Mozambique Mining News

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.

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.

SEC said to be probing Rio Mozambique coal deal

World number two miner acquired Southern African coal assets for $3.7 billion in 2011 – sold it for $50 million three years later.

Met coal price surge could revive giant Mozambique project

Vale reworks agreement with Japan's Mitsui that could breathe new life into $4.4 billion expansion of Moatize mine and railway in Southern African nation.

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.

Vale says write down of Mozambique coal venture won’t affect project

Company denied reports claiming that partner Mitsui was revising the terms of their association.

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.

World’s two biggest miners walking away from coal, but they are not telling

BHP Billiton and Rio Tinto have significantly cut their investments in coal, while repositioning behind the scenes.

Follow the yellow brick road: a journey into the world of coloured gemstones

For nearly five centuries gemstones have been synonymous with wealth, power, luxury and royalty.

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.

Vale sells Integra coal mine in Australia to Glencore and Bloomfield

The sale follows last month’s touted deal with Stanmore Coal, which bought Vale's Isaac Plains coal mine for just a dollar.

Indian miner to expand operations at Rio's former Mozambique coal assets

ICVL wants boost annual production at its Benga mine from 5.3 million tonnes to 13 million tonnes in the next five years.