28-06-2019
Gemfields has sold its stake in a Zambian amethyst mine to focus on the big three, while venturing into gold exploration, said in the statements on Wednesday.
The leading gemstone supplier has sold its 50 percent stake in Kariba Minerals Ltd, the Zambian amethyst mine, to ZCCM Investments Holdings for US$2.5 million. “Gemfields’ decision to dispose of its stake in Kariba was driven by the company’s strategy of focusing on emeralds, rubies and sapphires,” it said.
Besides, the London-based company has established a joint venture with Mwiriti Limitada, an existing partner in Montepuez Ruby Mining (MRM), to explore gold in Mozambique, 20 kilometers from the MRM site.
Gemfields’ CEO Sean Gilbertson said: “We have enjoyed a sound and successful partnership with Mwiriti at the Montepuez ruby mine and we look forward to furthering our joint understanding of these new licences. While the opportunities are early stage, secondary gold mineralisation has been observed and recovered in small quantities from several areas within the licence portfolio and these will therefore constitute our key focus in the year ahead.” (Photo courtesy: Gemfields)
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