Gemstones - Copperbelt Katanga Mining

Gemfields Surpasses Auction Revenue Milestone with Strong Ruby Sales

December 7, 2023December 7, 2023 Constance

Gemfields, renowned for its ruby and emerald mining, recently concluded a successful auction, boasting total revenues of $69.5 million from the sale of 97 lots, comprising 239,591 carats of rough rubies. The average price realized for the rubies stood at $290.02 per carat, marking a prosperous auction for the mining company. These rough rubies, extracted by Montepuez Ruby Mining (MRM), a joint venture with Mozambican partner Mwiriti (75% owned by Gemfields and 25% by Mwiriti), will see the entire proceeds repatriated to MRM in Mozambique. Notably, all owed royalties to… Read More Here

Mining in Zambia Gemstones Precious Stones

Zambia Introduces Cutting-Edge Digital System for Gemstone Oversight

November 26, 2023November 26, 2023 Constance

Zambia takes a significant leap forward in gemstone management as the Ministry of Mines, in collaboration with the Zambia Revenue Authority (ZRA), introduces a cutting-edge online system for gemstone production reporting and export permits. This groundbreaking platform is set to revolutionize how the country oversees gemstone production reports and compliance processes. Hapenga Kabeta, Permanent Secretary of the Ministry of Mines, heralds the digital platform as a game-changer, poised to streamline gemstone production return filings and simplify permit applications within the sector. Dr. Kabeta envisions the system as a catalyst for… Read More Here

International Gemstones Precious Stones

Mozambique Forecasts a 38.8% Decline in Ruby Output for the Year

November 4, 2023November 4, 2023 Constance

The Mozambican government has warned that the country will miss its planned ruby production target this year. Output is expected to fall by almost 40% compared to 2022, when production of the stone reached 4.4 million carats. According to a report from the Ministry of Economy and Finance on the budget execution of the first semester, which Lusa accessed today, production data for three companies show that “the planned for the year will not be achieved 2023, with a decrease of around 38.83% expected”. This decline is explained by “the… Read More Here

Mining in Zambia Emeralds Gemstones

Emeralds and rubies continue to give Southern Africa exceptional gemstone hues

October 5, 2023October 5, 2023 Constance

Southern Africa continues to dazzle the world with its stunning gemstones, as the lush green emeralds of Zambia and the fiery red rubies of Mozambique paint a vibrant picture of the region’s rich mineral wealth. Zambia’s emeralds, some of the oldest on our planet, owe their mesmerizing green hue to a geological dance that unfolded over 500 million years ago. The intricate interplay of beryllium, chromium, and vanadium during their formation is what bestows these emeralds with their vivid and alluring color. Meanwhile, Mozambique boasts a bountiful treasure trove of… Read More Here

International Gemstones

Gemfields to triple processing capacity at Moz ruby mine

August 11, 2023August 11, 2023 Constance

Gemstone miner Gemfields’ 75%-owned Montepuez Ruby Mining (MRM) subsdiary has entered into a legally binding contract with specialist engineering group Consulmet to build an additional processing plant at MRM’s ruby mine in Mozambique. The addition of the second plant will triple MRM’s processing capacity from the existing 200 t/h to 600 t/h, allowing MRM to process its sizeable stockpile, bring to market additional size and colour variations of rubies and to assess and expand into additional mining areas. The contract is a lump-sum turnkey contract based on industry standard International Federation of Consulting Engineers terms. MRM’s payment obligations are agreed in… Read More Here

Mining in Zambia Gemstones

Kagem reaffirms commitment to its workforce

July 25, 2023July 25, 2023 Constance

Kagem Mining, a world-leading gemstone miner, held last week its long service and Labour Day awards ceremony, reiterating its commitment to fostering a supportive environment for its dedicated workforce.The event, held at the mine site in Lufwanyama, saw distinguished government officials, Kagem board members, and employees come together to honour and celebrate the dedication and diligence of Kagem’s workforce. The ceremony recognized and rewarded 103 exceptional employees for their long-standing service and hard work.The guest of honour, Lufwanyama District Commissioner Justin Mwalikwa, commended Kagem’s significant role in the local community,… Read More Here

Diamond Gemstones Mining in Zambia

Gemfields Achieves Record Revenue in High-Quality Emerald Auction

June 5, 2023June 5, 2023 Constance

Gemfields, a renowned supplier of precious gemstones, has revealed the astounding results of its recent emerald auction, featuring a selection of higher-quality rough emeralds. From 15 May to 1 June 2023, this auction achieved unprecedented success, setting new records and surpassing all expectations. The auction’s most remarkable achievement is the total auction revenues, which reached an all-time high of US$43.7 million. This extraordinary figure stands as a monumental record, representing the highest revenue ever attained in any Kagem emerald auction. Demonstrating the immense demand, all 35 lots offered were sold,… Read More Here

Gemstones

Gemfields resumes Mozambique operations after nearby attack

October 24, 2022October 24, 2022 admin

Precious stone miner Gemfields Group has resumed operations at its mine in Mozambique’s Cabo Delgado province, it said on Monday, after halting production last week when an attack was reported at a nearby facility. An Islamic State-linked insurgency in the northern Cabo Delgado province has claimed thousands of lives since 2017, disrupting multibillion-dollar natural gas and mining projects. Gemfields halted operations and evacuated non-security staff and contractors on Thursday after an attack attributed to insurgents was reported 12 km (7.46 miles) southeast of its Montepuez ruby mine in Cabo Delgado province. “Key… Read More Here

Gemstones International

Gemfields halts Mozambique operations after attack at nearby ruby mine

October 21, 2022October 21, 2022 admin

Precious gem miner Gemfields Group has stopped operations at its Montepuez ruby mine in Mozambique’s Cabo Delgado province after an attack was reported at a nearby facility, it said on Thursday. “This morning, an attack attributed to insurgent activity has been reported at the neighbouring ruby mine belonging to Gemrock, which lies about 12 km south-east of the operations… in which Gemfields holds a 75% interest,” Gemfields said in a statement. Mozambique’s northern Cabo Delgado province has seen an Islamic State-linked insurgency that has claimed thousands of lives since it broke out in 2017, disrupting multibillion-dollar natural gas and mining projects. Gemfields said it… Read More Here