GJ Town India

Until a new CEO is appointed, the board to handle!   Fura Gems Inc. DMCC, a company specializing in colored gemstone mining, has announced that CEO Dev Shetty has resigned to explore new opportunities, said media report. Fura Gems announced that its board of directors will serve as the main decision-making body until a new CEO is appointed. During this period, the current management team will collaborate with the board to handle daily operations. The management team has played a crucial role in Fura’s achievements and is well-equipped to maintain operational stability and uphold the company's high standards. Fura remains dedicated to ensuring a smooth leadership transition, with a continued focus on sustainability, innovation, and delivering value to its partners, customers, and stakeholders.    “The restructuring of our leadership team is a next step in driving forward our strategy, building on the progress made to create a world-class business that meets the evolving ...

Gemfields Sales 72% of the offered carats earns revenues of USD 22.4 million Gemfields announces the results of an auction of higher quality rough emeralds held in Singapore from 14-17 May 2019. The emeralds were extracted by Kagem Mining Ltd in Zambia. The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction. The auction saw 45 companies placing bids and generating total revenues of USD 22.4 million with an overall average value of USD 71.85 per carat, an all ‐ time record for any Gemfields emerald auction. The auction saw 72% of the offered carats being sold (or 80% of the number of lots offered). Gemfields’ 32 auctions of emeralds and beryl mined at Kagem since July 2009 have generated USD 589 million in total revenues. The results of the five most recent higher quality Kagem auctions are summarised in the table an...

With National Geographic a partnership of vital Supporting African communities and conservation Gemfields, the world’s leading supplier of responsibly sourced coloured gemstones, is partnering with National Geographic to lift the veil on vital projects supported by Gemfields in Africa, benefitting both communities and conservation. Gemfields’ gemstone mining operations in both Zambia and Mozambique provide a significant benefit to these African countries, not only through a substantial source of taxation to the national economy, but in additional projects chosen for the difference they make in protecting Africa’s rich biodiversity and promoting sustainable livelihoods for local communities. Gemfields operates the Kagem emerald mine in Lufwanyama in partnership with the Zambian government, which owns 25 percent. The two short films created through the collaboration, follow National Geographic photographer and filmmaker Shannon Wild as she explores the communitie...

Mozambique: Mining Company blames Authorities for allowing illegal ruby trade The concession holder of the mining site where 11 people died recently, in the north of Mozambique, has accused the authorities of inaction and complicity with the illegal trading of rubies. “These tragical casualties were caused by some foreign buyers who manage to do business illegally, in the light of day, in cities like Montepuez, without any inspection or sanction from authorities”, the Montepuez Ruby Mining (MRM) the press release, signed by the manager for Corporate Affairs Raime Raimundo Pachinuapa, stated. The buyers “enter and leave the country, in particular through Pemba International Airport, frequently without the required documents, by bribing officials”. “We need to fight this illegal activity as a country”, Raime Raimundo stressed, calling upon authorities to “enforce the law and stop the illegal trade of rubies”. A non-authorised mining site inside the MRM perimeter colla...