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Topic

Pallinghurst shifts focus to gemstones; Frandsen, Willis to manage Sedibelo interest

By: Marleny Arnoldi     20th March 2018 Its decreasing exposure to steelmaking materials, is prompting natural resources investment company Pallinghurst Resources to focus on coloured gemstones and the company plans to change its name to Gemfields Group, pending shareholder approval. 

Mustang closes Mauritius sales office, opens Thailand facility as part of new marketing process

By: Schalk Burger     6th March 2018 ASX-listed Mustang Resources on Tuesday announced that it was changing its ruby sales and marketing approach for rubies sourced from its Montepuez ruby project, in Mozambique. It would close its sales facility in Mauritius, as these were designed for large-scale auctions, which were no longer... 

Alrosa reviews submissions for Mir reopening

By: Simone Liedtke     16th February 2018 Diamond miner Alrosa has opened a contest with a 1.5-million-rouble reward for the best solution to resume underground mining at its Mir deposit, where operations were suspended in August last year owing to a flood that killed eight people. The company said this week that it had received and... 

Gemfields transparent, proactive in rebutting rights allegations

By: Martin Creamer     12th February 2018 Coloured gemstones company Gemfields has been transparently proactive in rebutting claims of human rights abuses in Mozambique, where it mines rubies. "We've voluntarily elected to issue this statement," Gemfields, headed by CEO Sean Gilbertson, commented in a release on Monday about UK-based law... 

De Beers diamond venture puts Namibian mine on sale

By: Reuters     9th February 2018 Namdeb, a 50/50 joint venture between the Namibian government and Anglo American's diamond unit De Beers, has put the Elizabeth Bay Mine on sale, a company spokesperson said on Friday. The sale comes three weeks after the diamond miner wrote to staff offering voluntary redundancies that will... 

On-The-Air (26/01/2018) 

By: Martin Creamer     26th January 2018 A pioneering black industrialist has secured a R50-million non-repayable grant from the government for a nickel plant in North West; The private sector is taking a rare plunge into plant nutrient minerals that could see the creation of a new South African fertiliser champion; Strong calls are... 

Kropz eyeing first ore through phosphates plant this year

By: Martin Creamer     23rd January 2018 Explorer, developer and miner of plant nutrient minerals Kropz, which has invested $120-million in its 95% complete Western Cape processing facility, is finalising plant design and mulling capital raising to take the Elandsfonten phosphates project to the next level, Kropz CEO-designate Ian... 

Ian Harebottle appointed Kropz CEO

By: Anine Kilian     15th January 2018 South Africa-based plant nutrient company and miner of fertiliser feed materials Kropz has appointed Ian Harebottle as group CEO. Harebottle, who stepped down as CEO of Aim-listed Gemfields in July last year, will join Kropz on March 28, once his contract with the diamond miner has ended.   “I am... 

Fura closes in on Colombian emerald mine buy; to create single-stop Dubai-based gemstone shop

By: Henry Lazenby     13th January 2018 Canadian gemstone-focused miner Fura Gems is setting up a single-stop destination in Dubai, where rubies and emeralds produced from its Mozambique and Colombian assets will be graded and sold at the Almas Tower. “The Almas Tower is arguably one of the most secure spaces in the world, from where... 

Pallinghurst targets London, okays share buyback, halves executive pay

By: Martin Creamer     7th December 2017 Diversified mining and marketing company Pallinghurst, which has moved fast to stabilise the now-integrated coloured gemstone acquisition, is initiating a listing on the main board of the London Stock Exchange, going ahead immediately with a share buyback programme and benefitting from executive... 

Richland sees signs of sapphire pricing recovery

By: Mariaan Webb     13th November 2017 Aim-listed Richland Resources’ strategy shift to larger-scale sales events appears to be yielding results, with CEO Bernard Olivier reporting on Monday that the company had started to see signs of prices recovering. Richland, which owns the Capricorn mine in Queensland, achieved total sales... 

Sapphire prices under pressure from Madagascar influx – Richland

By: Mariaan Webb     1st November 2017 An influx of gemstones from Madagascar is putting the price of sapphire under pressure, prompting Australian producer Richland Resources to shift its sales strategy. The London-listed company, which operates the Capricorn mine in Queensland, has transitioned towards larger-scale, more strategic... 

Petra Diamonds warns of possible breach of lending covenants

By: Anine Kilian     9th October 2017 LSE-listed Petra Diamonds on Monday warned shareholders it was likely to breach lending covenants at the end of this year owing to labour disruptions at its South African mines and uncertainty around sales volumes from its Williamson mine, in Tanzania. The company last month said two earnings... 

Tanzania grants Petra authorisation to resume diamond exports, sales

By: Creamer Media Reporter      28th September 2017 The Tanzanian government has granted LSE-listed Petra Diamonds authorisation to resume the export and sales of diamonds from its Williamson mine. The miner and the government will now finalise details of the timing and process for the next diamond parcel to be exported to Petra’s marketing office... 

Mountain Province reports lowest prices yet for Gahcho Kué diamonds

By: Henry Lazenby     19th September 2017 The seventh sale of diamonds produced from Mountain Province Diamonds’ 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, saw the average price of rough stones fall to the lowest level since sales started in January. The September tender included an unusually large proportion of small... 

Petra halts Williamson operations after key personnel questioned over seized diamond consignment

By: Natasha Odendaal     11th September 2017 London-listed Petra Diamonds on Monday said it had temporarily idled the operations of its 75%-owned Williamson mine, in Tanzania, for “health and safety and security reasons”, as key personnel cooperate with authorities over a blocked diamond shipment. The company on Monday confirmed that a... 

Huge opportunity to create more demand for platinum – PGI 

By: Martin Creamer     23rd August 2017 The South African platinum industry has been investing in platinum jewellery for more than 45 years through the Platinum Guild International (PGI), which has turned platinum jewellery into an amazing South African asset. Of all the platinum demand levers, platinum in jewellery is the one that can... 

Pallinghurst closes acceptances for Gemfields buy-out

By: Natasha Odendaal     2nd August 2017 Johannesburg-listed Pallinghurst Resources on Wednesday confirmed the closing of acceptances for its acquisition of coloured gemstones mining and marketing company Gemfields. The diversified mining company will now seek to contact any Gemfields shareholders who have not yet accepted the offer in... 

Gemfields to delist July 28

By: Martin Creamer     27th July 2017 Coloured gemstones mining and marketing company Gemfields is expected to cease trading on the London Aim from 07.00 on Friday, July 28, when it will be delisted. Pallinghurst Resources, which is taking its associate company in-house, said on Thursday that it would begin making an offer to... 

Pallinghurst setting out to revitalise Gemfields as 100% owner

By: Martin Creamer     19th July 2017 Owning 100% of Gemfields will allow diversified mining company Pallinghurst to revitalise the coloured gemstones mining and marketing entity and to unlock synergies, Pallinghurst CEO Arne Frandsen said on Wednesday, when the London Stock Exchange aspirant commenced its compulsory take up of the... 

Pallinghurst seeks London listing following Gemfields acquisition

By: David Oliveira     13th July 2017 Following Pallinghurst’s restructuring and successful acquisition of emerald miner Gemfields, the JSE-listed diversified miner will now commence with the preparatory work to potentially obtain a premium listing on the London Stock Exchange, with Gemfields delisting from London’s Aim stock... 

Explorer seeking partners to support its efforts to tap Mauritania’s mineral wealth

By: Ilan Solomons     7th July 2017 Mauritania has many mining investment opportunities, with economic, social and political conditions conducive to the pursuit of developing a sector considered strategic by the country’s government, says Oil, Energy and Mines Minister Dr Mohamed Abdel Vetah. He points out that the Mauritania... 

Australian miners halt trading on Tanzanian law changes

By: Esmarie Swanepoel     5th July 2017 A slew of Australian mining companies have suspended share trading on the ASX amid legislative changes in the Tanzanian mining sector. The Tanzanian Parliament earlier this week passed two laws allowing the government to force mining companies to renegotiate contracts, with a third Bill... 

Gahcho Kué prices fetch new high at $95/ct

By: Henry Lazenby     28th June 2017 Mountain Province Diamonds has recorded its highest average price to date for diamonds produced at its 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, as it collected $21.1-million at its June tender sale. The company on Tuesday reported that the fifth tender of rough diamonds from... 

Richland appoints sightholders for Australian sapphires

By: Megan van Wyngaardt     27th June 2017 Aim-listed gemstone producer Richland Resources’ Capricorn Sapphire subsidiary has entered into an exclusivity and supply agreement with jewellery manufacturer Royal Touch, which will buy all its heated green sapphires on an exclusive basis for the majority of the size fractions. The sapphires,... 

Pallinghurst secures additional acceptance of Gemfields takeover

By: Natasha Odendaal     19th June 2017 As Johannesburg- and Bermuda-listed Pallinghurst Resources continues its takeover bid of 47%-owned coloured gemstones producer Gemfields, the group has secured acceptances totalling over 61.25% of the existing issued share capital of Gemfields. In addition to Pallinghurst’s own 47.09% stake, or... 

Pallinghurst share price leaps on value unlock outline

By: Martin Creamer     19th May 2017 The share price of mining investment fund Pallinghurst leapt in Johannesburg after the company outlined its plans to swop its investment fund shawl for a diversified miner’s mantle, unlock value through full absorption of its coloured gemstone associate and target a possible listing of the... 

Gemfields achieves ‘mixed’ results in Q3; withdraws from Colombia, Sri Lanka operations

By: Anine Kilian     12th May 2017 Aim-listed Gemfields’ 75%-owned Kagem mine in Zambia produced 4.5-million carats of emerald and beryl during the quarter ended March 31. This was three-million carats less than the same period last year, with Gemfields attributing the lower output to inclement weather during the period. It is... 

Analysts paint sparkling picture of coloured gemstone market

By: Ilan Solomons     28th April 2017 The shift from small-scale artisanal mining to larger mechanised mining, owing to the increasing involvement of larger mining companies and greater formalisation of the sector, is expected to increase the distribution channel of the coloured gemstone industry, which will continue to consolidate... 

Richards Bay plant to make pearly whites from industrial slag

By: African News Agency      11th April 2017 It’s hard to avoid references to a phoenix while thinking about a deal being inked on Tuesday that will turn industrial waste into a pearly white pigment … and put hundreds of people to work. A technology partnership between Johannesburg-based Nyanza Light Metals and Avertana of New Zealand will... 

Zambia mining sector set for growth to 2021

By: Anine Kilian     10th April 2017 Zambia's mining sector will see solid growth between 2017 and 2021 following proposed changes to the country's regulatory environment, says research firm BMI. Favourable global copper prices and rising cobalt demand will attract foreign investment; however, the country will face ongoing... 

Pallinghurst turns $45m profit, upbeat on 2017, mulling options

By: Martin Creamer     29th March 2017 Diversified mining company Pallinghurst, which made $45-million profit in 2016, is upbeat on 2017. The Johannesburg Stock Exchange-listed company spoke of all three of its business platforms being well positioned for further growth and value-unlock. 

Richland ramps up final-stage production ambitions

By: Natasha Odendaal     30th January 2017 Aim-listed Richland Resources has kicked off the final stage of its production ramp-up to bring output at the Capricorn Sapphire mine, in Australia, to 1.2-million carats a quarter by the end of the second quarter of this year. The gemstones producer also has plans to start its beneficiation... 

KP looking to add Mozambique as a member

By: Megan van Wyngaardt     3rd November 2016 Kimberley Process (KP) chairperson Ahmed Bin Sulayem, has met with Mozambique President Filipe Nyusi to discuss the country’s compliance with KP requirements, as well as best practices in rough diamond valuation. Mozambique is not currently a member of the KP, but has been an aspiring candidate... 

Gemfields posts higher FY profits as production shines

By: Natasha Odendaal     26th September 2016 Significant operational progress at Aim-listed Gemfields’ 75%-owned mining assets in Zambia and Mozambique have translated into strong financial output in the year ended June 30. The gemstone miner on Monday posted a profit after tax of $23.5-million for the year under review, up 91% on the... 

Arbitrary licence cancellation a thing of the past as Kenya establishes oversight board

By: John Muchira     26th August 2016 Investors in Kenya’s mining sector will no longer face the risk of arbitrary cancellation of their licences, as the country has established a body to oversee the licensing of prospecting and mining activities and the leasing of mining tenements. Moreover, companies planning to invest in the... 

New funding to boost ruby mining

By: Martin Creamer     4th July 2016 Coloured-gemstone miner and marketer Gemfields announced on Monday that it had finalised four new debt financing facilities totalling $65-million. Gemfields CFO Janet Boyce said Gemfields now had the necessary funding to increase its rough ruby production to 20-million carats a year and rough... 

Richland secures $500 000 loan

By: Creamer Media Reporter      28th June 2016 Aim-listed gemstone producer Richland Resources has entered into a $500 000 unsecured loan facility with two of the company’s directors and a long-term shareholder to satisfy ongoing working capital requirements. The loan facility would provide the company with additional working capital and... 

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