Mozambique Mining News

Zambia tax authority goes after Gemfields

Zambia’s Revenue Authority served the firm two search warrants during an unannounced visit to its Kagem mine.

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.

Burning villages, ethnic tensions menace Mozambique gas boom

Women’s cries just after 1 a.m. confirmed Barnabe Samuel Mussa’s worst fears -- an attack was underway.

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.

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

Rio Tinto, former execs. once again move to have SEC case dismissed

Lawyers acting for the company, its former chief executive Tom Albanese, and its ex finance director Guy Elliott say charges brought by the SEC are 'plainly wrong.'

Australia takes Rio Tinto to court over Mozambique coal deal

Australia’s corporate watchdog has launched court action against the company, former chief executive Tom Albanese and chief financial officer Guy Elliott.

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.

Rio Tinto and two former top execs must face fraud charges — SEC

SEC will push ahead with the prosecution of the company, former chief executive Tom Albanese and ex-chief financial officer Guy Elliott over alleged attempts to cover up multi-billion losses on a coal investment in Africa.

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.

Rio facing class action in the U.S. over Mozambique coal mine

The filing cited Anton Colbert of Cook County, Illinois, as lead plaintiff but his action acts in the name of “hundreds or thousands of members in the proposed class.”

SEC charges Rio Tinto, former top executives with fraud

Lawsuit against ex-CEO Tom Albanese, CFO Guy Elliott centers on $3.7 billion acquisition of Mozambique coal assets in 2011 later sold for just $50m.

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.

Coking coal price slides to 8-month low

Cyclone Debbie forcing Asian steelmakers to diversify supply – Mozambique could be big beneficiary.

Gemfields steps up fight against takeover by largest investor

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

Coking coal price finally breaks fall

Indian consortium plans to restart Benga mine in Mozambique bought from Rio Tinto for a fraction of Melbourne company's original purchase price.