Gemfields Records $128.5 Million in Auction Revenue as Ruby and Emerald Operations Advance
Gemfields Generates $128.5 Million in Auction Sales, Advances Montepuez Ruby Expansion and Kagem Emerald Production
Gemstone miner Gemfields generated total auction revenues of $128.5 million for the year ended December 31, reflecting continued operational progress across its ruby and emerald assets.
During the period, the company reported a net debt position of $39.2 million, before auction receivables of $20.5 million, as it completed the funding of the second processing plant at its 75%-owned Montepuez Ruby Mining (MRM) operation in Mozambique.
Gemfields confirmed that the second processing plant (PP2) at MRM has entered its final commissioning phase, with the project delivered materially within budget. Commissioning is expected to be completed imminently.
“The group looks forward to introducing the first rubies produced by PP2 to the market at the February 2026 mixed-quality ruby auction,” Gemfields said in a statement to shareholders.
At the company’s 75%-owned Kagem emerald mine in Zambia, Gemfields reported that premium emerald recoveries have met expectations since focused mining activities resumed in May 2025. Among the notable recoveries was Imboo, an 11,685-carat emerald distinguished by its intense, rich green colour.
Gemfields added that Kagem continued operating an additional night shift at its upgraded processing plant throughout 2025. This enabled the treatment of historic stockpiles and contributed to a positive overall outcome in emerald production.
The company is scheduled to publish its financial results for the 2025 financial year on March 26.
