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Gemstones News

Leon expects mining industry to have a future under Ramaphosa’s Presidency

By: Nadine James     16th February 2018 Herbert Smith Freehills partner and Africa co-chairperson Peter Leon is cautiously optimistic that the changes signalled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber of Business in South Africa on Thursday evening, he... 

There is new energy to ease mining industry conflict – Scholes

By: Mia Breytenbach     16th February 2018 There appears to be new political resolve to mend the relationship between the mining industry and the Department of Mineral Resources, says specialised law firm Malan Scholes director Hulme Scholes. Speaking at the IHS Markit South African Coal Export Conference, in Cape Town, on Thursday, the... 

There is new energy to ease mining industry conflict – Scholes
Photo by Duane Daws
HULME SCHOLES For the first time . . . we will see the trust deficit between the mining industry and department close

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 The global equity markets have been extremely volatile in recent weeks, extending a frantic selloff in US stocks that culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Sound policy, low risk key to attracting mining investment

Gemfields transparent, proactive in rebutting rights allegations

By: Martin Creamer     12th February 2018 Coloured gemstones company Gemfields has been transparently proactive in rebutting claims of human rights abuses in Mozambique, where it mines rubies. "We've voluntarily elected to issue this statement," Gemfields, headed by CEO Sean Gilbertson, commented in a release on Monday about UK-based law... 

Gemfields transparent, proactive in rebutting rights allegations
Gemfields CEO Sean Gilbertson

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

By: Henry Lazenby     9th February 2018 Ottawa on Thursday tabled new legislation to improve the federal environmental assessment process for mining projects. The legislation is aimed at strengthening and restoring the credibility of Canada's environmental laws. 

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

Richland appoints new CEO, to review sapphire operations

By: Mariaan Webb     5th February 2018 Aim-listed Richland Resources has appointed Anthony Brooke as its new CEO, succeeding Bernard Olivier who resigned last month to take up the CEO position of Mustang Resources. Brooke has previously acted as VP of marketing and sales for Richland’s Capricorn Sapphire business and has been... 

Coloured gemstones market poised to increase from $2bn to R10bn in next decade

By: Nadine James     2nd February 2018 Diamonds are not rising in value, observes market commenting platform Safehaven, adding that better value could be derived from coloured stones such as rubies, emeralds and sapphires. The organisation notes that gemstone prices, which have been increasing steadily in the last decade, could... 

Coloured gemstones market poised to increase  from $2bn to R10bn in next decade
GOING GREEN Emeralds and other gemstones may displace diamonds in future

Major mining software previewed at Indaba

By: Nadine James     26th January 2018 Mining software company MICROMINE will provide previews of its major product releases – Geobank 2018 and Micromine 2018 – at the Investing in African Mining Indaba, which will take place at the Cape Town International Convention Centre from February 5 to 8. The company will showcase its entire... 

Major mining software previewed at Indaba
PITRAM SOFTWARE Micromine launched a new version of Pitram in October 2017

Artisanal, small-scale mining explodes amid rising prices

By: Natasha Odendaal     22nd January 2018 A new report has revealed explosive growth in the number of artisanal and small-scale miners worldwide over the past two decades amid rising mineral prices and a general struggle in earning a living from agriculture. The Intergovernmental Forum (IGF) on Mining, Minerals, Metals and Sustainable... 

New ‘disruptive’ mine borer heads for Indaba unveiling

By: Martin Creamer     18th January 2018 A new Proudly South African mine tunnel borer that requires no blasting, delivers higher production advances, comes with a collaboration imprimatur and can be retrofitted to existing operations, will be unveiled at next month’s Mining Indaba in Cape Town and commissioned in the third quarter of... 

New ‘disruptive’ mine borer heads for Indaba unveiling
Photo by Duane Daws
Danie Pretorius

DRA expands Asia-Pacific footprint

By: Martin Creamer     17th January 2018 Global engineering, project delivery, contract operations specialist and asset management group DRA’s acquisition of Perth-based Minnovo expands its Australian footprint and adds depth to its metallurgical, engineering, procurement, project management, construction and commissioning capabilities... 

DRA expands Asia-Pacific footprint
Photo by Duane Daws
DRA CEO Wray Carvelas

Glencore reserves should be valued higher – analysts

By: Martin Creamer     15th January 2018 Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has towards managing its assets. Reflecting on the decision of Glencore to pull metal from the market... 

Glencore reserves should be valued higher – analysts
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Ian Harebottle appointed Kropz CEO

By: Anine Kilian     15th January 2018 South Africa-based plant nutrient company and miner of fertiliser feed materials Kropz has appointed Ian Harebottle as group CEO. Harebottle, who stepped down as CEO of Aim-listed Gemfields in July last year, will join Kropz on March 28, once his contract with the diamond miner has ended.   “I am... 

Ian Harebottle appointed Kropz CEO
Ian Harebottle

Gem discovers 910 ct diamond

By: Anine Kilian     15th January 2018 LSE-listed Gem Diamonds has recovered a 910 ct, D colour Type IIa diamond from its Lesotho-based Letšeng mine. The diamond, the largest recovered from the mine, is believed to be the fifth-largest gem-quality diamond ever recovered. 

Gem discovers 910 ct diamond
Clifford Elphick

Bernard Olivier appointed as Mustang MD

By: Megan van Wyngaardt     15th January 2018 ASX-listed Mustang Resources has appointed' Dr Bernard Olivier to its board as MD, and has created a new position of COO, which is filled by Cobus van Wyk. Olivier has stepped into the position that Christiaan Jordaan vacated in November. 

Fura closes in on Colombian emerald mine buy; to create single-stop Dubai-based gemstone shop

By: Henry Lazenby     13th January 2018 Canadian gemstone-focused miner Fura Gems is setting up a single-stop destination in Dubai, where rubies and emeralds produced from its Mozambique and Colombian assets will be graded and sold at the Almas Tower. “The Almas Tower is arguably one of the most secure spaces in the world, from where... 

Fura closes in on Colombian emerald mine buy; to create single-stop Dubai-based gemstone shop

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia
Industrial Development Corporation research and information head Jorge Maia and Unctad economic affairs officer Stefan Csordas respond to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Mustang secures A$19.95m from US investor for Mozambique mines

By: Megan van Wyngaardt     8th January 2018 ASX-listed Mustang Resources has secured A$19.95-million in funding from US institutional investor Arena Investors and announced a rights issue to further advance its projects in Mozambique. Arena has agreed to invest the funding through an unsecured convertible note facility, to be drawn down in... 

Crucial for commodity countries to build economic resilience – Unctad 

By: Martin Creamer     11th December 2017 Without policy change, commodity-dependent developing countries risk falling short of achieving their sustainable development goals (SDGs) by 2030, United Nations Conference on Trade and Development (Unctad) economic affairs officer Stefan Csordas warned on Monday. Unctad and the Food and... 

Crucial for commodity countries to build economic resilience – Unctad
Unctad’s Stefan Csordas discusses commodities report with Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Video Editing: Lionel de Silva.

Cyril Ramaphosa calls for mining sector action 

By: Martin Creamer     11th December 2017 South Africa must urgently break the ongoing deadlock on the regulation and transformation of the mining sector to ensure the proper use of this country’s world-class mineral resources, says Deputy President Cyril Ramaphosa. In an article on the CR17 Siyavuma campaign website, ahead of this... 

Cyril Ramaphosa calls for mining sector action
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Richland halts operations at Queensland sapphire mine

By: Mariaan Webb     11th December 2017 Aim-listed Richland Resources has temporarily suspended mining activities at its Capricorn sapphire mine, in Queensland, citing extreme weather conditions and a weak market environment. The company said on Monday that it had decided to halt operations to conserve cash resources, as heavy rainfall... 

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth 

By: Martin Creamer     8th December 2017 New ‘Proudly South African’ start-up Erudite Strategies has hit a rich vein of acceptance in Australia, where investors in junior mining projects in Africa are showing alacrity in taking up its unique client representative and owner’s engineer offering. Each of Erudite’s three leading lights has... 

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth
Mining Weekly Online’s Martin Creamer interviews Johann de Bruin, the founding director of the new project engineering company Erudite. Video: Nicholas Boyd. Video Editing: Nicholas Boyd and Lionel da Silva.

Pallinghurst targets London, okays share buyback, halves executive pay

By: Martin Creamer     7th December 2017 Diversified mining and marketing company Pallinghurst, which has moved fast to stabilise the now-integrated coloured gemstone acquisition, is initiating a listing on the main board of the London Stock Exchange, going ahead immediately with a share buyback programme and benefitting from executive... 

Pallinghurst targets London, okays share buyback, halves executive pay
Photo by Duane Daws
Pallinghurst CE Arne Frandsen

Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Change or lose another 100 000 mining jobs – Cutifani
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Richland sees signs of sapphire pricing recovery

By: Mariaan Webb     13th November 2017 Aim-listed Richland Resources’ strategy shift to larger-scale sales events appears to be yielding results, with CEO Bernard Olivier reporting on Monday that the company had started to see signs of prices recovering. Richland, which owns the Capricorn mine in Queensland, achieved total sales... 

Pallinghurst's Gemfields earns record $55m in latest ruby auction

By: Anine Kilian     13th November 2017 JSE-listed Pallinghurst Resources’ Gemfields subsidiary has generated $55-million in revenue from an auction of rough rubies. The auction, which was held in Singapore from November 6 to 10, generated the highest revenues ever attained at a Gemfields auction. 

Sapphire prices under pressure from Madagascar influx – Richland

By: Mariaan Webb     1st November 2017 An influx of gemstones from Madagascar is putting the price of sapphire under pressure, prompting Australian producer Richland Resources to shift its sales strategy. The London-listed company, which operates the Capricorn mine in Queensland, has transitioned towards larger-scale, more strategic... 

Pallinghurst’s latest auction rakes in $21.5-million

By: Anine Kilian     6th October 2017 An auction of higher-quality rough emeralds held by JSE-listed Pallinghurst subsidiary, Gemfields, has generated revenues of $21.5-million. The auction saw 36 companies placing bids with a strong overall average value of $66.21/ct, the second-highest per carat price achieved by Gemfields’... 

Despite lower valuation, research firm provides favourable update for Mustang

By: Ilan Solomons     29th September 2017 Australian and US investment research firm Independent Investment Research (IIR) has updated its valuation for ASX-listed junior miner Mustang Resources, with this resulting in a slightly lower base case 12-month price target of $85-million, or $0.16 a share, a 225% premium to the current price.... 

Despite lower valuation, research firm provides  favourable update for Mustang
Photo by Mustang Resources
POSITIVE RESULTS Bulk sampling and test pitting within the newly acquired 8245L licence at Montepuez is delivering high quality stones from this secondary deposit

Integration of Gemfields realising cost benefits – Pallinghurst

By: Martin Creamer     26th September 2017 The integration of Gemfields is beginning to realise cost benefits, Pallinghurst reported on Tuesday when it reiterated its transformation into a long-life operating mining company from being a former closed-end investment vehicle. In presenting half-year results of the company on Tuesday,... 

Integration of Gemfields realising cost benefits – Pallinghurst
Photo by Duane Daws
Pallinghurst CEO Arne Frandsen

Pallinghurst widens H1 losses

By: Natasha Odendaal     21st September 2017 JSE-listed Pallinghurst Resources expects its losses for the six months to June 30, to widen, owing to decreases in the valuation of the company’s investments. A headline loss a share of $0.10 is anticipated for the half year under review, deteriorating from a headline loss a share of $0.04... 

Tanzanian ministers implicated in diamond-mining probe quit

By: Bloomberg     8th September 2017 Two Tanzanian ministers resigned after President John Magufuli told government officials suspected of wrongdoing in an investigation into the nation’s diamond- and Tanzanite-mining industries to step down. Edwin Ngonyani, a deputy minister of works, transport and communication, said he resigned... 

Richland’s Queensland sapphire mine approaches profitability

By: Mariaan Webb     7th August 2017 The ramp up of the Capricorn sapphire mine to 1.2-million carats a quarter has lifted Richland Resources’ half-year performance, with the Aim-listed company on Monday reporting a significant revenue increase. The mine, in Queensland, delivered 1.96-million carats in the first six months of the... 

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