Gemfields adds Sapphires from Sri Lanka to Coloured Gemstone Portfolio

Gemfields is pleased to announce that it has entered into a joint venture with East West Gem Investments Limited (‘EWGI’), a Jersey registered company, in order to progress opportunities in the Sri Lankan sapphire and gemstone sector via three Sri Lankan subsidiaries which will be 75% and 25% held by Gemfields and EWGI respectively.

Under the terms of the agreements, Gemfields has acquired 75% operating interests in sixteen exploration licences (covering diverse minerals) for a consideration of USD 0.4 million. The Sri Lankan joint venture seeks to deploy Gemfields’ proven exploration and gemstone experience with a view to replicating the successes achieved in Zambia and Mozambique, where Gemfields’ approach has brought considerable benefits for both the local population and the regional economy. More

First Texas-Israel Diamond Show Sparks Great Interest

Both Diamantaires and Jewelers Keen to Explore Direct B2B Opportunities

The first Texas-Israel Diamond Show, taking place later this month in San Antonio, promises to be an exciting event for both sides. The show, sponsored by the Texas Jewelers Association (TJA) and the Israel Diamond Institute (IDI), is an unprecedented opportunity for Israeli diamond exporters and Texas jewelers to meet face to face and to do business.

The show is being held on September 29 and 30, in conjunction with the TJA 2014 Convention. Organizers say that by combining “the best of two worlds” they are attracting a large and enthusiastic crowd. This is the first time that jewelers in Texas and surrounding states are being offered diamonds directly from the source. The Texas-Israel Diamond event will showcase 28 leading diamond companies from Israel, More

Tanzanite Foundation Re-focussed

Over the past 9 months Richland has been engaged in an on-going review of operations across all areas of the group. The Company is positioning itself to bring on new gemstone production lines, such as sapphire, and create a more flexible body to engage in tanzanite sales.

While the Tanzanite Foundation has historically acted as a global body to promote the tanzanite gemstone itself, rather than gems solely mined by Richland’s subsidiary company, TanzaniteOne Mining Limited (“TML”), currently the Company has been the primary contributor to the costs of its subsidiary. Effective from 1 September 2014, the Tanzanite Foundation will undergo structural and operational changes to better align with global tanzanite markets and the expectations of the sightholders who buy the gems mined by TML. CSR projects in Tanzania remain unaffected and continue to be maintained by TML. More