8th May 2025 10:44
Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - Kagem Mining Ltd, the Zambian emerald mine in which it owns a 75% interest, will shortly resume open-pit mining to recover premium emeralds. This comes after Gemfields in December last year suspended all mining from January 1 to focus on processing ore from Kagem's ore stockpile, utilising the upgraded processing plant. Says emerald production from the processing plant in 2025 so far has been in line with its expectations.
Gemfields notes that Kagem's recent auction has increased its confidence in the current emerald market. But cautions that the decision to recommence full-scale mining will continue to be assessed as market conditions develop.
Current stock price in Johannesburg: ZAR1.02, down 2.9% on Thursday morning
12-month change: down 66%
Current stock price in London: 4.30 pence, up 1.2%
12-month change: down 63%
By Artwell Dlamini, Alliance News reporter
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