Africa Gem M&A Mining Mozambique Ruby

Fura Gems again extends Mozambique ruby asset merger

Fura Gems Inc, the gemstone mining and marketing group, announced Monday that it has again extended the deadline for its purchase of three ruby assets in Mozambique.

The company said it provided notice to New Energy Minerals Ltd (formerly Mustang Resources), which owns the ruby licenses, that it would push back the so-called ‘drop dead’ date of the Merger of Ruby Assets Agreement from September 30 to October 31 this year.

Fura owns a 76% stake in the Coscuez emerald mine in Boyaca, Colombia.

The company is also involved in the exploration and mining of rubies in Mozambique through its 80% effective interest in four ruby licences (4392, 3868, 3869 and 6811).

Source: Proactive Investors via Club of Mozambique

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