Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
Fura Acquires Three More Ruby Mining Licenses in Mozambique
The miner paid $7.8 million in a purchase and non-competition agreement with GemRock Company Ltd.
Toronto—Fura Gems is set to acquire more ruby mining licenses in the Cabo Delgado province of Mozambique.
The mining company announced Monday it has entered into a purchase and non-competition agreement with GemRock Company Ltd. in which Fura will acquire interests in three licenses/concessions in Cabo Delgado, in which the main ruby mining district of Montepuez sits.
In a $3.8 million cash deal, the company acquired 100 percent participating interests in SRL Mining Limitada, a Mozambican mining company holding both a concession and a ruby exploration license, and a 20 percent participating interest in Ibra Moz SA, another Mozambican mining company holding ruby a mining concession in the area.
It also paid $3.5 million to acquire rights to explore certain areas without competition from GemRock as well as $500,000 as a reimbursement for the latter’s expenses connected with the transactions.
The acquisition will add another 95 square kilometers (a little more than 36 square miles) to Fura’s existing land package in Montepuez.
It said it expects to start bulk sampling at the license areas by March.
Combined with the acquisition of several ruby mining licenses from New Energy Minerals Ltd. (formerly Mustang Resources) in 2018 and the acquisition of another ruby mining license completed last fall, the move is expected to give Fura the ability to explore for secondary alluvial and a primary deposit of rubies in the region.
The company also announced this week it had entered a loan agreement with a private company to borrow $5.5 million. The loan will have an interest rate of 10 percent per year and has a maturity date of July 31, unless the parties mutually agree to an extension.
Fura completed the acquisition of its Australian sapphire mining project in January, rounding out the “big three” in its portfolio as the company also holds emerald mining assets in Colombia.
The Latest
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.