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Gemfields Halts Mining and Sales
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Gemfields has closed the majority of its business amid the coronavirus pandemic, and is unsure when it will hold its next tender.“The turmoil stemming from COVID-19 [will have] a significant impact on [our] operations, revenues...
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Mining
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Mar 31, 2020
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Rapaport News
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Ruby Demand Robust at Gemfields Sale
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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...
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Gemstones
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Nov 16, 2017
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Rapaport News
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Gemfields Names Post-Takeover CEO
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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...
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Gemstones
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Aug 07, 2017
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Rapaport News
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Pallinghurst to Delist Gemfields by End of July
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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...
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Gemstones
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Jul 16, 2017
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Rapaport News
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Gemfields Sets $55M Auction Record
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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...
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Gemstones
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Jun 19, 2017
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Rapaport News
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Fabergé Shows ‘Encouraging’ Growth
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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...
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Retail
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May 16, 2017
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Rapaport News
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Gemfields Emerald Production Slumps
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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...
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Mining
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Feb 14, 2017
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Rapaport News
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Gemfields Sees Robust Demand at Ruby Auction
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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...
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Gemstones
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Dec 22, 2016
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Rapaport News
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India Cash Crunch Stalls Gemfields Auction
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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...
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Gemstones
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Dec 04, 2016
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Rapaport News
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Gemfields Boosted by Rising Emerald Demand
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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...
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Gemstones
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Sep 26, 2016
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Rapaport News
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Gemfields Ramps Up Ruby Output
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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...
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Gemstones
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Aug 01, 2016
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Rapaport News
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Gemfields Closes Loan Deal to Hike Ruby Output
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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...
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Mining
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Jul 05, 2016
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Rapaport News
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Gemfields Ruby Sale Fetches $44M
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Gemfields said it islaunching a campaign to market rubies from Mozambique after the company reportedits largest sale to date for stones from the country’s Montepuez mine.The miner sold $44.3 million of rough rubies and corundum...
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Gemstones
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Jun 20, 2016
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Rapaport News
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Gemstones
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May 05, 2016
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Rapaport News
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Gemfields’ 1H Revenue -9%, Profit Slumps 65%
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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...
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Gemstones
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Feb 22, 2016
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Rapaport News
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Gemfields Achieves Average Price of $318/ct at Ruby Auction
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Gemfields plcreported revenue of $28.8 million from an auction of higher- and medium-qualityrough rubies from the Montepuez ruby deposit in Mozambique.The company achieved an average price of $318 per carat, selling 90,642out of 92,136 carats, or 45 out of 49 lots,...
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Gemstones
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Dec 21, 2015
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Rapaport News
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Gemfields Debuts Ruby Jewelry Ad Campaign With Mila Kunis
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Gemfields released a short film promoting ruby jewelry that is modeled by its own celebrity ambassador Mila Kunis and produced by fashion photographer Jeff Burton.The short film shows dream-like images of Kunis wearing ruby jewelry...
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Gemstones
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Jul 14, 2015
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Ronen Shnidman
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Gemfields First Ruby Auction Achieves $34M
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Gemfields Plc reported that its inaugural auction of ruby and corundum from its 75 percent owned Montepuez ruby deposit in Mozambique achieved $33.5 million or an average $18.43 per carat. The auction took place in Singapore...
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Gemstones
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Jun 18, 2014
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Deena Taylor
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Gemfields' 3Q Kagem Production -45%
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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...
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Gemstones
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May 04, 2014
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Deena Taylor
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Gemfields' 1H Revenue Soars, Profit Declines
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Gemfields plc reported that its revenue soared 137 percent year on year to $65.7 million during the six months that ended on December 31, 2013. The company attributed the rise to strong demand at its...
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Gemstones
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Mar 03, 2014
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Deena Taylor
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