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Gemfields Exits Amethysts, Adds Gold
Jun 27, 2019 8:34 AM
By Rapaport News
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RAPAPORT... Gemfields has sold its 50% stake in a Zambian amethyst mine to enable it to focus on its core assets, it said Wednesday.
The sale of the Kariba Minerals deposit to ZCCM Investments
Holdings for $2.5 million will allow Gemfields to concentrate on its emerald,
ruby and sapphire operations, it explained.
Meanwhile, the miner has also established a joint venture
with Mwiriti, its partner in the Montepuez Ruby Mining operation, for gold
exploration in Mozambique, 20 kilometers from the ruby site.
“Gemfields remains a company
focused on emeralds, rubies and sapphires mined in Africa. However, given their
proximity, the relative ease of mobilization, our long-standing relationship
with Mwiriti, and the mineralization observed onsite to date, we feel it is
important to fully investigate the possible upside potential of these [gold] licenses,” Gemfields CEO Sean Gilbertson said.
Image: Amethysts from the Kariba Minerals mine. (Gemfields)
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Tags:
Gemfields, Kariba Minerals, Montepuez Ruby Mining, Mwiriti, Rapaport News, Sean Gilbertson, Zambian amethyst mine
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