Zambia: Gemfields, Mozambican Firm Partner

Gemfields, the operator of Kagem Mine in Zambia, has entered into a joint venture (JV) with Mozambican company Mwiriti to explore for gold over greenfield licences near the companies' Montepuez Ruby Mining (MRM) JV operation.

The gemstone producer will hold 75 per cent of the new JV and the Mozambique operation the rest.

Under the terms of the JV agreement, Gemfields will contribute its proven exploration and project development experience, together with appropriate financing, with a view to building on the successes achieved in Mozambican rubies.

In addition, Gemfields and Mwiriti's collaboration will bring considerable benefits for both the regional economy and local communities.

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