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Gemfields
Gemfields Saw $60M Loss in 2018
Gemfields slid into the red in 2018 due to the impact of a new tax regime and a costly legal case, it said Monday.The company reported a loss of $60.4 million for the year, compared with a profit of $45.1...
Mining Mar 26, 2019 Rapaport News
Gemfields
Gemfields Unearths 5,655ct. Emerald
Gemfields has recovered a 5,655-carat emerald at itsKagem mine in Zambia, it said Monday. “The discovery of this exceptional gemstone is such animportant moment both for us and for the emerald world in general,” said ElenaBasaglia, a gemologist at Gemfields...
Mining Oct 31, 2018 Rapaport News
Gemfields
Nirav Modi Crisis Hits Gemfields
Proceeds slumped at Gemfields’ May auction ofhigher-quality rough emeralds as the Nirav Modi fraud case hurt Indian demand,the miner reported last week. Most of the company’s emerald clients are based in India,where the gemstone...
Gemstones May 27, 2018 Rapaport News
Gemfields rubies
Ruby Demand Robust at Gemfields Sale
Gemfields sold $55 million worth of rough rubies inSingapore last week, the highest revenue figure the company has achieved forany auction to date. “The strong revenues from this auction…underscore the factthat market...
Gemstones Nov 16, 2017 Rapaport News
Sean Gilberton Pallinghurst
Gemfields Names Post-Takeover CEO
Gemfields’ new owner, Pallinghurst Resources, has appointedSean Gilbertson as CEO of the colored-gemstone producer following the resignationof the miner’s senior executives.Gilbertson (pictured), an executive director of Pallinghurst, is alongstanding member of Gemfields’ board and was closely...
Gemstones Aug 07, 2017 Rapaport News
Gemfields rough emerald 140
Pallinghurst to Delist Gemfields by End of July
Private-equity firmPallinghurst Resources plans to delist colored-gemstone miner Gemfields from London’s Alternative Investment Market (AIM) by the end of July after nearly 90% of Gemfieldsshareholders accepted its takeover offer.Pallinghurst saidit intends to exercise its rights...
Gemstones Jul 16, 2017 Rapaport News
ruby
Gemfields Sets $55M Auction Record
Gemfields recorded its highest auction total as it sold$54.8 million worth of rubies and corundum in Singapore last week.The sale fetched an average of $61 per carat for895,848 carats, out of just over 1 million carats that were...
Gemstones Jun 19, 2017 Rapaport News
Gemfields emeralds
Gemfields Faces Buyout from Main Investor
Gemfields’ largest shareholder has made an offer to acquire the53% of the gemstone miner it does not already own, in a bid to restructure thecompany and make it more profitable.Pallinghurst Resources, a mining-focused private equityfirm, has offered Gemfields investors...
Mining May 21, 2017 Rapaport News
faberge
Fabergé Shows ‘Encouraging’ Growth
Fabergé, the famed jewelry brand owned by Gemfields, recorded a 63% jump in unitsales during the third fiscal quarter, as the miner expanded its marketing efforts for the luxury business division.The number of actual sales...
Retail May 16, 2017 Rapaport News
Rough emerald
Gemfields Sales Dented by India Liquidity Slump
Gemfields’ half-year revenue plummeted 46 percent as thecompany deferred an auction of higher-quality rough emeralds due to tighterliquidity in India.Sales fell to $51 million in the fiscal first half thatended December 31, 2016, the colored-gemstone miner said last...
Gemstones Feb 26, 2017 Rapaport News
faberge
Gemfields Emerald Production Slumps
Gemfields said production of emerald and beryl dropped 43percent in the final three months of last year as the company mined alower-grade zone of its Kagem deposit in Zambia.Output fell to 4.7 million carats in the second quarter...
Mining Feb 14, 2017 Rapaport News
Gemfields rubies
Gemfields Sees Robust Demand at Ruby Auction
Gemfields sold $30.4 million worth of rubies and corundum atan auction in Singapore last week as prices indicated a healthy market for gemstones.The company sold 1.1 million carats, out of a total 1.4 million carats offered...
Gemstones Dec 22, 2016 Rapaport News
Rough emerald
India Cash Crunch Stalls Gemfields Auction
Gemfields has pushed back a sale of higher-qualityemeralds by two months to enable Indian buyers to adapt to the government’s decisionto invalidate higher-value currency notes. The auction of stones from the Kagem mine in Zambia will nowtake place...
Gemstones Dec 04, 2016 Rapaport News
Gemfields emeralds
Gemfields Boosted by Rising Emerald Demand
Gemfields’ revenue and profit surged in the past fiscalyear, driven by record prices and successful marketing campaigns to raisedemand for the colored gemstones.Sales jumped 13 percent to $193.1 million and profit aftertax soared 90 percent to $23.5...
Gemstones Sep 26, 2016 Rapaport News
ruby
Gemfields Ramps Up Ruby Output
Gemfields’ rough ruby and corundum production exceededthe company’s guidance in the past fiscal year as output from its Montepuezmine in Mozambique jumped 23 percent.Production of 10.3 million carats in the 12 months toJune 30 was above the miner’s...
Gemstones Aug 01, 2016 Rapaport News
ruby
Gemfields Closes Loan Deal to Hike Ruby Output
Gemfields has secured $65 million of debt financing whichwill be used to ramp up ruby production and for general expenses. The facilities provide Gemfields the necessary funding tocarry out expansion plans at the Montepuez mine...
Mining Jul 05, 2016 Rapaport News
Gemfields emeralds
Gemfields’ Lower-Quality Emeralds Hit New Price Record
Gemfields announced a new record average price for itslower-quality gemstones sold at an auction of rough emeralds in India lastweek.The miner said it sold 2.78 million carats of gems extractedfrom its Kagem mine in Zambia for $14.3 million,...
Gemstones May 23, 2016 Rapaport News
Buyers at Gemfields Auction
Gemfields’ 1H Revenue -9%, Profit Slumps 65%
Gemfields reportedrevenue dropped 9.1 percent year on year to $94 million in the first half thatended December 31. Profit after tax dived 65 percent to $8.2 million.Emerald and beryl production from the Kagem mine in Zambiasurged...
Gemstones Feb 22, 2016 Rapaport News
Emerald rough
Gemfields Production of Emerald +3%, Ruby Flat in 3Q
Gemfields' production fell 3.1 percent year on year to 6.3 million carats of emerald and beryl in the third quarter that ended on September 30. Meanwhile, production of ruby and corundum was flat at 2.9 million carats....
Gemstones Nov 14, 2014 Jeff Miller
Mila Kunis
Gemfields' 3Q Kagem Production -45%
Gemfields reported that emerald and beryl production at its Kagem mine in Zambia dropped 45 percent year on year to 3.6 million carats during the third quarter that ended on March 31, with the decline in output...
Gemstones May 04, 2014 Deena Taylor
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