The South African firm has secured control of the gemstones producer and plans to delist it.
Diamond Mining News
Gemfields has been at the centre of a bidding war between the South African private equity group and Fosun Gold, a unit of Fosun International.
Ratings agency Moody's warned on Wednesday that new regulations seeking to accelerate black ownership in South Africa's mining industry would deter investment, raise costs and diminish cashflow generation.
South Africa-listed Pallinghurst now needs just 60% of Gemfields’ shareholders to back its unsolicited takeover offer.
De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fifth sales cycle of 2017.
The precious stones miner has recommended shareholders to accept offer, despite considering it “unfair.”
The miner's Jubilee pipe is famous for its large finds.
World leading diamond mining company looks to grow with DMCC and Dubai
Them mv SS Nujoma is the sixth diamond exploration vessel to join the fleet of Debmarine Namibia, a 50/50 joint venture between the government of that African country and De Beers.
It sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record.
Gemfields, which mines for emeralds and amethysts in Zambia and for rubies in Mozambique, had already received a buyout offer from largest shareholder Pallinghurst Resources.
Sellers and buyers of responsibly sourced, exceptional polished diamonds will be able to transact anonymously via the De Beers Auction Sales platform for the first time this month, when the exceptional polished stones auction is held on 29 June.
The last time Gem Diamonds had had made a significant discovery at its Letšeng mine before April this year was in 2015.
ALROSA, the world leader in diamond mining, has announced diamond sale results for May and the first five months of 2017.
The EU regulation on mineral sourcing that comes into force today will not be effective enough due to its limited scope and delay in implementation.
Stuart Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.
IIDGR unveils industry-first synthetic screening device for testing multiple stones in set jewellery
The International Institute of Diamond Grading & Research (IIDGR), a De Beers Group company, today unveiled SYNTHdetect – the first synthetic screening device in the industry to test multiple stones in set jewellery at once without the need for a probe.
Son of Putin ally to focus on reduced costs in new role as CEO
Exemption license for rough diamonds was reportedly denied
TSX and NASDAQ-listed company said it unearthed two gems, one at 53.9 carats and the other at 84.65 carats, from Gahcho Kué in April.
Company called Pallinghurst Resources' bid “derisory”, adding it "clearly undervalues" the firm.
The rock, a 5.36-carat green gem quality octahedron rough diamond, was unearthed at the company's Krone-Endora project, located next to the world’s third largest diamond mine.
The a 3.48 carat round brilliant, mined, cut and polished in Namibia, that now bears a ‘2,000,000’ imprinting.
PJSC ALROSA, the world leader in diamond mining, will participate in the development of a new diamond deposit in Angola.
The project, called Misery Deep, will require an investment of $6 million in 2018, $69 million in 2019 and $19 million in 2020.