R/€ = 16.21 Change: -0.12
R/$ = 14.35 Change: -0.03
Au 1387.70 $/oz Change: 44.22
Pt 807.16 $/oz Change: 5.47


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 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... 

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 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. 

Kenya to establish gold refinery in bid to boost mining revenue

By: Bloomberg     19th October 2018 Kenya is seeking consultants for a feasibility study on a planned gold refinery in the East African nation’s western town of Kakamega, in a bid to boost earnings by small-scale miners. “The aim of the project is to improve the livelihoods of the beneficiary community, regional economy and that of... 

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. 

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 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... 

Gemfields’ latest auction nets $71.8m

By: Simone Liedtke     11th June 2018 JSE-listed Pallinghurst Resources’ Gemfields subsidiary sold about 95% of its lots on offer at an auction of rough rubies held in Singapore last week. The auction yielded an all-time auction record for the company, generating $71.8-million in revenues with the rubies sold at an average realised... 

MMEC conference outlook indicative of state of mining industry

By: Melissa Zisengwe     8th June 2018 The increase in international participation at the sixth edition of the Mozambique Mining, Energy and Natural Gas Conference (MMEC) reflected the state of the Mozambique mining industry, which is an emerging market, says event organiser AME Trade. The conference was held in Maputo on April 25 and... 

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