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Gemfields rubies 150
Gemfields Warns of $57M Loss
Gemfields expects to suffer a loss of $56.7 million for the first half of the year amid the cancellation of most of its emerald and ruby auctions.The loss for the six months ending June 30 compares with...
Mining Sep 15, 2020 Rapaport News
Sally Morrison
Sally Morrison Returns to Natural Role at De Beers
De Beers has appointed Sally Morrison director of public relations for natural diamonds. The long-serving branding specialist has been chief marketing officer for the company’s lab-grown line, Lightbox, since 2017.Based in New York,...
Marketing May 18, 2020 Rapaport News
Gemfields Halts Mining and Sales
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...
Mining Mar 31, 2020 Rapaport News
Gemfields Bounces Back into the Black
Gemfields recorded a profit in 2019 as the cancellation of a Zambian export duty bolstered the value of the company’s Kagem emerald mine.The miner earned $39.1 million for the year, compared with a loss of $60.4 million in 2018,...
Mining Mar 25, 2020 Rapaport News
Gemfields Debuts Traceable-Ruby Program
Gemfields auctioned 12 parcels of rubies backed by GübelinGem Lab’s Provenance Proof program, the first blockchain-enabled rubies theminer has sold, it said Tuesday. “[The stones] have become the first Gemfields rubies ever topioneer the...
Mining Dec 17, 2019 Rapaport News
Emerald Demand Buoyant at Gemfields Rough Sale
Gemfields raised $27.2 million at its November sale of emeralds, capping offthe miner’s second-highest annual results in 10 years. The miner sold 320,000 carats of rough emeralds at anaverage price of $85 per carat, the highest at any...
Mining Nov 24, 2019 Rapaport News
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 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 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
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 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 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
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
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
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
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