Gemfields Resources, the precious gemstone producer, announced that it has exercised its option to acquire Oriental Mining in Madagascar.
Oriental Mining has the rights to fifteen exploration licences covering emeralds, rubies, sapphires, tourmalines and garnets in the Antananarivo, Fianarantsoa and Toliara provinces of Madagascar, the company said. Oriental Mining also has the right to five exploration licences that are pending approval from the Madagascan Ministry of Energy and Mines.
“Madagascar is recognised as one of the most exciting colour gemstone provinces in the world today, with several key discoveries having been made there during the last decade. Madagascar recently made world headlines after the disputed export of an exceedingly rare 536 kilogram emerald specimen, which was on display at the BaoQu Tang Modern Art Gallery in Hong Kong until the 31st August 2008.” Stated Gemfields CEO, Sean Gilbertson.