Posts tagged as: montepuez

Mozambique: Australian Mining Firm Exceeds Ruby Auction Target

London — The Australian mining company Mustang Resources on Tuesday announced that it has gathered more rubies than expected from its mine in Montepuez, in the northern Mozambican province of Cabo Delgado.

In a press release, the company revealed that an increase in production has led to its inventory increasing to 277,852 carats of rubies. Mustang stated that it is set to comfortably exceed 300,000 carats by the time of its maiden auction, which will take place over four days from 27 October in Mauritius.

The company had planned to accumulate 200,000 carats of the precious gems. However, record production at its mine and strong results its artisanal miner development programme (where the company buys gems from local miners) has surpassed expectations.

According to the company’s managing director, Christiaan Jordaan, “we have exceeded our most optimistic inventory targets and all the feedback we are getting points to strong demand for rubies among global customers”.

Mustang’s Montepuez Ruby Project consists of four licenses covering 19,300 hectares directly adjacent to the world’s largest ruby deposit which is mined by Montepuez Ruby Mining Ltd.

The price of Mustang’s shares on the Australian Stock Exchange increased by ten per cent after the announcement.

Mozambique

Maputo Ferry Workers On Strike

Workers of the state company Transmaritima, which operates the ferry service across the bay of Maputo, from the centre… Read more »

Deportation of Nearly 200 Tanzanians Living in Mozambique

Photo: The Citiian League Champions St. George Thrashes Cote D’Or in a CAF Thrillerzen

Deportees narrate ordeal in Mozambique.

opinion

Last week’s deportation of nearly 200 Tanzanians living in Mozambique in what was described as “crackdown on illegal

immigrants”, has been received with a large measure of concern in this country. And, that, we aver, isn’t because of the repatriation in itself, but, going by the accounts of the affected, it is due to the way the exercise was executed. Narratives from some expellees indicate that those assigned to implement the exercise did it with inexplicable crudity.

The expulsion of foreigners was mainly conducted in Montepuez, the second largest city in Cabo Delgado Province. We have been reassured that the Mozambican authorities were targeting, not only Tanzanians, but all illegal immigrants.

Tanzania’s Foreign ministry reaffirmed it was doing its best to ensure the safety of Tanzanians in Mozambique, whose numbers are estimated at 3,000 in Montepuez alone. Indeed, there it is comforting that there hasn’t been verified reports of vicious attacks, but it is a fact that some of our deported compatriots have lost properties in the process.

Tanzania and Mozambique have close, historical ties starting from the latter’s days of liberation struggle. Not only did

Mozambican freedom fighters train in Tanzanian bases, but numerous Tanzanians actually fought along Samora Machel’s troops right inside Mozambique in the effort to root out Portuguese colonialists.

It must be such recollection that our people–both Tanzanians and Mozambicans–take each other’s countries for granted. Some of the expellees could even have reacted with shock upon being told they needed passports, residence permits and work permits to toil to earn a living and contribute to the economy of a “brotherly” country.

Immigration laws have to be respected. The boundaries between sovereign countries cannot be ignored. However, it is our view that when it comes to evicting unregistered non-citizens, so long as they aren’t confirmed criminals or terrorism suspects, their repatriation should be as humane as possible.

More on This

Mozambique Expels 200 Tanzanians

Mozambique has thrown out about 200 Tanzanians, who are alleged to have been living in the country illegally. Read more »

Mozambique: Singapore Ruby Auction Raises $30 Million

London — The London-based company Gemfields on Monday announced that an auction in Singapore of rough rubies from its mine in the northern Mozambican district of Montepuez has raised 30.4 million US dollars.

Gemfields holds 75 per cent of the shares in Montepuez Ruby Mining Ltd. The other 25 per cent are owned by the Mozambican company Mwiriti.

The company has held seven auctions of Montepuez rubies since June 2014. These have generated a total of 225.7 million dollars. Its chief executive, Ian Harebottle, commented “we are very pleased with the results of Gemfields’ seventh Montepuez ruby auction despite some of our customers being unable to attend while they adjust to the regional demonetisation policy changes they’ve experienced over the past few weeks” (this refers to controversial decision of the Indian government to remove from circulation larger denomination banknotes).

According to Gemfields, all the proceeds from the latest auction will be repatriated to Mozambique, with royalties and taxes being paid to the government.

Gemfields promotes itself as the world’s leading supplier of “responsibly extracted coloured gems”. It has specialised in Zambian emeralds and amethysts but has branched out into Mozambican rubies.

Gemfields’ share price on the London Stock Exchange rose by three per cent following the announcement of the auction results.

Mozambique

Trial of Man Who Maimed Josina Machel Postponed

The man who mutilated Josina Machel, the daughter of Mozambique’s first President Samora Machel, and of former education… Read more »

Mozambique: Mozambican Rubies to Be Auctioned in Singapore in June

Maputo — Mozambican rubies are to be auctioned in Singapore in June by the British company Gemfields.

According to a statement by Gemfields, the stones to be sold are predominantly of mixed quality rough ruby from the Montepuez deposit in Mozambique.

The stones were mined in the northern province of Cabo Delgado by Montepuez Ruby Mining Limited, which is 75 per cent owned by Gemfields.

Gemfields describes itself as the world’s largest producer of coloured gemstones. It has specialised in Zambian emeralds and amethysts but has branched out into Mozambican rubies.

In its first sale of these rubies, Gemfields raised 33.5 million US dollars. In its latest sale, in December 2015, the company presented both higher and medium quality rough ruby and corundum in untreated and treated forms. This auction raised 28.8 million dollars.

A spokesperson for the company told AIM that Gemfields has held five Mozambican ruby and corundum auctions in Singapore, which have raised a total of 150.8 million dollars.

Last week Gemfields held an auction of mainly lower quality emerald from its concession in Zambia. The auction in Jaipur, India, raised 14.3 million dollars.

Mozambique

Prominent Political Analyst Shot and Maimed

Unidentified assailants on Monday morning shot and seriously injured a prominent Mozambican academic and political… Read more »

Mozambique: Metals of Africa Raises Funds for Graphite Project

The Australian company Metals of Africa will raise US$2.9 million through a share placement to fund the development of its Montepuez and Balama Central graphite projects in the northern Mozambican province of Cabo Delgado.

In a statement, the company said that the shares were priced at a fifteen per cent discount from a ten-day weighted average share price and that the placement has been oversubscribed. In addition, the company will offer all eligible shareholders the chance to buy up to $370,000 worth of shares at the same price.

The funds will be used for a feasibility study, bulk sample, and metallurgical test work, and as general working capital.

Metals of Africa also stated that two companies involved in drilling and design services have agreed to accept half of their fees in shares.

The Montepuez project contains an estimated 6.3 million tonnes of graphite and 163,000 tonnes of vanadium oxide. In addition, the Balama project holds an estimated 1.7 million tonnes of graphite and 34,000 tonnes of vanadium oxide.

Graphite is a highly valued form of carbon due to its properties as a conductor of electricity. It is used in batteries and fuel cells and is the basis for the “miracle material” graphene, which is the strongest material ever measured, with vast potential for use in the electronics industries.

Mozambique

Assembly Will Quiz Government On Debt

Within the next few days, the Mozambican government must answer questions from the working commissions of the country’s… Read more »

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