovia
Dassault Systèmes Geovia Brand CEO Raoul Jacquand spoke to Mining Weekly Online’s Martin Creamer on new mining technology. Video: Christo Greyling. Photogaphs: Creamer Media Chief Photographer Dylan Slater.

Gemfields generates $28m from Singapore emerald auction

By: Marleny Arnoldi     19th November 2018 JSE-listed Gemfields has generated $28.4-million in revenue from last week’s rough emeralds auction, which 40 companies attended in Singapore. The company said on Monday that the proceeds of the auction would be fully repatriated to its 75%-owned subsidiary Kagem Mining and would be used to... 

Gemfields finds 1.1 kg emerald at Kagem in Zambia

By: Bloomberg     29th October 2018 The world’s biggest emerald miner has found a gem that weighs more than 1.1 kg at its mine in Zambia. The 5 655 ct stone found earlier this month at the Kagem mine will be sold at auction in Singapore in November, Gemfields Group said in a statement on Monday. 

Mining Indaba intensely focused on driving capital into African mining 

By: Martin Creamer     11th October 2018 An investment pavilion will be introduced at the upcoming Investing in African Mining Indaba to drive capital into African mining with even greater intensity, MD Alex Grose said on Thursday. Speaking to Mining Weekly Online during a media roundtable, Grose also revealed that more time would be... 

Mining Indaba intensely focused on driving capital into African mining
Investing in African Mining Indaba MD Alex Grose spoke to Mining Weekly Online’s Martin Creamer about the upcoming event. Video, Video Editing and Photographs: Darlene Creamer

Plea for govt to awaken to massive economic potential of mining  

By: Martin Creamer     10th October 2018 A plea for the government to awaken to the massive real potential of the South African mining sector was made on Wednesday by Eunomix CEO Claude Baissac, who decried the disincentivising of South African mining over the past 20 years as an inexplicable paradox and a massive mineral policy... 

Plea for govt to awaken to massive economic potential of mining
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer on South Africa’s massive mining opportunity loss. Video, Video Editing and Photographs: Christo Greyling.

Chinese delegation to witness proudly South African logging system 

By: Martin Creamer     8th October 2018 The high-ranking delegation from China, which is due to arrive in South Africa next Monday to undertake a three-week study of South Africa’s globally recognised mineral reporting codes, will be given insight during their visit into a South African borehole logging system that is poised to go... 

Chinese delegation to witness proudly South African logging system
Samcodes Standards Committee chairperson Matt Mullins interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Chinese delegation to study South Africa’s mineral codes

By: Martin Creamer     2nd October 2018 South Africa’s meticulous set of mineral reporting codes has succeeded in attracting a high-ranking Chinese delegation from the Mineral Resources and Reserves Evaluation Centre of the Ministry of Land and Natural Resources (MRREC) in Beijing. South Africa’s Samcodes Standards Committee (SSC) will... 

Chinese delegation to study South Africa’s mineral codes
Photo by Creamer Media
Samcodes Standards Committee chairperson Matt Mullins

Gemfields in strong position to support planned growth

By: Simone Liedtke     28th September 2018 Gemfields Group Limited (GGL) is now in a strong position to support the planned growth of its underlying mining operations in Zambia and Mozambique, as well as to further develop its Faberge business and progress its bulk sampling in Ethiopia, it said in a report to shareholders for the six... 

Gemfields expects to swing to interim profit

By: Creamer Media Reporter      21st September 2018 Gemfields expects to report a net profit of $16-million, or about R197-million, for the six months ended June 30, compared with a net loss of $81-million, or about R1.1-billion, reported for the six months to June 30, 2017. In a trading update on Friday, the company said its earnings a share and... 

Ramaphosa moves to revitalise mining, create certainty

By: Martin Creamer     21st September 2018 It is imperative that South Africa restores investment and exploration levels in the mining sector as mining and mineral beneficiation activities have significant potential to drive long term growth, exports and job growth, President Cyril Ramaphosa said in his economic stimulus and recovery plan... 

Ramaphosa moves to revitalise mining, create certainty
President Cyril Ramaphosa

Nanoparticle tech allows gemstone origin confirmation

14th September 2018 Gemstone mining company Gemfields has again partnered with Swiss gemologist Gübelin Gem Lab to embed nanoparticles proving origin into all Kagem emerald mine emeralds that were sold at auction in Lusaka, in Zambia in May. Gemfields is the operator and 75% owner of the Kagem mine and also holds... 

Nanoparticle tech allows gemstone origin confirmation
NANOPARTICLES TECH Nanoparticles technology developed by gemologist Gübelin Gem Lab can be used to prove the origin of coloured gems without affecting their quality

Growing demand for synthetics not a threat to natural diamonds

By: Nadine James     14th September 2018 Although the global diamond market is currently worth about $87-billion, laboratory-grown diamonds only constitute 2% of that market, or $1.9-billion, says New York-based independent diamond analyst Paul Zimnisky. While the laboratory-grown diamond jewellery market is forecast to grow to about... 

Growing demand for synthetics not a threat to natural diamonds

Zambian Revenue Authority executes search warrant at Gemfield’s Kagem mine

By: Schalk Burger     17th August 2018 Gemstone miner Gemfields on Friday said its Kagem Mining company had been subjected to an unannounced visit on Thursday by the Zambian Revenue Authority. Kagem Mining, through which Gemfields operates and holds 75% of the Kagem emerald mine, in Zambia, and its South African polygraph service... 

Mozambique's ruby mining goes from ‘wild west’ to big business

By: Bloomberg     13th August 2018 Sebastiao Pedro struck it lucky in 2014 when, as a 21-year-old small-scale miner, he found a large red ruby in northern Mozambique. He sold it to a buyer from Vietnam for $43 000, returned to his family 900 miles away and built a house with the proceeds. Then the money ran out. 

Mozambique's ruby mining goes from ‘wild west’ to big business

Gemfields sells 90% of emeralds on offer at latest auction

By: Anine Kilian     3rd August 2018 Gemfields’ latest auction, comprising predominantly commercial quality rough emeralds, generated revenues of $10.89-million, with an overall average value of $4.21/ct achieved. The auction was held in Lusaka, Zambia, from July 30 to August 2. 

Emeralds, equipment looted at Gemfields’ Ethiopia operations

By: Simone Liedtke     1st August 2018 Emeralds contained in Ethiopian exploration firm Web Gemstone Mining (WGM) operation’s sort house were looted on Tuesday, along with equipment and instruments, after the operation was overrun by a mob on June 29. The gemstone sort house, which was built using 40 ft shipping containers, was... 

Voorspoed diamond mine to close after search for bidder fails  

By: Martin Creamer     31st July 2018 The Voorspoed diamond mine in the Free State is scheduled to close by year-end if the Department of Mineral Resources (DMR) is unable to secure, in the next 30 days, a suitable bid that will set the seal on the employment and community support that this Kroonstad-area mine provides. The decision... 

Voorspoed diamond mine to close after search for bidder fails
De Beers Consolidated Mines CEO Phillip Barton outlines the Voorspoed mine closure plans to Mining Weekly Online’s Martin Creamer. Video and Video Editing. Darlene Creamer.

Fura Gems to acquire another ruby prospecting licence in Mozambique

By: Marleny Arnoldi     30th July 2018 Gemstone mining company Fura Gems has entered into a share purchase agreement with Azores Overseas to acquire a ruby prospecting licence in the Montepuez district of Cabo Delgado province, in Mozambique. Fura president and CEO Dev Shetty said the company is pleased to further consolidate its... 

Fura Gems to acquire another ruby prospecting licence in Mozambique
Fura Gems gemstone collage

Tanzania targets setting up mineral exchange by end of 2018

By: Bloomberg     26th July 2018 Tanzania plans to establish a minerals exchange by the end of this year, in a bid to ensure the East African nation reaps the most from its resources, Minerals Minister Angellah Kairuki said. The nation’s resources including gold, diamonds, iron, silver, copper, graphite and other rare earth... 

Kenmare Q2 production in line with expectations, reduces debt

By: Simone Liedtke     17th July 2018 LSE-listed mineral sands producer Kenmare Resources produced 377 900 t of heavy mineral concentrate (HMC) in the second quarter ended June 30, a 5% increase on the 359 200 t produced in the first quarter of the year, in line with expectations. Ilmenite production for the second quarter was 238... 

Fura to expand its Mozambique ruby holdings; considering an LSE listing

By: Anine Kilian     16th July 2018 TSX-V-listed gemstone producer Fura Gems has entered into an agreement to acquire an interest in nine ruby assets in Mozambique from ASX-listed Mustang Resources and Regius Resources Group for A$15-million, or about C$14.6-million, in cash and shares. Upon closing of the acquisition, Fura, which... 

Platinum jewellery heading for good year – PGI 

By: Martin Creamer     9th July 2018 Significant demand growth is under way in the platinum jewellery market, which remains the second biggest ounce contributor to platinum demand at 2.5-million ounces of yearly fabrication, some 35% of total demand. “We’re seeing a lot of growth in the market. Obviously, the platinum price is... 

Platinum jewellery heading for good year – PGI
Platinum Guild International CEO Huw Daniel talks to Mining Weekly Online’s Martin Creamer on platinum jewellery promotion. Video and Video Editing. Nicholas Boyd

Magnum finds viability in Gravelotte re-establishment with 46 ct/t grade

By: Marleny Arnoldi     9th July 2018 ASX-listed Magnum Mining’s Phase 1 trial mining campaign at Gravelotte, in South Africa’s Limpopo province, has delivered more than 11 700 ct of emeralds to date, which were recovered from the treatment of 256 t of dump material, at an average grade of 46 ct/t.  

Magnum finds viability in Gravelotte re-establishment with 46 ct/t grade

Gemfields reports disruption at Ethiopia operations

By: Marleny Arnoldi     2nd July 2018 A mob of between 300 and 500 people have overrun the operations of Ethiopian exploration firm Web Gemstone Mining (WGM), in which resources investment firm Gemfields has a 75% stake.  

Pallinghurst shareholders approve name change to Gemfields Group

By: Marleny Arnoldi     26th June 2018 Shareholders of natural resources investment company Pallinghurst Resources on Tuesday voted in favour of changing the company’s name to Gemfields Group.  

China continues to encourage foreign mining investment

By: Rebecca Campbell     22nd June 2018 In early April the People’s Republic of China established a new Ministry, that of Natural Resources (MNR). The creation of the new Ministry was part of a programme to restructure the country’s State Council (Cabinet). The MNR took over all the responsibilities of the previous (and now... 

China continues to encourage foreign mining investment
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