[miningmx.com] – GEMFIELDS, the UK-listed precious gems miner, said jewellery retailers had expressed an interest in buying an equity stake in the business following its takeover last month of Faberge, said Bloomberg News citing Ian Harebottle, CEO of Gemfields.
“I’m talking industry champions, national champions and significant global institutions who suddenly realise this is fantastic,’ Harebottle told Bloomberg News.
However, Harebottle said Gemfields was under no pressure to sell shares as there was no need for cash given some $36.7m it had in the bank.
“It would have to add strategic value to the continued growth of the business,’ for Gemfields to consider selling an equity stake, he told Bloomberg News. “The company isn’t in any talks regarding that,” Harebottle said.
Gemfields, which mines emeralds in the southern African nation, plans to double its production of the green gems to 4 million carats over the next five years, said Bloomberg News citing Harebottle.
It wants to use Faberge to promote colored gems and increase demand for the stones it mines, growing their market share in the jewelry industry, the newswire said.
A shareholder meeting on the takeover of Faberge is scheduled for January 7.
