23rd Feb 2026 07:49
Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - Generates revenue of USD53 million at an auction of rough rubies held this month. This is the first auction to include material from Montepuez Ruby Mining Ltda's second processing plant. Gemfields owns 75% Montepuez Ruby Mining in Mozambique. The last ruby sale was held in June 2025, when Gemfields earned USD31.7 million in revenue, down from USD68.7 million in June 2024. In December 2024, revenue was USD46.2 million. The December 2025 auction was deferred.
"This auction, deferred from December 2025 to February 2026, was well attended and comprised a good selection of rubies covering a wide spectrum of sizes and qualities from our Mozambique ruby mine," says Adrian Banks, managing director of product & sales. "It was particularly pleasing to see that the more fluorescent material from our newer mining areas was well received. Fine-quality rubies continued to perform strongly and demonstrated robust pricing," Banks adds.
Current stock price in Johannesburg: ZAR1.15
12-month change: down 20%
Stock price in London: 5.20 pence
12-month change: down 13%
By Artwell Dlamini, Alliance News senior reporter South Africa
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