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Gemfields
Gemfields Emerald Auction Achieves $19M
Gemfields sold $18.6 million worth of emeralds at its Lusaka, Zambia auction in August, as the miner noted signs of recovery in the Indian market. “We are pleased that the…recovery in the emerald sectorfirst observed at our May…auction...
Mining Aug 26, 2019 Rapaport News
Gemfields
Gemfields Exits Amethysts, Adds Gold
Gemfields has sold its 50% stake in a Zambian amethyst mine to enable it to focus on its core assets, it said Wednesday. The sale of the Kariba Minerals deposit to ZCCM InvestmentsHoldings for $2.5 million will allow Gemfields...
Mining Jun 27, 2019 Rapaport News
Gemfields
Gemfields Sees Record Emerald Auction
Gemfields’ May emerald sale fetched $22.4 million, as the miner noted an improvement in the market. The Singapore sale’s top lot, purchased by Chatree Gems ofThailand, set a price-per-carat record for Zambian rough emeralds at aGemfields...
Mining May 22, 2019 Rapaport News
CIBJO
Groups Join Forces on Responsible Sourcing
The World Jewellery Confederation (CIBJO) and the ColouredGemstones Working Group (CGWG) will collaborate to help companies in theindustry implement responsible sourcing for gemstones such as rubies, emeraldsand sapphires.The groups will develop management tools...
Gemstones May 22, 2019 Rapaport News
Gemfields rubies 150
Gemfields Investigates Slavery at Ruby Deposit
Gemfields has discovered illegal miners working formodern-slavery syndicates at its Montepuez ruby mine in Mozambique, after noticing a rise in the number of deaths caused by illegal-pit collapses at the site. The miners, some of whom are juveniles,...
Mining May 05, 2019 Rapaport News
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 Kagem Mine
Zambian Tax Authority Clears Gemfields
The Zambian Revenue Authority (ZRA) has cleared Gemfields' subsidiary Kagem Mining of all tax-evasion allegations following an investigation at itsemerald mine earlier this year. The ZRA has advised Kagem that all matters under...
Mining Dec 24, 2018 Rapaport News
Lion Emerald
Gemfields Auctions Off 5,655ct. Emerald
Gemfields has sold a 5,655-carat emerald to Indian gemstonespecialist Dia-Color for an undisclosed amount, the miner said Tuesday. Gemfields extracted the Inkalamu, or Lion Emerald, at itsKagem mine in Zambia last month. It was one of 26 lots it offered...
Mining Nov 20, 2018 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
InternationalGemologicalInstitute_Lab
China’s Fosun Buys 80% of IGI
Chinese corporate giant Fosun has agreed to buy an 80%stake in the International Gemological Institute (IGI), the grading laboratorysaid Wednesday. “The interest of this large conglomerate to invest in IGIshows the confidence it has in our industry,” said...
Financial-Legal Sep 13, 2018 Rapaport News
Gemfields
Zambian Tax Authority Raids Gemfields Mine
The Zambian Revenue Authority (ZRA) launched aninvestigation into alleged tax evasion at the Kagem emerald mine, owned by Gemfields. In an unannounced visit to the mine last week, ZRA servedtwo search warrants on Kagem Mining and...
Mining Aug 19, 2018 Rapaport News
Gemfields 150
Looters Ransack Gemfields’ Ethiopia Operation
Gemfields Group has suffered further unrest at itsemerald-exploration operation in Ethiopia, with looters vandalizing the siteand stealing gemstones, the miner said Wednesday. The perpetrators gained access to the sorting house onTuesday and broke...
Mining Aug 02, 2018 Rapaport News
Gemfields
Mob Invades Gemfields Site in Ethiopia
A mob of 300 to 500 people overran Gemfields Group’semerald-exploration operations in Ethiopia on Friday, forcing staff members toflee. Employees, contractors and service providers at Web GemstoneMining (WGM) were safely evacuated to a town a two-hour drive away, the...
Mining Jul 03, 2018 Rapaport News
Gemfields 150
Pallinghurst Rebrands as Gemfields Group
Pallinghurst Resources has changed its name to GemfieldsGroup as it turns its primary focus to colored gemstones. The group’s shareholders overwhelmingly voted in favor ofthe change at its annual general meeting Tuesday. It will use the new...
Mining Jun 27, 2018 Rapaport News
Rubies 150
Gemfields Sells $72M at Record Auction
Gemfields recorded record revenue of $71.8 million at its June ruby auction in Singapore, thecolored-gemstone supplier said Monday. The miner sold588,656 carats of rough, untreated rubies from the Montepuez mine in Mozambique, at an average price of $122...
Polished Markets Jun 12, 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
Winners of Gem Awards Named 600
2018 GEM Award Winners Chosen
Jewelers of America picked the winners of its 16th annual GEM Awards, held on Friday in New York. Irene Neuwirth of Irene Neuwirth Jewelry won in the jewelry-design category for her modern style using raw, unmanufactured...
Polished Markets Jan 22, 2018 Rapaport News
Gemfields 150 121417
Gemfields Owner Reduces Staff, Salaries
Colored-gemstone producer Gemfields is taking measures to reduce debt and revive profit growth, following its acquisition by Pallinghurst Resources earlier this year. Gemfields’ debt grew almost fivefold to about $84 million between2014 and July...
Gemstones Dec 14, 2017 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
Gemfields rough emerald 140
Gemfields Moves Sales Division to London
Gemfields is closing its New York marketing operation andmoving it to London as part of restructuring efforts, the colored-gemstoneminer has said.As a result, industry veteran Sally Morrison — Gemfields’ directorof sales and marketing for the Americas — is leaving...
Gemstones Sep 05, 2017 Joshua Freedman
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