{"id":1165765,"date":"2020-02-14T11:35:29","date_gmt":"2020-02-14T17:35:29","guid":{"rendered":"https:\/\/www.mining.com\/?p=1014000"},"modified":"2020-02-14T11:35:29","modified_gmt":"2020-02-14T17:35:29","slug":"gemfields-trades-again-in-london-after-almost-three-years","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1165765","title":{"rendered":"Gemfields trades again in London after almost three years"},"content":{"rendered":"<p>Precious gemstones miner&nbsp;Gemfields has <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.gemfieldsgroup.com\/first-day-of-dealings-on-aim\/\" >returned to trading on the AIM<\/a>, the London Stock Exchange\u2019s market for juniors, after <a href=\"https:\/\/www.mining.com\/gemfields-shares-collapse-imminent-delisting\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">delisting in 2017<\/a> following its acquisition by Pallinghurst Resources.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The company, which mines emeralds and rubies in Zambia and<br \/>\nMozambique, is trading under the symbol GEM, the same it had before taken private.<\/p>\n<p>\u201cWe were delighted to have played our part in one of the first admissions to Aim this year and a rare listing of a mining company in what remains a challenging market for the mining and metals sector,\u201d the company said.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Gemfields, which owns the luxury Faberg\u00e9 jewellery brand, is the world\u2019s biggest coloured gems producer.<\/p>\n<\/blockquote>\n<\/figure>\n<p>Gemfields, which owns the luxury Faberg\u00e9 jewellery brand, is<br \/>\nthe world\u2019s biggest coloured gems producer. Kagem mine in Zambia provides more<br \/>\nthan one-fifth of the world&#8217;s emeralds, while the company\u2019s 75%-owned Montepuez<br \/>\noperation in Mozambique accounts for half of the global supply of rubies.<\/p>\n<p>News of the listing came a day after <a href=\"https:\/\/gemfields.s3.amazonaws.com\/News%20and%20Announcements\/2020\/February\/20200213%20GGL%20SENS%20release%20re%20artisanal%20miner%20incursion%20at%20MRM%20(for%20release).pdf\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">11 illegal miners&nbsp;died<\/a> at Montepuez following a series of tunnel collapses over three days.<\/p>\n<p>About 800 people had trespassed in previous days and,<br \/>\ndespite mine staff\u2019s warnings, began undercutting the outer edge of the Maninge<br \/>\nNice 3 mining pit, which led to several ground collapse incidents.<\/p>\n<p>The pit, which generally contains smaller, flatter, pink-coloured rubies of lower value, accounts for less than 10% of the total ruby value sold by Gemfields-controlled Montepuez Ruby Mining Limitada. <\/p>\n<p>Last year, the miner chose to <a href=\"https:\/\/www.mining.com\/gemfields-pay-7-8m-settle-claim-human-rights-abuses-mozambique\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">pay \u00a35.8 million (about $7.6m) to community members<\/a> residing near the Mozambican mine, in&nbsp;a \u201cno admission of liability\u201d&nbsp;move&nbsp;that settled a claim of human rights abuses brought against it by locals. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;ll use the GEM symbol GEM, the same it had before taken private by Pallinghurst Resources.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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