Wednesday, September 24, 2008
Gemfields Resources Plc. announced that it has made an offer for TanzaniteOne Ltd. The offer values the company at almost $59 million. The latter is the world's largest miner of tanzanite. Gemfields stated that TanzaniteOne shareholders could choose cash, Gemfields shares, or a combination of both as payment. Both companies trade on the London Stock Exchange. Gemfields noted that if the offer is approved, it would create the world's leading miner of colored gemstones.
Gemfields holds controlling interests in the Kagem Emerald Mine, Kamakanga Emerald Mine, Mbuva-Chibolele Emerald Mine, and the Kariba Amethyst Mine in Zambia. It recently acquired Oriental Mining s.a.r.l., of Madagascar, which holds 15 licenses that cover rubies, sapphires, emeralds, garnets, and tourmalines.
Recent developments also include the opening of a cutting and polishing facility in Jaipur, India, as well as the granting of a 15-year exclusive worldwide license to use the Faberg? brand name for colored gemstones (excluding diamonds).
Gemfield stated: "This announcement does not amount to a firm intention to make an offer. The proposal is at an early stage and there can be no certainty that any offer will ultimately be made, even if the above pre-conditions are waived."
Source - http://www.israelidiamond.co.il/english/News.aspx?boneID=918&objID=4059
posted by kanth
@ 3:10 AM
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