Table of Contents
London-listed emerald and ruby miner Gemfields has suspended work in Mozambique, where two looters were shot dead during a raid in which buildings were set alight.
The company, which owns Fabergé, said more than 200 people linked to illegal ruby mining attacked a village built by the company next to its Montepuez Ruby Mining operation on Christmas Eve.
Two people were shot dead as security forces made up of Mozambican police and military moved to protect the village.
Work suspended at Ruby mine after attack on company village
Gemfields, one of the largest colored gem miners, said the incident occurred as the groups attempted to take advantage of “the prevailing political unrest in Mozambique.”
The country has been gripped by violent protests after an election that opposition parties say was rigged in favor of the ruling Frelimo party.
Gemfields stopped operations on Christmas Eve and relocated some of its staff of more than 500 people. Now they are returning and the company “intends to return to normal operations before the end of the year.”
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
interactive inverter
interactive inverter
Fixed fee investing from £4.99 per month
sax
sax
Get £200 back in trading fees
Trade 212
Trade 212
Free trading and no account commission
Affiliate links: If you purchase a This is Money product you may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.