CAPITAL MARKETS

Aberdeen ups stake in Fura Gems

Coscuez purchase completed this week

Staff reporter
Fura has the Coscuez project as well as a ruby holding in Mozambique

Fura has the Coscuez project as well as a ruby holding in Mozambique

Aberdeen put US$1 million into Fura as part of a wider private placement this month, bringing up its ownership by 1.6 million shares, to 16.9% overall.

Fura said it would use the $4.5 million raised in the first tranche, which closed last week, in part to pay for the Gemfields project Coscuez.

A second tranche will close at the end of the month.

Gemfields' former COO Dev Shetty announced his new company would take over the Coscuez asset in October, and the sale closed this week with $2.5 million changing hands as part of a total $10.2 million price spread over some years.

Fura now owns 76% of the historic project.

The region is home to thousands of artisanal miners and Coscuez is already being mined on a "small-scale" basis, Fura said.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.