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As we build on our geological knowledgebase and experienced leadership, we are bringing new opportunities to both investors and mining communities. Each project is carefully planned and expertly executed to bring exquisite gemstones to market. Our mining and marketing strategy will create sustainable partnerships between stakeholders that respect the environment, the people, and our product.
Coveted by royalty around the world, emeralds were adored by Queen Cleopatra and feature in the collections of the royal houses of Norway, Sweden, Denmark, Luxembourg, and Great Britain. The Incans worshipped emeralds, and Aristotle believed one worn around the neck prevented sickness. These ancient gemstones also symbolise fertility, devotion, intelligence, and honesty. Colombia is home to some of the finest emeralds in the world, which are hidden deep within the country’s mountains and dense jungles.
Colombia is the source of the world’s finest emeralds and accounts for the 50% of the value supplied in the market. The Colombian emerald deposits are located in Boyacá Department and are found in the Eastern Ranges of the Colombian Andes within two narrow bands on the west side (western zone: Muzo, Cunas, and Coscuez deposits) and on the east side (eastern zone: Chivor and Gachalá deposits).
The Coscuez Mine is historically one of the world’s most significant emerald mines, having been in operation for over 400 years and has produced some of Colombia’s finest emeralds. Its world-wide recognition stems from the production of renowned pieces like 1,759 carats Guinness Emeralds, believed the one of the largest gem-quality crystal or the pieces found in the Spanish crown, as well as collections from India and the Ottoman Empire, and which continue to be discovered in diverse archaeological findings such as the San Jose galleon.
In Colombia, most of the emeralds mined come from the Muzo formation and the Coscuez Mine in the San Pablo de Borbur Municipality, is sitting right over Muzo formation and has grown to become one of the top three producers of emeralds in Colombia.
On 30th October 2017, FURA has agreed to purchase 76% of the issued and outstanding shares of Esmeracol S.A. which owns 100% interest in the 122-95M (The Coscuez Emerald Mine).The 122-95M covers an area of 46 hectares and includes exclusive rights for the exploration, construction and mining of emerald deposits granted by the Government of the Republic of Colombia.
The current operation at 122-95M, has reached the orebody through a significant number of horizontal accesses of different dimensions, which total more than 40 km of measured tunnels. Within the orebody, vertical shafts have been developed to delineate the extraction blocks for the operation, complemented by established and controlled watering and ventilation system.
Fura, as a short-term plan, will immediately focus on improving the mine’s infrastructure, developing safe and effective operations, including the construction of a 1/7 gradient, positive and negative ramp system, complemented by horizontal tunnel construction to optimise access to the orebody, which will allow modernising the extractive process and converting the mine into a safer operation. This ramp will optimize the transport of product through LHD trucks, as well as the flow of clean air for ventilation. Fura will set-up a communication platform to engage directly with the local community. Fura believes that it will ramp up the emeralds production within six (6) months of completion of the Transaction.
Contemporaneously with the short-term plan, Fura will also work with the respective government authorities for the necessary approvals for the technical plans such as design of the new decline, entrance of the tunnel, washing plant, waste dump design and other necessary areas.
|Emerald Licenses||122 – 95M (the “Coscuez Emerald Mine”)||ECH -121|
|Location||Boyacá Department, Colombia||Boyacá Department, Colombia|
|Ownership||FURA – 76%, Local Partners – 24%||FURA – 100%|
|Area||46 hectares||646 hectares|
|Geology||Primary calcite veins||Primary calcite veins|
|Asset Type||Operating mine||Exploration license|
|Mining Methods||Underground mine||Underground mine|
FURA has acquired a 100% interest in a Colombian emerald exploration concession, ECH 121 (“License”). The License covers 649 hectares and has been granted for 30 years, ending July 4, 2034 with the possibility of a 30-year extension. Geological maps published by Ingeominas (the Colombian governmental geological survey bureau) indicate that within the limits of the Concession there are sedimentary units, mostly of the Cretaceous Age, overlying older basement rocks.
The tectonics play a paramount role in the formation and location of emeralds in the area. Previous geologists identified a NNE-SSW main system represented by the Minero and other main rivers in the area and several E-W secondary systems perpendicular to the main system. The interaction of these two systems created several tectonic zones (ternary systems) to which the emerald zones appear to be related. The tectonic system appears to be responsible not only for the circulation of hydrothermal fluids but also for the tectonic traps with favorable porosity where the emeralds finally formed.
For centuries, rubies have been revered as the king of gemstones with the power to restore youth and vitality. Mentioned in the Bible and in ancient Sanskrit writings, rubies also symbolise love, passion, and power. Until recently, most of the world’s rubies came from Burma. But now, Mozambique has emerged as the new home of exquisite rubies sourced from deposits over 475 million years older than those found in Burma.
Historically, Mozambican rubies have been found in the northeast of the Montepuez District of Cabo Delgado Province. The nearest airport is in Pemba, which is also the Province’s capital. The traditional ruby mining area is a 200km drive from Pemba and into Montepuez. According to the Gemological Institute of America (GIA), Mozambican rubies currently account for approximately 50% of the world’s ruby production. Deposits are also considered to be the largest found in recent decades.
|Ruby Licenses||4392L, 3868L, 3869L ,6811L||9307C, 7083L, 6106, 8188L, 6064L, 7251L, 5030L, 8955C, 8921C|
|Location||Montepuez District, Cabo Delgado Province, Mozambique||Montepuez & Chiure Districts Cabo Delgado Province, Mozambique|
|Acquisition Date||19 October 2017||16 July 2018|
|Ownership||FURA – 80%
Local Partners – 20%
|FURA – 65% to 80%
Local Partners – 20% to 35%
|Area||394.24 sq.km||711 sq.km|
|Geology||Primary and Secondary Mineralisation||Primary and Secondary Mineralisation|
|Asset Type||Exploration licenses||Exploration licenses|
|Mining Methods||Open pit||Open pit|
Fura holds an 80% effective interest in the four (4) ruby licenses, (4392L, 3868L, 3869L and 6811L) in the Montepuez District of Cabo Delgado Province in Mozambique with the remaining 20% interest, non-dilutive and free carry, being held by the respective local partners. The assets are strategically located in the Montepuez District and are comprised of 394.24 sq.km (39,424.51 hectares in five concessions) of highly prospective ground. The initial findings from the existing artisanal pits show both primary and secondary mineralisation with higher and lower quality rubies.
FURA has entered into an agreement to acquire the controlling ownership in various entities that together own nine mineral exploration licenses (license numbers 9307C, 7083L, 6106, 8188L, 6064L, 7251L, 5030L, 8955C and 8921C) in Mozambique. Upon closing of the Acquisition, Fura will hold effective interests in the Assets of between 65% and 80% with the remaining interests, non-dilutive and free carried, being held by the respective local partners. The assets are strategically located in the Montepuez & Chiure Districts and covers approximately 711 sq.km (in the newly acquired 9 licenses) of highly prospective ground .On completion of the Acquisition, Fura will become the largest ruby group by licence area (circa 1105 sq. km) in the country.
Northeast Mozambique is located at a geologically critical junction between the north-south trending Mozambique Belt and the east-west trending Zambezi Belt. Both are “treasure-bearing” Neoproterozoic (approximately 500–800 million years old) orogenic belts within the global Pan-African tectonic framework. Several major geologic complexes are separated by major thrusts and shear zones. Complex thermal and deformational events provided ideal temperature and pressure for the formation of ruby, garnet, gold and other minerals of economic importance.
The Montepuez ruby mineralisation belt is located within the wedge-shaped Montepuez Complex. Around the Montepuez Belt, ruby formation seems to have resulted from a metasomatic process, when fluid from the parental magma interacted with the host rocks in a low-silica environment These formed the primary ruby mineralisation.
Once the ruby-bearing rock is weakened and broken down by physical and chemical weathering, it is ready for erosion. In Montepuez, rubies and other minerals liberated from the parent rocks were dispersed by water. Due to their high specific gravity and hardness, these rubies were trapped and concentrated in certain locations along current and former river beds, above the weathered basement rocks. These clusters are the secondary deposits.
We at FURA believe that quality competitive marketing is a key factor for long term success. As the global gemstone market navigates several major transformations, our innovative marketing will help educate, inspire, and motivate consumers to explore how gemstones can be valuable investments. The FURA marketing programme will use four unique pillars: advertising (both consumer and trade), PR, sponsorship, and collaboration. By using different channels and methods, we'll reach wider and more diverse target audiences than ever before.
And because our products are truly a miracle of nature, their unique beauty will resonate with consumers across all marketing platforms.