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Gemstone miner Gemfields returns to London's AIM

Gemstone miner Gemfields Group Ltd. returned to London Stock Exchange's AIM trading, according to a Feb. 14 release.

Gemfields delisted from the AIM in July 2017 following its acquisition by Pallinghurst Resources Ltd. The company has its primarily listing in Johannesburg.

Gemfields said the AIM listing seeks to provide investors with more expedient entry into the precious colored gemstone market, improve the company's share trading liquidity and widen its current investor base.

Ahead of the listing, Brian Gilbertson resigned as Gemfields chairman and director in November 2019 to promote good governance. Gilbertson's son, Sean, remained as CEO.

Meanwhile, investment research and consulting firm Edison Group on Feb. 17 boosted its sum-of-the-parts valuation of Gemfields to US$522 million from US$449 million.

The change was made after Zambia dropped its plan to impose a 15% export duty on emeralds and valuation adjustments made to Gemfields units Montepuez Ruby Mining in Mozambique and Kagem Mining Ltd. in Zambia.