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Gemfields gears up for growth

Coloured gemstone producer Gemfields has secured US$65 million of debt facilities from several banks, adding to the existing revolving credit agreement it has in place for its flagship Kagem emerald mine in Zambia.

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The company produces rubies at Montpuez in Mozambique

Of the total amount, $45 million is for the company's 75% owned Montepuez ruby mining operation in Mozambique.