Gemfields plans to acquire some colour gemstone mines in India

Gemstone mining and marketing major Gemfields is considering initiating color gemstone mining in India, in the locations of Odisha, Jharkhand, and exploring Kashmir sapphire mines in Jammu & Kashmir, reports say.

Inspired by the new Indian government’s pro-business and mining initiatives and plans, the company is awaiting the mining policies to finally shape up, for it to approach the state governments to acquire colour gemstone mining leases, and determine its investments and potential of mining the gemstones in India, reports add.

It believes the new approach by the Modi government towards mining and the reallocation of coal and iron ore mines would pave the way for the country’s mining sector, reports add. It is intending to replicate a similar approach as with its acquisition of the ruby mine in Mozambique and auction of the respective rubies which in turn addressed some costs of acquisition, exploration, operation, reports add.