Gemfields Mining News

Mozambique's ruby mining goes from ‘Wild West’ to big business

Country now accounts for as much as 80 percent of global ruby output.

Fura Gems grabs more ruby assets in Mozambique

Gemstone producer us is expanding its footprint in Mozambique by acquiring nine ruby assets from ASX-listed Mustang Resources and Regius Resources Group.

Emeralds and rubies producer Fura Gems changes look

The company, which began operations a year ago, said the move seeks to strengthen its communication with key stake holders and consumers.

Gemfields driving proof of origin and greater transparency for coloured gemstone sector

The coloured gemstone sector has no system, globally at scale, that allows gemstones to be confidently traced from mine to market.

Fura Gems finds giant emerald at historic Coscuez mine in Colombia

The 25.97-carat rough emerald is considered both “rare and exceptional” given its size, colour saturation and clarity.

Gemfields talks up ‘responsibility’ amid lawsuit over alleged human rights abuses

The UK miner, which is the world's top coloured gems producer, is also adopting a new technology to further drive transparency in the sector.

Fura Gems kicks off initial production at iconic Coscuez emerald mine

Early output of 1,720 carats of emeralds, including 826 carats of top quality ones, was achieved through a bulk-sampling program carried out within eight weeks of the completing the acquisition of the mine

Fura Gems to restart Colombia’s iconic Coscuez emerald mine in April

New gemstones mining and marketing company is stepping up efforts to kick off operations at some of its key assets and help organize what it calls "a highly disorganized and fragmented industry."

Gemfields reveals and denies fresh human rights abuse claims in Mozambique

As part of Gemfields' philosophy of “total transparency”, the company revealed is facing claims of human rights abuses in Mozambique, where it mines rubies.

Former Gemfields exc.-led firm grabs Coscuez emerald mine in Colombia

Fura Gems aims to resume production at the mine within six months of the deal closure.

Gemfields shares collapse on imminent delisting

The South African firm has secured control of the gemstones producer and plans to delist it.

Pallinghurst shareholders back acquisition of Gemfields

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.

Gemfields stock hit by Pallinghurst’s move to lower approval threshold for its bid

South Africa-listed Pallinghurst now needs just 60% of Gemfields’ shareholders to back its unsolicited takeover offer.

China's Fosun sweetens offer for Gemfields

The precious stones miner has recommended shareholders to accept offer, despite considering it “unfair.”

Gemfields beats own ruby sales record at Singapore auction

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.

China's Fosun spices up battle for Gemfields with 10% bid premium

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.

Gemfields steps up fight against takeover by largest investor

Company called Pallinghurst Resources' bid “derisory”, adding it "clearly undervalues" the firm.

Gemfields postpones emerald auction over India's ‘demonetization’

The auction of emeralds from the miner's Kagem operation in Zambia will now be in February.

Gemfields Unveils: Ruby Inspired Stories

Gemfields is proud to unveil ‘Ruby Inspired Stories’, a triptych of films featuring up-and-coming global female talent, each exploring the hidden meaning behind these captivating gemstones.

Gemfields fetches $29 million in Singapore rubies auction

The company managed to sell 90,642 carats of the 92,136 carats it made available under the auction.

Gemfields shares soar on ‘knock out’ auction results

The emeralds and rubies miner raised $19.2 million from its recent auction in Jaipur, India.

Gemfields mine in Zambia richer than initially thought

According to SRK, the company needs to spend $84 million over the first four years of the project

Gemfields expands outside Africa, targets Latin America emerald assets

The London-listed precious stones miner plans to buy two emerald projects in Colombia.

Gemfields Mozambique mine to yield rubies for over 20 years

An independent report has confirmed the Montepuez mine holds the largest deposit of rubies in the world, with projected output of 432 million carats over 21 years.