Tag: energem

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A COMPANY that has just launched itself on the London stock market as a renewable-energy business is the same firm that became embroiled in the “blood diamond” scandals of the 1990s, in which illegally traded diamonds were used to finance civil wars in Africa, The Sunday Times has established.

Energem Resources, with its head office in South Africa and registered office in Canada, used to be known as DiamondWorks. It changed its name in 2004 and gained its London AIM listing last month.

Canaccord Adams, the adviser that piloted it onto London’s Alternative Investment Market (AIM), is headed by Tim Hoare, who sits alongside rock star and champion of Africa Bob Geldof on the board of the television-production company Ten Alps. Hoare has been a board member since March this year.

The hedge fund RAB Capital owns nearly 25% of Energem.