Fura Gems begins production at Colombian mine

By Dale Benton
A Canadian gemstone mining company, with exploration and mining licences in in Colombia, has officially commenced production at its flagship emerald min...

A Canadian gemstone mining company, with exploration and mining licences in in Colombia, has officially commenced production at its flagship emerald mine.

Fura Gems Inc has commenced a bulk sampling program at its Coscuez emerald project, located in Boyaca, Colombia.

Initial sampling has seen a total of 1,720 carats of emeralds mined to date.

Dev Shetty, President & CEO of Fura, commented:

“Fura has achieved an important milestone by commencing the bulk sampling mining operation at the Coscuez emerald mine within eight weeks of the completing the acquisition of the mine.”

“The initial production of 1,720 carats of emeralds, including 826 carats of top quality emeralds, during the early stage of the program further confirms the quality of the Coscuez emerald mine. We will continue to build our geological knowledge of the license area and also strive to modernize the Coscuez emerald mine. Fura has now become the first publicly listed company in the world to commence a bulk sampling operation in Colombia, the world’s largest supplier of emeralds.”

The Bulk Sampling Program was initiated the second week of February 2018 and Fura plans to mine a total of 30,000 tons of material as a part of this program.  The program will be completed in two phases and will continue until December 31, 2018.
 

Related stories:

De Beers Group expands into Europe with German diamond licensee partner

Stellar Diamonds to be acquired by Newfield Resources to fund Tongo-Tonguma diamond project

Lucara Diamonds acquires Clara Diamonds to implement blockchain technology into diamond supply chain

 

 

Production comes after a strong year for Fura Gems, as the company continues its expansion and growth strategy.

In January 2017, the company appointed Dev Shetty as its President & CEO before appointing a strong management team.

Soon after, the company raised $3 million via private placement and a further $4 million as it listed on the Toronto Stock Exchange (TSV).

The company only recently acquired the Colombian emerald assets, including Coscuez and its Mozambique Ruby licences.

Fura looks to tap into an emerging market, as Colombia accounts for 50% of the value supplied in the emerald market and Mozambique has emerged as the new home for exquisite rubies sourced from deposits over 450 million years.

 

Share

Featured Articles

Geothermal Engineering - UK’s first zero-carbon lithium

Geothermal Engineering Limited will produce enough zero-carbon lithium to supply around 250,000 electric car batteries per annum

ABB and Bridon-Bekaert Ropes collaborate on mine hoists

The two leading OEM companies join forces to develop an integrated service portfolio for ABB mine hoists as ABB seeks to expand its service portfolio

'Patriot awarded Discovery of the Year' at Xplor

Patriot Battery Metals announces that it is the recipient of the 2023 "Discovery of the Year" award from the Quebec Mineral Exploration Association (QMEA)

MML champions Sierra Leone Diaspora Investment Conference

Operations

Safety awards for Ramaco

Operations

NMG partners with Pomerleau

Operations