A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Fura Completes Acquisition of Mozambican Ruby Licenses
The gemstone miner purchased Cobadale Ltd, which owns an 80 percent interest in four ruby licenses in Montepuez, Mozambique.
Toronto--Fura Gems Inc. has completed its acquisition of Cobadale Ltd, which owns an 80 percent interest in four ruby licenses in Mozambique.
As such, Fura now holds an 80 percent interest in the mining licenses, with the remaining 20 percent interest held by the respective local partners.
The licenses, located in the Montepuez area in the Cabo Delgado province in Mozambique, are comprised of more than 39,000 hectares (more than 96,000 acres) of highly prospective ground.
According to Fura, the initial finding from the pits shows the occurrence of both primary and secondary mineralization consisting of both higher and lower quality rubies.
Fura started a drilling program on Oct. 5, targeting the prospective mineralized zones of three of the licenses. So far, 1,879 meters (more than 6,000 feet) of contract auger drilling has been completed.
The mining company said early signs are “very encouraging” and that it expects to announce drilling results on or before Jan. 15.
“Fura has achieved an important milestone with the completion of the ruby transaction,” Fura President and CEO Dev Shetty said. “These ruby licenses are in the same region and geological environment as one of the world’s largest ruby deposits, and we are excited about the potential of these assets and their impact on the company and its shareholders. Now that we’ve completed this important step, Fura will continue to focus on exploration of the licensed areas.”
Fura Gems, which used to be known as Fura Emeralds, also announced at the end of October that it had entered into an agreement to take ownership of the Coscuez emerald mine in Colombia.
It bought a majority stake in Esmeracol, which owns the mining license for Cosuez, in a deal expected to close in mid-December. While the mine has been operated largely on a small-scale basis up to now, Fura said it aims to modernize the site and ramp up production of emeralds within six months of the deal closing.
The Latest
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.