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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... 

Richland hikes Capricorn’s resources

By: Natasha Odendaal     22nd June 2016 Aim-listed Richland Resources on Wednesday posted an updated measured and inferred mineral resource of 115.5-million carats of sapphire and corundum at the Capricorn sapphire mine, in Queensland, Australia. The updated Joint Ore Reserves Committee- (Jorc-) compliant resource estimate comprised a... 

Diamond market back in sync in 18 to 24 months – Bristow 

By: Martin Creamer     30th March 2016 A combination of clean-out and restructuring of the mid-market occupied by cutters and polishers, and the commendable supply constraint exercised by major producers, will combine to put the global diamond market back in sync in the next 18 to 24 months, diamond consultant Dr John Bristow... 

Stellar raises £600 000, auctions $300 000 in diamonds

By: Natasha Odendaal     15th March 2016 Aim-listed Stellar Diamonds has conditionally raised some £600 000 to support various development initiatives at its Sierra Leone and Guinea operations and for general working capital. The West Africa-focused diamond development company placed 4.4-million new ordinary shares at 10p apiece, while... 

DMCC Executive Chairman Ahmed Bin Sulayem receives honorary membership during visit to World Jewelry Hub

     9th February 2016 Ahmed Bin Sulayem, Executive Chairman, DMCC, has been presented with Honorary Membership of the World Jewelry Hub its Chairman Eli Izhakoff in Panama City this week. Ahmed Bin Sulayem, also the Chairman of the Kimberley Process, visited Panama as a guest of the WJH. During the visit, he was... 

Gemfields achieves record sales price for lower-quality emeralds

By: Megan van Wyngaardt     23rd November 2015 Twenty-nine companies placed bids in Aim-listed Gemfields’ second auction of production from its 75%-owned Kagem mine, in Zambia, in the current financial year, with 4.45-million carats of the 5.07-million carats of lower-quality emerald on offer sold, generating $19.2-million. The auction, held... 

Gemfields reports higher FY earnings, output

By: Megan van Wyngaardt     7th October 2015 Aim-listed Gemfields’ earnings before interest, taxes, depreciation, amortisation and impairments improved to $64.4-million in the year ended June 30. Revenue increased to $171.4-million, but the company’s after-tax profit fell by $4-million to $12.3-million. 

Investment firm upbeat about Gemfields' outlook

By: Natasha Odendaal     5th October 2015 While gemstone miner Gemfields holds an attractive, unique investment case, short-term headwinds in the luxury goods market could hold back share price performance, SP Angel said on Monday. In an initiation note, the investment firm explained that, with the successful execution of an expanded... 

Gemfields delivers maiden mineral resource, ore reserve estimates for Kagem

By: Sashnee Moodley     23rd September 2015 Coloured gemstones miner Gemfields has produced the first measured mineral resource and proven ore reserve statement for its 75%-owned Kagem emerald mine, in Zambia. The company on Wednesday said a Competent Persons Report (CPR), produced by consulting firm SRK Consulting, had shown a Joint Ore... 

Pallinghurst ekes out $3m profit in tough six months

By: Martin Creamer     14th September 2015 Diversified mining company Pallinghurst on Monday reported a net half-year profit of $3-million in tough market conditions. Pallinghurst CE Arne Frandsen commented in a Johannesburg Stock Exchange News Service announcement that the profit highlighted the merit of holding three separate investment... 

Gemfields targets prospects in Colombia

By: Megan van Wyngaardt     10th September 2015 Aim-listed coloured gemstones miner Gemfields has entered into binding agreements to acquire controlling interests in two emerald projects in the Boyacá state, in Colombia.   It was seeking to a acquire a 70% interest in a Colombian company that would eventually hold a mining contract over the... 

Gemfields raises $35.14m in Singapore emerald, amethyst auction

By: Natalie Greve     7th September 2015 Zambia-focused precious stones miner Gemfields has garnered revenues of $35.14-million from its most recent auction of predominantly rough emeralds extracted by subsidiary Kagem Mining, as well as the sale of amethyst mined by 50%-owned Kariba Minerals. Held in Singapore from August 31 to... 

Gemfields lifts FY output

By: Megan van Wyngaardt     12th August 2015 Aim-listed Gemfields’ 75%-owned Kagem emerald mine, in Zambia, delivered 8.1-million carats of emerald and beryl in the quarter ended June 30, lifting output for the full 2015 financial year to 30.1-million carats of emerald and beryl. This was comparable with the 6.2-million carats of emeral and... 

Premier African Minerals expands exploration to Benin

By: Megan van Wyngaardt     14th July 2015 Aim-listed Premier African Minerals has been awarded new exploration tenements in central Benin, after it concluded a convention with the West African country’s Ministry of Mines. Obligations under the convention would see Premier spend a minimum of $125 000 in the first year. 

Gemfields auction yields $29.3m, helps conservation

By: Megan van Wyngaardt     22nd June 2015 Coloured gemstones miner Gemfields earned $29.3-million from the sale of rubies mined at its Montepuez deposit, in Mozambique. The Aim-listed company’s fourth auction of rough rubies from Montepuez, saw 46 companies placing bids, with the auction realising an average price of $617/ct. 

Richland delays first sapphire sale from Aus mine

By: Creamer Media Reporter      22nd June 2015 Aim-listed Richland Resources will delay the first sale of sapphire from its Capricorn sapphire mine, in Australia, to the third quarter. This was owing to reduced production, as a result of an intermittent electrical fault that had restricted processing recoveries in the first month of... 

Deferred consideration for Richland’s Tanzanian assets finalised

By: Natasha Odendaal     12th June 2015 Aim-listed Richland Resources has signed a settlement agreement with Sky Associates, finalising the sale of Richland’s Tanzanian assets. The gemstone producer and developer announced on Friday that Sky would not be liable for the final deferred consideration of $510 000 expected on June 8 to... 

Gemfields finds two rare rubies at Mozambique mine

By: Megan van Wyngaardt     9th June 2015 Coloured gemstones miner Gemfields has recovered an “exceptionally rare” pair of matching rubies at its Montepuez mine, in Mozambique. With a combined weight of 45 ct, the two rough rubies would be one of the highlights at the company’s ruby auction in Singapore next week. This find followed the... 

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