WHAT WE DO

  • Mining
  • Marketing

At FURA, we believe in the power of transformation

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.

  • Colombia Emerald Assets
  • Mozambique Ruby Assets
  • Australia Mining Assets

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).

FURA's Colombia Emerald Licenses

The Coscuez Emerald Mine (122-95M)

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.

FURA's Colombian Emerald Highlights

Emerald Licenses 122 – 95M (the “Coscuez Emerald Mine”)
Location Boyacá Department, Colombia
Ownership FURA – 76%, Local Partners – 24%
Area 46 hectares
Geology Primary calcite veins
Asset Type Operating mine
Mining Methods Underground mine

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.

FURA's Mozambique Ruby Licenses

FURA's Mozambique Ruby Assets

Ruby Licenses 5572L, 8955C, 8921C & 7414L 4392L, 3868L (9903C) & 3869L 5030L
Location "Montepuez & Chiure Districts, Cabo Delgado Province, Mozambique" "Montepuez & Meluco Districts, Cabo Delgado Province, Mozambique" "Montepuez Districts, Cabo Delgado Province, Mozambique"
Ownership FURA – 100% FURA – 80%

Local Partners – 20%
FURA – 70%

Local Partners – 30%
Area 218.42 sq.km 323.08 sq.km 141.31 sq.km
Geology Primary and Secondary Mineralisation Primary and Secondary Mineralisation Primary and Secondary Mineralisation
Asset Type Mining & Exploration Licenses Exploration licenses Exploration license

Fura hold 100% in three (3) ruby licenses (5572L, 8921C, 8955C), holds an 80% effective interest in the three (3) ruby licenses, (4392L, 3868L and 3869L) and 70% in one (1) licence (5030L) in the Montepuez District of Cabo Delgado Province in Mozambique. The assets are strategically located in the Montepuez District and are comprised of 682.82 sq.km (68282.57 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.

Geology

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.

The Australian sapphire sector is an old industry, and Sapphire was discovered in Australia during the 1850s gold rushes. Though the long history of sapphire mining and commercial production spans at least the past half-century, Australian Sapphire has not received the recognition it warrants from either the global gem and jewelry industry or the consumer market.

In Australia, Sapphire is found in several east coast localities, from north Queensland to north-east Tasmania. One of the largest and most economic deposits are found in Central Queensland, around Anakie and Rubyvale. “Anakie-Sapphire Fields” in Queensland, between Sapphire Township and Rubyvale, lies the best-kept secrets of Australian Sapphires.

The sapphire mining boom at Anakie Sapphire Fields began in the early 1970s with the introduction of mechanized operations which faded later in two decades, with changes in the supply chain and increased mining costs. But it also has a strong tourism and fossicking (hobbyist mining) scene with awareness and acknowledgement across the consumer space and both small scale, artisanal, touristic and amateur workspace co-exist

Fura Sapphire Licenses – Summary

Entity Name Permit No. Area in Sq Km Valid till Permit type Permit status Environmental Authority Land Rights/ Compensation
Great Northern Mining 73 Mining Licenses 15.29 29/11/2021 (5-years renewal) Mining Leases Granted Granted Agreement with Farmer
Capricorn Sapphire 3 Mining Licenses 4.94 30/03/2024 Mining Lease Granted Granted Agreement with Farmer
ML-400012 5.60 11/11/2020 Mining Lease Application approved EPVL00520113 merged with Capricorn mining license conditions Not yet in place
2 EPM Licenses 110.00 11/11/2020 Exploration Granted

Gemstone Sapphire appears commonly light to dark blue and parti-coloured (blue and green or blue and yellow) green, yellow, orange, colourless
Geology The sapphire deposits are mainly associated with Tertiary and Quaternary alluvial placers derived through erosion of Tertiary alkali volcanic rocks, mostly basaltic lavas, pyroclastics and volcanoclastic
Location Anakie Sapphire Fields in Central Highlands, Queensland (Between Sapphire Township and Rubyvale)
Ownership FURA – 100%
Mining Licenses Area 1,529 Ha or 15.29 sq.km for Great Northern Mining and 494 Ha or 4.94 Sq Km for Capricorn Sapphires
Exploration Licenses Area 11,000 Ha or 110 sq.km for Capricorn Sapphires
Asset Type Mining & Exploration Licenses

Australian operation is the next logical step for Fura to acquire assets in the mature geological and political geographies. With its well-established mining tenement coupled with mature explored terrain along with significant geological database available online, Australia makes a perfect fit for venturing into this gemstone and immediately instituting the "ethical route to mine" strategy.

So Australia is the perfect location for our first foray sapphire mining, and sets up a responsible route to market Both Mine has a proven resource and ongoing operations, with assets and experienced team on the ground plus significant access to the gemstone market and customer base. We will be well-supported in this venture and benefit from a hugely experienced team for mining, processing and sorting.

In a short span,Fura has acquired with 100% interest of two operating assets of Capricorn Sapphireand Great Northern Mining. Post-acquisition, Fura has started and progressed work on a detailed geological evaluation to assess the resources and working towards matching scale-up of production. More importantly, Fura will be working on the marketing strategy for the Australian Sapphire and look to launch the product in early 2021. At present, Great Northern Miningand Capricorn Sapphire combined are the largest sapphire supplier coming from Australia.

The combined business entityes, post-transaction, will have complete access to mining and exploration equipment, which also includes washing plant and other ancillary equipment.Great Northern Mining Pty Ltd with the well prospected 73 sapphire mining licenses along with three mining license of Capricorn Sapphire, provides perfect opportunity to scale up.

All the licenses acquired from Great Northern Mining are a block of contiguous licences of 15.2 sq km, and shares a common boundary in the East with Fura's existing Capricorn sapphire mining license of 4.9 sq km. Both companies have been operating and producing in this area for a long time and part of similar sapphire rich gravels in identical geological settings.

These licenses are in the Central Queensland of Australia, which is approximately 850 kilometres north-west of Brisbane. It is closer to Emerald, a small township servicing the Coal/Sapphire mining industry, having multiple daily direct flight connections to Brisbane.

The geological and mining data for Great Northern Mining and Capricorn Sapphire are compiled and worked through robust geological modelling to outline the resources. Resource outlined will be taken through mine design and mine scheduling workflow for production ramp-up and pit sequencing. The district-scale data is also being reviewed for growth after exploration

Sapphires are found in all colours. The Anakie Sapphire deposit and Fura mine area are known for its variety of colours including blue, yellow, green and multi-colour gems known as 'parti-colour' sapphires that show combinations of different colours. This makes their sorting more complex and the colour range wider, nonetheless provides an exciting array of colours to offer to the customers.

The "Pride of Queensland" is the largest cut yellow Sapphire at 169 carats and a large Blue Black Sapphire known as the 'Black Star of Queensland' was recently offered for sale. Another finest multi-coloured sapphire crystalTomahawk Tiger (82.4cts), was also found in this area.

Local Geology

The sapphire deposits are mainly associated with Tertiary and Quaternary alluvial placers derived through erosion of; Tertiary alkali volcanic rocks,,which are mostly basaltic lavas, pyroclastics and volcaniclastics of the Eastern Australian Cainozoic Igneous Province. The Hoy Basalt (a Tertiary basalt province of plugs and restricted flow remnants) is considered to be the source of the Sapphire and zircon. Gem bearing felsic parental rocks, which were crystallized around the crust-mantle boundary brought Sapphires and zircons to the surface by pyroclastic eruptions, particularly during the Early to Middle Eocene.

Alluvial reworking of these volcaniclastic deposits has concentrated the Sapphire into very high grades. Gravel geometry indicates the possibility of meandering paleochannels and the reworking of paleochannels or terraces by younger drainage systems to concentrate the heavy minerals, also (including sapphires,) within redeposited alluvium ("wash runs").

Sapphire appears commonly light to dark blue and parti-coloured (blue and green or blue and yellow) green, yellow, orange, colourless, black and rarely purple.

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.