Magnum Mining & Exploration Limited (ASX:MGU)

Francesco Cannavo
Market Cap (AUD): 61.66M
Sector: Materials
Last Trade (AUD): 0.15 +0.01 (+3.45%)
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1. About

Magnum Mining and Exploration Limited (ASX:MGU) is an Australia-based company engaged in mineral exploration.

The Company's geographic segments include Australia, Namibia and South Africa. Magnum’s 74% owned Gravelotte Project is located in the Limpopo province of South Africa. Emeralds were discovered in the province in 1927 and since then several companies have explored for and mined the region for emeralds.

From 1929 to 1982 the total recorded emerald production from the Gravelotte Project surrounding area was nearly 113 million carats.  It is reported that during the 1960’s the Gravelotte Project itself was the largest mine of its type in the world.

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