London-listed URA Holdings has started phased production at the Gravelotte emerald mine (GEM) in South Africa.

Following the successful commissioning of the processing and sorting plants, phased production at GEM started, as scheduled, before the end of April.

Ore processing from the stockpiled material is under way and the first emeralds have been successfully recovered.

Over the coming months, production will be increased and systems, processes and equipment will be optimised.

With production now under way, preparations are being made for first trial sales of emeralds recovered at GEM, early in the second half of this year.

“The initiation of phased production at Gravelotte is a transformative step for URA. This milestone not only underscores our commitment to reviving one of the world’s most historically significant emerald mines, but also highlights our capability in implementing advanced mining technologies and sustainable practices.

“We will update the market on production targets, sales mechanisms and marketing strategies in due course,” says chairperson Ed Nealon.

“We are pleased to have achieved the start of emerald production within a very short period and on a tight budget. With production now under way, we are focused on optimising our equipment, systems and scaling up production over the coming months.

“We would like to thank our shareholders for their ongoing support and look forward to keeping them updated on our progress as we look ahead towards our first test sales and rebuilding market awareness of our emeralds,” says CEO Bernard Olivier.

As URA progresses towards operational status at the GEM, its focus is shifting to generating first sales and revenue, the company informs.

It points out that its financial preparations have been “robust”, ensuring the company is fully funded into this initial production phase.

“This strategic financial planning underscores our commitment to achieving a smooth transition from development to production within the limits of our current working capital,” the company highlights.

URA is now targeting initial sales and then working towards achieving profitability.