Gemfields leaps as it names former De Beers CEO as new chair
Ruby and emerald miner Gemfields , which also owns Fabergé, leapt almost 11% on Tuesday when it announced former De Beers CEO Bruce Cleaver as its new chair.
Cleaver, 59, who stepped down at the Anglo American subsidiary in early 2023 after six years at the helm, will take up his new position at Gemfields with effect from 1 July. Gemfields, valued at about R3.7 billion on the JSE, is the operator and 75% owner of both the Kagem emerald mine in Zambia, which is believed to be the world's single largest producing emerald mine, and the Montepuez ruby mine in Mozambique. The latter is one of the most significant recently discovered ruby deposits in the world, the group says.South Africans need to be in the know if we want to create a prosperous future.
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