(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
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
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
(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
(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
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
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
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
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
(Alliance News) - Gemfields Group Ltd announced on Tuesday that former De Beers boss Bruce Cleaver will become its new chair from next month. Read More
Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Reports that a maiden mineral resource estimate infers "noteworthy" gold deposits of 103,000 ounces at its Nairoto gold project in Cabo Delgado, northern Mozambique. Inferred mineral resource estimated at 1.58 million tonnes of mineralised rock, with a gold grade of 2.02 gram per tonne. The mineral resource estimate is for Target Area 5, or TL5, and the analysis was conducted by SRK Exploration Ltd. The project is housed within Nairoto Resources Ltda, which is 75% owned by Gemfields. Read More
Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates USD35.0 million in revenue from an emerald auction that took place over May 13 to May 30, compared to USD43.7 million at an auction in May to June 2023. Says 46 lots were offered for sale at the latest auction, of which 43 were sold, and the average price was USD167.51 per carat. 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
(Alliance News) - Gemfields Group Ltd reported on Monday it had slashed its dividend after profit dived due to a write-down on its platinum group metals investment and the withdrawal of emerald auction. Read More
(Alliance News) - Gemfields Group Ltd warned on Friday it expects to swing to an annual loss after a platinum group metals write-down and the withdrawal of emerald auction. Read More
Gemfields Group Ltd - London-headquartered gemstones producer - Posts a 23% drop in auction revenue to USD242 million in 2023 from USD316 million in 2022, an all-time record high. In an operational update, the company says the 2023 top-line growth was the second highest on record, despite withdrawn of its scheduled emerald auction for November. It scrapped the emerald auction for November due to lower quality and quantity of emerald production. Read More