Global Mining News in real time

On-The-Air (12/12/2014)

Two South Africans are stimulating the big new surge in world ruby, emerald and coloured gemstone sales; South African coal miners are way behind their Australian counterparts on the productivity front; and Over-supply is killing commodity prices and putting mining operations at risk. 

Gemfields rakes in $43m from Southern African rubies

By: Creamer Media Reporter Creamer Media's Natalie Greve speaks to Mining Weekly editor Martin Creamer about gemstone company Gemfields' record revenues at a five-day ruby auction in Singapore. 

Gemfields rakes in $43m from Southern African rubies

By: Martin Creamer Coloured gemstone mining and marketing company Gemfields has achieved record revenues at a five-day ruby auction in Singapore, where the company raked in $43.3-million from the sale of rubies mined in Southern Africa. This latest value-focused auction generated $9.8-million more than the... 

Mozambique delivering on promised regulations as well as rubies and mineral sands

By: Keith Campbell Mozambique Mineral Resources Ministry Permanent Secretary Alfredo Nampete has given the assurance that the country’s government was in the final stages of drawing up the ordinances for the Mineral and Petroleum Laws. Speaking in the last week of November in the country’s capital, Maputo, he... 

Mozambique regulations, rare ruby auction, Mining Weekly boost

By: Martin Creamer New Mozambique mineral regulations before year-end; high praise for Gemfields rare ruby; Mining Weekly given distribution boost.  

Rare ruby expected to attract attention at Gemfields auction

By: Martin Creamer A rare ruby is expected to attract attention at London Aim-listed Gemfields’ upcoming ruby auction. The 40.23-carat rough ruby, unearthed at the company’s Montepuez deposit in Mozambique’s northeast Cabo Delgado province, is expected to set a new benchmark for the quality of African rubies. 

Latest Gemfields emerald auction yields $35m

By: Creamer Media Reporter Aim-listed Gemfields’ latest auction of rough emerald mined at its Kagem mine in Zambia has earned the company $34.9-million from the sale of 598 000 ct. The auction, which was held in Lusaka from November 13 to 17, was the second for the current financial year, and 16 of the 17 lots on offer had... 

Gemfields posts solid quarterly output, but lower grades

By: Natalie Greve Aim-listed Gemfields’ 75%-owned Kagem emerald mine, in Zambia, yielded 6.3-million carats at a grade of 214 ct/t of ore and unit operating costs of $1.63/ct in the three months ended September 30. This was a slight decrease on the 6.5-million carats recovered in the quarter ended September 30, 2013. 

Pallinghurst platinum mine invests in low-energy smelt alternative

By: Martin Creamer The platinum platform of diversified JSE-listed Pallinghurst has invested in a low-energy hydrometallurgical alternative to high-energy smelting. The environment-friendly Kell process, which Pallinghurst has been studying over a prolonged period, requires only a fifth of the electricity required... 

Gemfields triples FY revenue to $160m

By: Natalie Greve Posting a threefold jump in revenue from $48.4-million in 2013, to $160.1-million for the year ended June 30, gemstone producer Gemfields has enjoyed what CEO Ian Harebottle describes as a “stellar year”, during which the miner saw record revenues emerge from its emerald business. The group also... 

Gemfields pursues Sri Lankan sapphire opportunities

By: Creamer Media Reporter Aim-listed Gemfields has entered into a joint venture (JV) with East West Gem Investments (EWGI) to pursue opportunities in the Sri Lankan sapphire and gemstone sector. Under the terms of the agreement, Gemfields would gain a 75% stake in three EWGI subsidiaries, holding 16 exploration licences... 

Pallinghurst readies for share earnings jump in H1

By: Natalie Greve Johannesburg-listed Pallinghurst Resources expects earnings a share and headline earnings a share to increase to $0.14 for the half-year ended June 30, improving from a loss a share and headline loss a share of $0.10 in the first half of 2013.  “The significant period-on-period increase in... 

Gemfields achieves second-highest revenue from lower-quality gems

By: Natasha Odendaal Aim-listed Gemfields’ first auction of the current financial year netted the company the second-highest proceeds to be generated from lower-quality rough emerald and beryl sales. The rough emerald and beryl auction, held in Lusaka from August 5 to 8, earned the company revenues of $15.5-million... 

Gemfields narrows emerald output in Q4

By: Natalie Greve Gemfields’ 75%-owned Kagem emerald mine, in Zambia, tightened emerald output in the quarter ended June 30, yielding 6.3-million carats, compared with 8.9-million carats recovered in the comparable quarter of the previous year. Similarly, the average grade of 271 ct/t of ore was a narrowing of the... 

Mozambican rubies perform well at first auction

By: Keith Campbell The first auction of rough rubies and corundum from the Montepuez ruby mine in Mozambique, held in Singapore from June 12 to June 17, brought in revenues of $33.5-million. This was reported by London Stock Exchange AIM-listed Gemfields plc, which owns 75% of miner Montepuez Ruby Mining Limitada.... 

Inaugural ruby auction nets $33.5m – Gemfields

By: Creamer Media Reporter The inaugural auction of rough ruby and corundum mined at Aim-listed Gemfields’ 75%-owned Montepuez deposit, in Mozambique, has raised $33.5-million, taking the coloured-gemstones mining and marketing company’s overall revenue for rough gemstone sales to in excess of $143-million for the current... 

Gemfields emerald auction yields $13.5m revenue

By: Leandi Kolver Coloured-gemstones mining and marketing company Gemfields on Tuesday reported a gross revenue of $13.5-million after selling 268 000 ct of emeralds at auction. The revenue from this latest auction, which took place from April 28 to May 2, in Jaipur, India, was 59% higher than that of the prior... 

Gemfields prepares for inaugural ruby auction, reports sound quarter

By: Natasha Odendaal JOHANNESBURG ( – As operations ramp up at its 75%-owned Montepuez ruby deposit, in Mozambique, Aim-listed Gemfields is preparing for its inaugural ruby auction in Singapore in mid-June. "Gemfields is pleased to report on another sound quarter [to March], which has seen further... 

Gemfields secures $15m unsecured loan from key shareholder

By: Natalie Greve Aim-listed Gemfields has inked a $15-million unsecured, 12-month working capital facility with specialist natural resources investment company and key shareholder Pallinghurst Resources, the funds of which will be used to “smooth" the company's centrally available cash flow. This came as the... 

Resources Watch

By: Creamer Media Reporter This week: Pallinghurst brings in new technology to boost its platinum business. And, Gemfields is doing the ‘De Beers-equivalent’ in emeralds. 

Gemfields rolls out ‘the art of colour’

Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about gemstones miner Gemfields' 'art of colour' strategy. 

Gemfields doing ‘De Beers-equivalent’ in emeralds

By: Martin Creamer London-listed coloured-gemstones mining and marketing company Gemfields, which Pallinghurst chairperson Brian Gilbertson says is doing for emeralds what De Beers did for diamonds, is now aspiring to repeat the performance in rubies. Gemfields, in which the resources fund of the JSE-listed... 

Gemfields achieves record revenue at gem auction

By: Natasha Odendaal London-listed Gemfields marked a “record revenue” year after its third auction of the year achieved revenue of $36.5-million after selling 15 of the 17 lots of gemstones on offer. The company reported in a statement on Wednesday that year-to-date revenue from rough emerald and beryl sales,... 

Gemfields achieves record revenue of $16.4m at low-grade gem auction

By: Natalie Greve Gemfields has sold 5.6-million carats of low-grade emerald and beryl for a record $16.4-million at its most recent auction in Lusaka, Zambia. The auction, which was the second offering of gems mined by the company at its Kagem emerald mine, in Zambia, saw 21 companies attending, with 20 companies... 

India emerald sale yields record $58/ct for Gemfields

By: Natalie Greve Aim-listed Gemfields has generated gross revenue of $8.5-million from a recent rough emerald auction in Jaipur, India, at which the gemstone miner realised an average price of $58/ct – the highest price achieved thus far by the company at any auction. Of the 29 lots offered at the auction, 17... 

Gemfields revenue drops 42%, operations performing well

By: Leandi Kolver Aim-listed coloured gemstone miner Gemfields on Thursday reported a 42% drop in revenue to $48.4-million and a net loss of $22.8-million for the year ended June 30, mostly owing to disruptions in the company’s emerald auction schedule. This was a significant drop from the company’s $161.5-million... 

Pallinghurst widens H1 loss, platinum IPO planned for 2014

By: Natalie Greve JSE-listed Pallinghurst Resources has widened its net loss for the six months ended June 30 to $76.4-million, from a loss of $14.6-million in the comparable prior period, despite record production of 66 000 oz at its newly consolidated Sedibelo Platinum Mines. The resource investment group... 

Zambia’s economy set to grow by 8.1% in the next few years

By: Zandile Mavuso The completion of major copper mining projects in Zambia next year is expected to contribute to economic growth of 8.1% from 2014 to 2016, advisory firm KPMG states. 

Gemfields boosts Kagem output, talks over auctions continue

By: Idéle Esterhuizen Aim-listed Gemfields on Monday reported improved production results from its 75%-owned Kagem mine, in Zambia, and said that negotiations with the Zambian government over the location of its auctions were continuing. The company increased production from Kagem, in which the Zambian government owns... 

Gemfields nets $31.5m in Lusaka auction

By: Idéle Esterhuizen The 583 448 ct of rough emerald and beryl that Gemfields put on auction in Lusaka last week have earned the Aim-listed junior $31.5-million in revenue. The company reported on Monday that 37 companies had attended the auction, which was moved to Lusaka from Singapore at the request of the Zambian... 

Gemfields shifts emerald auction to Lusaka

By: Natasha Odendaal Aim-listed Gemfields, which earlier this month had to postpone its Singapore auction, said on Monday it would now sell its higher-grade rough emeralds in Lusaka, Zambia, at a July 15 to 19 auction. The firm would auction rough emeralds mined by its 75%-owned Kagem Mining at its namesake emerald... 

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