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Gemfields Grou. (GEM) Share News

IN BRIEF: Gemfields says Mozambique plant on budget despite unrest

31st Jan 2025 10:42

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Says the construction of Montepuez Ruby Mining Ltda's second processing plant remains "materially" on budget and on track for completion by the end of the first half of 2025, despite disruptions caused by civil unrest in Mozambique from October 2024 to mid-January 2025. Gemfields owns 75% interest in Mozambique-based Montepuez. Notes that Montepuez has been operating "as usual" since the start of 2025. Read More

Gemfields faces high tax bill after export duty on Zambia emeralds

8th Jan 2025 09:10

(Alliance News) - Gemfields Group Ltd said on Wednesday that Zambia has re-introduced a 15% export duty on emeralds, raising the tax bill for its operations in that Southern African country. Read More

LONDON MARKET MIDDAY: Stocks red ahead of US trade balance read

27th Dec 2024 12:11

(Alliance News) - Stock prices in London were mostly lower at midday on Friday as market participants continue digesting US jobless data and unrest in Mozambique puts miners on edge. Read More

SMALL-CAP WINNERS & LOSERS: Kenmare ups security at Mozambique mine

27th Dec 2024 11:24

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday. Read More

LONDON MARKET OPEN: Lower start after mixed US jobs data

27th Dec 2024 08:58

(Alliance News) - Stock prices in London opened mostly lower on Friday, following a mixed weekly employment report from the US. Read More

LONDON BRIEFING: Stocks seen down as holiday sales stabilise

27th Dec 2024 07:59

(Alliance News) - The FTSE 100 index in London was called slightly lower on Friday, as investors digest holiday-season sales results in the US and UK. Read More

Gemfields expects "normal" operations in Mozambique before year-end

27th Dec 2024 07:47

(Alliance News) - Gemfields Group Ltd on Friday said it expects operations at its Montepuez Ruby Mining Ltda to return to normal before end of this year. Read More

Gemfields warns of potential disruption from unrest in Mozambique

24th Dec 2024 10:38

(Alliance News) - Gemfields Group Ltd on Tuesday warned that its operations may be affected by recent unrest in Mozambique. Read More

AIM WINNERS & LOSERS: Proteome says "strong growth" to continue

23rd Dec 2024 10:52

(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday. Read More

AIM WINNERS & LOSERS: Proteome says "strong growth" to continue

23rd Dec 2024 10:51

(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday. Read More

Gemfields suspends emerald mining and shelves capex to cut costs

23rd Dec 2024 09:53

(Alliance News) - Gemfields Group Ltd reported on Monday it is suspending mining its the emerald mine in Zambia, shelving planned capital expenditure at its ruby development assets in northern Mozambique, and deciding to sell its gold project. Read More

IN BRIEF: Gemfields issues Mozambique warning after positive ruby sale

12th Dec 2024 08:41

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates revenue of USD46.2 million at a mixed-quality rough ruby auction held between November 25 and Wednesday this week. This was down by about one-third from revenue of USD69.5 million reported around the same period in 2023. At a ruby auction in June 2024, USD68.7 million was recorded. Rubies were extracted by its 75%-held Montepuez Ruby Mining Ltda in Mozambique. Read More

IN BRIEF: Gemfields emerald auction "disappointing" amid competition

22nd Nov 2024 07:48

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates emerald revenue of USD16.1 million at the second auction in 2024 that took place between November 4 and 21. For May 13 to 30, it recorded revenue of USD35.0 million. In an auction in May and June 2023, revenue was USD43.7 million. At the November 2024 auction, the average price of USD113.96 per carat. Read More

Gemfields warns of potential "setbacks" as interim profit plunges

27th Sep 2024 07:59

(Alliance News) - Gemfields Group Ltd warned on Friday it is ready to take further measures amid uncertainty after its interim profit slumped by around one third, owing to weak demand for gemstones. Read More

Gemfields warns of 25% dip in interim earnings on lower revenue

25th Sep 2024 07:55

(Alliance News) - Gemfields Group Ltd expects interim earnings to slump by a quarter, but maintains that the demand for rough emeralds and rubies remains "healthy". Read More

UK earnings, trading statements calendar - next 7 days

20th Sep 2024 13:54

IN BRIEF: Gemfields emerald revenue down more than expected after sale

16th Sep 2024 08:22

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates revenues of USD10.8 million after emerald auction held during August and September, down 58% from USD25.5 million in the same period last year. In March, emerald revenue was USD17.1 million. Average price was USD4.47 per carat at the latest auction. The rough emeralds sold were extracted by Kagem emerald mine in Zambia, which is 75% owned by Gemfields and 25% by the Industrial Development Corp of Zambia. Read More

IN BRIEF: Gemfields rakes in strong revenue at ruby auction this month

5th Sep 2024 08:40

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates USD2.3 million in revenue, up 53% from USD1.5 million at an auction of rubies extracted by its 75%-held Montepuez Ruby Mining Ltda in Mozambique. The sale took place from Monday to Wednesday. All of the 5.7 million carats offered in 10 lots were sold, Gemfields says, at an average sales price of 41 US cents per carat. Read More

IN BRIEF: Gemfields interim auction revenue down 17% to USD121 million

26th Jul 2024 08:16

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Reports a 17% decline in auction revenue to USD121 million for the first six months of 2024 from USD145 million a year earlier. These unaudited figures have been produced on a monthly basis for Gemfields' 75%-owned Kagem emerald mine in Zambia, 75%-held Montepuez Ruby Mining Ltda in Mozambique and luxury brand Faberge. At June 30, the group's cash and cash equivalents were USD22.3 million, with USD66.7 million of outstanding debt, resulting in a net debt position of USD44.4 million. Read More

IN BRIEF: Gemfields ruby revenue down amid headwinds after auction

19th Jun 2024 08:31

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates USD68.7 million in revenue from auction of rubies from the Montepuez ruby mine in Mozambique. The ruby auction took place from June 3 to Tuesday this week. At the ruby auction held between November 20 and December 5, 2023, revenue was USD69.5 million. At around the same time in June last year, auction revenue amounted to USD80.4 million. Average realised price was USD316.95 per carat this month, up from USD290.02 per carat in December 2023. Read More

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