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Gemstones News
Tanzania says to start cancelling inactive mining licences
By: Reuters 22nd May 2019 Tanzania will start cancelling inactive mining exploration licences and distribute the acreage to artisanal miners who are able to immediately commence activity in the area, a minister said on Tuesday. Deputy minister for minerals, Stanslaus Nyongo, told parliament he had issued an order that... →
Gemfields reports signs of recovery in emerald sector
By: Tasneem Bulbulia 20th May 2019 JSE-listed Gemfields continues to see “encouraging” signs of a recovery in the emerald sector, product and sales MD Adrian Banks said in a statement on Monday. This follows Gemfields’ latest auction of higher-quality rough emeralds, in Singapore, which generated revenue of $22.4-million and... →
President's correct, S Africans need to act together to realise economic opportunities – Baissac 
By: Martin Creamer 14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... →
Gemfields warns about forced illegal mining ‘slavery’ in Mozambique
By: Marleny Arnoldi 13th May 2019 London-based Gemfields warned in a statement on Monday that illegal miners were putting their lives at risk and facing “modern slavery” in Mozambique, where the company owns 75% of Montepuez Ruby Mining (MRM). The coloured gemstones miner has observed increasing numbers of illegal miner pit... →
Worley creating a force for the future of resources and energy
By: Martin Creamer 7th May 2019 Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries. While financially a $3.2-billion acquisition, operationally... →
From left, Krish Iyer, president Middle East Africa, Francois Bosch, business development (BD) sales manager, East Africa, Denver Dreyer, senior vice president Mining Minerals and Metals (MM&M), Europe Middle East Africa, Ian Davies, senior vice president, BD & Growth MEA, Ryan Froude, operations manager, East Africa, Robert Hull, vice president, MM&M, Africa, and Ed Hanbidge, vice president, Energy Chemicals and Services, Southern and Eastern Africa.
International Kagem emerald promotion boosts Zambia’s revenue – Gemfields
By: African News Agency 2nd May 2019 Emeralds from Zambia’s Kagem mine have captured the eye of some of the foremost gemstone buyers and jewellers around the world, helping boost revenue for the southern African country, parent company Gemfields has said. “We are excited because appreciation of Zambian emeralds is gaining momentum... →
Gemfields sells Jupiter shareholding for $31m
By: Marleny Arnoldi 15th April 2019 JSE- and BSX-listed Gemfields’ subsidiary, Pallinghurst Consolidated, will sell the 145-million shares it holds in ASX-listed Jupiter Mining to AMCI Euro Holdings for A$44-million, or $31-million. Gemfields stated on Monday that the transaction was consistent with the board’s strategy for the... →
Gemfields confirms $60m full-year loss
By: Simone Liedtke 25th March 2019 JSE-listed Gemfields on Monday confirmed that it had posted a $60.4-million net loss for the year ended December 31, 2018, compared with a $45.1-million profit in 2017. As set out in a trading statement published on Friday, the group attributed the loss to impairment charges and fair value loss... →
Gemfields mulls London listing, looks back on challenging 2018
By: Simone Liedtke 25th March 2019 JSE-listed Gemfields is considering an additional listing on the LSE during this year, without an associated capital raise, in an effort to address the lack of broker research and share trading liquidity. Paying a maiden distribution to its shareholders remains a key ambition for the miner for... →
Gemfields chairperson Brian Gilbertson
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... →
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... →
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.... →
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... →
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... →
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 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... →
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... →
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... →
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... →
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. →
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... →
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