Gemfields acquires 75 per cent stake in Mozambican ruby mine

AIM-listed mining company Gemfields gas has snapped up a 75 per cent stake in a Mozambican ruby project.

AIM-listed mining company Gemfields gas has snapped up a 75 per cent stake in a Mozambican ruby project.

The company, which has a market capitalisation of £99.59m, entered into a conditional agreement to acquire a controlling interest in an additional ruby deposit located adjacent to the company's Montuepez ruby mine in the Cabo Delgade province of Mozambique.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.