April, 17, 2015
An international gem mining and jewellery, Gemfields PLC says that though the new government in Sri Lanka expects to control gemming activities in the island, it would continue its Sapphires exploration activities within the country.
Gemfields PLC is listed with the London Stock Exchange and it has informed of this decision to the stock exchange.
It has said that the company has already begun the basic geological survey to identify the locations in Sri Lanka where Sapphires could be mined.
While Gemfields PLC owns mines in countries like Zambia and Mozambique, it owns 75 per cent operational rights over 16 gemming licenses in Sri Lanka obtained during the latter part of 2014.
However, last month President Maithripala Sirisena announced that he would cancel 16 gemming licenses offered to foreign companies also would not permit mechanized mining to overseas entities.
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