Shares of Gemfields fell hard on the JSE after it told investors of an invasion of its exploration tenement in Ethiopia and the theft of emeralds from a safe, as well as the ransacking and looting of its site, with police powerless to help. It is the second incident in the space of a month. Gemfields, which operates emerald and ruby mines in Zambia and Mozambique, respectively, said there was an invasion of its exploration site in Ethiopia on Tuesday, with a safe kept inside a shipping container broken open and the gems inside stolen. "Gemfields has also been advised that the site has seen a significant influx of firearm-bearing illegal miners and handlers," the company said. Its shares fell in thin trade by 8% to R2.30, giving the company a market capitalisation of R3.3bn. Gemfields did not give a value of the gems taken from its 75%-owned Web Gemstone Mining, which is the company working in southern Ethiopia exploring for gems, including emeralds and sapphires. Gemfields told the ...

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