Emeralds - Copperbelt Katanga Mining

Gemfields achieves record revenue for sold out March/April auction

April 20, 2022April 25, 2022 admin

Gemfields recorded a record $42.3-million in revenue from the sale of emeralds sourced from its Kagem mine in Lufwanyama. This was at auctions of its predominantly commercial-quality rough emeralds held in Jaipur, India, from March 15 to April 1. Of the 32 lots offered – 4.52-million carats in total – all were 100% sold out. Fifty-six companies placed bids and an average price of $9.37/ct was achieved – another record for Kagem’s commercial-quality auctions. Forty such auctions of Kagem-sourced gemstones (emeralds and beryl) hosted by Gemfields since July 2009 have… Read More Here

Emeralds Mining in Zambia

Gemfields achieves record revenue for sold out March/April auction

April 5, 2022April 5, 2022 admin

Gemfields recorded a record $42.3-million in revenue from the sale of emeralds sourced from its Zambia-based Kagem mine, at auctions of predominantly commercial-quality rough emeralds held in Jaipur, India, from March 15 to April 1. Of the 32 lots offered – 4.52-million carats in total – all were 100% sold out. Fifty-six companies placed bids and an average price of $9.37/ct was achieved – another record for Kagem’s commercial-quality auctions. Forty such auctions of Kagem-sourced gemstones (emeralds and beryl) hosted by Gemfields since July 2009 have generated $792-million in revenue. Gemfields notes that the proceeds of… Read More Here

Mining in Zambia Emeralds Gemstones

Gemfields emphasizes importance of stepping up efforts to combat illegal trade

March 23, 2022March 23, 2022 admin

An analysis of existing data on the supply of rubies and emeralds, according to gemstone miner Gemfields, reveals the “alarming” extent to which host-mine countries are being robbed of the true value of their coloured gemstone resources. Artisanal mining, both formal and informal, extracts the vast majority of coloured gemstones, according to Gemfields, for which there are few reporting standards. Furthermore, coloured gemstones are frequently sourced from countries with lax reporting regulations. As a result, it emphasizes the importance of stepping up efforts to combat illegal trade. These, and other… Read More Here

Emeralds Mining in Zambia

Zambian emeralds to go on auction on Nov 23

November 3, 2021November 3, 2021 admin

International auction house Phillips will, this month, put on sale the largest collection of Zambian emeralds ever to be offered on auction. Part of the proceeds will go to the Gemfields Foundation, which supports community and conservation projects in Africa. The Treasures of Zambia: An Exceptional Emerald Collection comprises about 45 lots, including 993 ct of fine Zambian emeralds. The gemstones were mined by Gemfields, which owns the Kagem emerald mine together with the Zambian government. Phillips features some of the world’s most important twentieth-century and contemporary works of art, design jewels, watches, photographs and editions. The auction house is… Read More Here

Gemstones Emeralds Mining in Zambia

Gemfields swings to profit after reopening mines

September 24, 2021September 26, 2021 admin

Precious gemstones miner Gemfields (LON: GEM) (JSE: GML) has swung to a first-half net profit after it reopened mines and demand for its emeralds and rubies surged. The company, which returned to the London Stock Exchange’s market for juniors last year, posted a $23.8 million net profit, which compares to a loss of $56.7 million in the same period last year as revenue increased 548% to $97.2 million. Gemfields, which operates the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique said half year revenues rose from $15,000 to $97,236. ‘WE ARE DELIGHTED TO ANNOUNCE OUR RETURN TO STRONG OPERATIONAL AND FINANCIAL PERFORMANCE AFTER THE COVID-INDUCED HORRORS OF 2020″ “We are… Read More Here

Emeralds International Mining in Zambia

Gemfields reaches record revenue at emerald auction

August 13, 2021August 13, 2021 admin

Shares in Gemfields (LON: GEM) (JSE: GML) jumped as much as 6% in London after the precious coloured gemstones miner posted a $23.1 million auction revenue – an all-time record for commercial-quality emerald sold at auctions. The sales event, held from July 28 to August 11, saw 49 companies place bids, Gemfields said. From the 32 lots offered, 31 (or 97%) of them were sold at a record average price of $6.61 per carat. Gemfields’ previous emerald auction took place in February 2020, with 2.9 million carats generating revenue of $11.5 million at an average price of $4.01 a carat. The company, which returned to the London Stock Exchange’s market for juniors last year,… Read More Here

Emeralds International Mining in Zambia

Gemfields shares spike tied to non disclosable, sensitive information

July 10, 2021July 10, 2021 admin

Shares in precious gemstones miner Gemfields (LON: GEM) (JSE: GML) jumped almost 10% in early trading in London for unclear reasons, which the company described later as “non disclosable unpublished price-sensitive information”. The company, which returned to the London Stock Exchange’s market for juniors last year, revealed it expects to announce sales of $95 million for the first half of 2021, up 533% from the same period in 2020. Gemfield’s revenues fell 83% to $15 million last year, due to impact of the pandemic on the diamonds and gemstones market. THE EMERALDS AND RUBIES MINER SAID IT… Read More Here

Emeralds Mining in Zambia

Kagem Emerald Auction Results

April 21, 2021April 21, 2021 admin

Gemfields, which operates the Kagem emerald mine in Lufwanyama, has announced the results of an emerald auction comprising a series of five sequential mini-auctions held between 15 March and 17 April 2021). The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction. Operations at Kagem, which remained suspended for a year till March 2021as a result of the Covid-19 pandemic, are expected to ramp… Read More Here

Emeralds Mining in Zambia

Zambian emeralds take centre stage in fund-raising jewellery collection

March 31, 2021March 31, 2021 admin

Emeralds responsibly sourced from the Kagem mine in Lufwanyama will form the centrepiece of a new fine jewellery collection that will raise funds for the Gemfields Foundation, Gemfields’ charitable arm that supports community and conservation projects in Africa. On the heels of her 10th anniversary and the start of a new year, renowned US-based designer Sandy Leong is renewing her commitment to sustainability by collaborating with world-leading gemstone supplier Gemfields on the release of Sol, a new collection rooted in the brand’s values and featuring responsibly sourced emeralds, 18 karat… Read More Here

Gemstones Emeralds Mining in Zambia

Gemfields warns of full-year loss

March 25, 2021March 29, 2021 admin

Gemstone miner Gemfields expects to report a net loss of $93.2-million, or R1.54-billion, for the year ended December 31, 2020, compared with a net profit of $39.1-million, or R565-million, reported for the 2019 financial year. The company’s 2020 auction schedule was severely impacted by the many travel, quarantine and congregating restrictions put in place to mitigate Covid-19 contagion. The pandemic has meant that no traditional Gemfields auctions have been held since February 2020, when $11.4-million was realised from the sale of commercial-quality emeralds in Lusaka, Zambia. Gemfields subsequently conducted a… Read More Here