R/€ = 14.99 Change: -0.12
R/$ = 12.27 Change: -0.17
Au 1324.06 $/oz Change: -17.04
Pt 922.00 $/oz Change: -9.99


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... 

India's growing economy holds promise for coal exporters

By: Kim Cloete     1st February 2018 India’s growing economy is hungry for coal, with a huge demand for imported coal, delegates attending the IHS Markit South African Coal Export Conference, in Cape Town, have heard. Adani Enterprises COO for Coal Trading Rajendra Singh said the Indian government was investing heavily in... 

Mustang granted Montepuez mining concession

By: Creamer Media Reporter      10th October 2017 The Mozambique Minerals and Energy Ministry has granted ASX-listed Mustang Resources a mining concession for its Montepuez project. The concession is valid until September 2042 and paves the way for the company to increase its processing capacity, as planned, following its maiden tender. 

Montepuez production suffers owing to lower ore grade

     9th June 2017 The Montepuez ruby deposit in Mozambique, owned by gemstone mining and marketing company Gemfields, produced 1.2-million carats of ruby and corundum in the three months ending March 31, declining compared with the two-million carats produced in the previous year’s quarter. The company notes that... 

Gemfields achieves ‘mixed’ results in Q3; withdraws from Colombia, Sri Lanka operations

By: Anine Kilian     12th May 2017 Aim-listed Gemfields’ 75%-owned Kagem mine in Zambia produced 4.5-million carats of emerald and beryl during the quarter ended March 31. This was three-million carats less than the same period last year, with Gemfields attributing the lower output to inclement weather during the period. It is... 

Slag use in building system offers multiple benefits

     31st March 2017 Alternative construction system company Moladi has developed a means of incorporating mine slag into its Moladi mix, offering mining companies a viable method for recycling their waste material and reduced construction costs when developing mine-site accommodation. Moladi founder and CEO Hennie... 

First Graphite gets feedstock in Sri Lanka

By: Esmarie Swanepoel     13th January 2017 Junior First Graphite has inked a purchase agreement with Sri Lanka government-owned Kahatagah Graphite Lanka (KGLL) to purchase all its premium-grade vein graphite for a two-year period. The sales agreement will ensure that First Graphite has a sufficient supply of graphite to commission and... 

Gemfields postpones emerald auction for Indian customers to adjust to new reforms

By: Natasha Odendaal     1st December 2016 Aim-listed Gemfields has postponed its emerald auction until February to allow its India-based customers time to adjust to that country’s newly implemented demonetisation programme, which removes high denomination banknotes from circulation. The two-month delay in auctioning the predominantly... 

Gemfields posts higher FY profits as production shines

By: Natasha Odendaal     26th September 2016 Significant operational progress at Aim-listed Gemfields’ 75%-owned mining assets in Zambia and Mozambique have translated into strong financial output in the year ended June 30. The gemstone miner on Monday posted a profit after tax of $23.5-million for the year under review, up 91% on the... 

India banking on coal exports to manage rising stockpiles

By: Ajoy K Das     19th July 2016 Coal exports could hold the key to managing mounting coal stockpiles in India, with shipments to neighbouring countries seen as the most obvious choice to mark the country’s entry into the coal export market. Under advice from the Coal Ministry, Coal India Limited (CIL) has started exploring... 

SA helps developing nations improve mineral processing, beneficiation knowledge

By: Ilan Solomons     10th June 2016 South Africa is hosting 19 delegates from 13 Non-Aligned Movement (NAM) member States in a training programme to build capacity in minerals processing and beneficiation in these countries. NAM is a movement of 115 members representing the interests and priorities of developing countries. 

First Graphite awarded mining licence in Sri Lanka

By: Esmarie Swanepoel     7th April 2016 Junior First Graphite on Thursday announced that it had received an industrial mining licence for its Pandeniya project, in Sri Lanka from the Geological Survey and Mines Bureau. MD Craig McGuckin said that this was the first new underground ‘A’ class industrial mining licence issued in the last... 

Final Lisheen zinc shipment leaves gap Southern Africa can fill – Vedanta 

By: Martin Creamer     25th January 2016 The final shipment of zinc from Vedanta Resources' Lisheen mine has brought zinc supply from the Irish mine to an end, opening up an opportunity for the Gamsberg project, which is inching forward at a carefully measured pace in South Africa’s Northern Cape. Lisheen’s closure means that some 120... 

Mozambique rubies have auction success in Singapore

By: Keith Campbell     3rd July 2015 UK mining company Gemfields has announced the results of the fourth auction of rough rubies by its Mozambican subsidiary, Montepuez Ruby Mining (Montepuez). The auction, held in Singapore, raised $29.3-million. Gemfields owns 75% of Montepuez, with the other 25% being held by Mozambican company... 

Jaipur ruby auction raises $16.1m – Gemfields

By: Creamer Media Reporter      23rd April 2015 The latest auction of predominantly lower-quality ruby and corundum mined at Aim-listed Gemfields’ 75%-owned Montepuez mine, in Mozambique, has generated revenues of $16.1-million. About 40 companies attended the auction, which was held in Jaipur, India, from April 17 to 22. Auction attendees... 

Pallinghurst shares rise on triple performance in troubled times 

By: Martin Creamer     23rd March 2015 The shares of diversified mining company Pallinghurst rose by more than 4% in Johannesburg on Monday after the company reported a rise on the performance of its platinum, manganese and coloured gemstones business units during troubled times. In the 12 months to December 31, the JSE-listed... 

Pandor emphasises need for resource-rich countries to diversify economies

By: Schalk Burger     16th January 2015 The exploitation of minerals must form the basis of diversified economies in the developing world, said Science and Technology Minister Naledi Pandor on Thursday. “Exports of raw materials and oils often strengthen a currency, rendering other products less competitive and driving them out of... 

Iluka continues Kenmare takeover talks

By: Esmarie Swanepoel     9th January 2015 Australian mineral sands miner Iluka Resources has confirmed that it was still in discussions with London-listed Kenmare Resources regarding a possible takeover. Kenmare earlier this week reported that Iluka had continued with its technical and non-technical due diligence over the company, in... 

Gemfields rakes in $43m from Southern African rubies

By: Martin Creamer     9th December 2014 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... 

Gemfields posts solid quarterly output, but lower grades

By: Natalie Greve     14th November 2014 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. 

Gemfields pursues Sri Lankan sapphire opportunities

By: Creamer Media Reporter      15th September 2014 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... 

Weaker prices see Iluka post big profit decline

By: Esmarie Swanepoel     22nd August 2014 Mineral sands miner Iluka has reported a significant decline in net profit after tax, owing to lower prices. Net profit for the six months to the end of June dropped to A$11.7-million, compared with the A$34.3-million reported in the previous corresponding period. Revenue from mineral sand sales... 

Kenmare rejects Iluka takeover bid

By: Esmarie Swanepoel     26th June 2014 London-listed Kenmare Resources has rejected a proposed takeover offer by Australian mineral sands miner Iluka Resources. Iluka told shareholders that it had approached Kenmare regarding the potential combination of the two companies, but said it was uncertain at this time if any transaction... 

Iluka profit plunges to A$18.5m

By: Esmarie Swanepoel     21st February 2014 Mineral sands miner Iluka on Friday reported markedly lower profit of A$18.5-million for 2013, compared with A$363.2-million in 2012, and said demand for some of its products were lower than usual. Group earnings before interest, tax, depreciation and amortisation declined 60.6% year-on-year to... 

Iluka aquires Sri Lankan tenements

By: Esmarie Swanepoel     3rd October 2013 Mineral sands miner Iluka Resources has increased its heavy mineral resource base by some 46%, following the acquisition of Sri Lanka-based PKD Resources. In August this year, Iluka announced that it would acquire all the issued capital of PKD Resources, which owns exploration tenements covering... 

Coloured gemstones to be tracked and certified

By: Natasha Odendaal     12th April 2013 The International Colored Gemstone Association (ICA), the United Nations Interregional Crime and Justice Research Institute (Unicri) and the Vienna International Justice Institute (VIJI) have joined forces to develop an initiative aimed at tackling the illegal movement and trade of coloured... 

Bora Bora shares climb as Sri Lankan graphite beckons

By: Esmarie Swanepoel     28th November 2012 The shareholders of ASX-listed Bora Bora Resources responded enthusiastically to news that the company would acquire a stake in graphite tenements in Sri Lanka, with the company’s share prices skyrocketing by more than 86% on Wednesday. Bora Bora told shareholders that it had reached an... 

The gold mining legend of King Solomon’s Mines

     29th June 2012 Perhaps the most famous legend concerning gold and the mining thereof is the narrative of King Solomon’s Mines in the legendary land of Ophir.  


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