URA Holdings PLC (LSE:URAH) CEO Bernard Olivier discusses the company's progress in an interview with Proactive's Stephen Gunnion.
The LSE-listed company has been revitalising its Gravelotte Emerald Mine in South Africa's Limpopo province, achieving operational status in April. The mine, previously the world's largest emerald source, has adopted new technologies such as optical sorters to enhance stone recovery and reduce theft, a significant improvement over past manual processes.
Olivier highlighted his and the management team's extensive experience in the coloured gemstone industry, noting their previous success with TanzaniteOne, which was once the world's largest tanzanite producer. He said many of TanzaniteOne's key management have joined URA Holdings, bringing valuable expertise to the Emerald Mine project.
Currently, the mine has a JORC-compliant resource estimate of 29 million carats, indicating a potential mine life of 10-12 years, with exploration targets suggesting up to 300 million carats available. This substantial resource base has facilitated the upgrade and refurbishment of mining infrastructure and processes.
The first auction of emeralds is planned for the latter half of the year, and URA Holdings aims to keep stakeholders updated via regular communications, including social media updates on platforms like X (Twitter).