Gemstones - Copperbelt Katanga Mining

Gemfields Generates $53 Million from Mozambique Ruby Auction 1

Gemfields Ruby Auction Raises $53M as Montepuez Mine Expands Processing Capacity Gemstone producer Gemfields reported revenue of $53 million from a mixed-quality rough ruby auction held from February 9 to 20. The rubies were sourced from Montepuez Ruby Mining (MRM), Gemfields’ 75%-owned operation in Mozambique and one of the world’s leading ruby deposits. At the auction, 121 of the 135 lots offered were sold, representing a 90% sales rate. In volume terms, 189,620 carats of the 214,509 carats available were purchased, equivalent to 88% of total carats on offer. The… Read More Here

Kagem Mining Celebrates Four-Year Lost Time Injury-Free Safety Milestone

February 20, 2026February 21, 2026 admin0 comment

Kagem Mining Achieves Four Years Without Lost Time Injury, Earns Recognition from Minerals Regulation Commission Kagem Mining Limited has been formally recognised by the Minerals Regulation Commission for achieving four consecutive years without a Lost Time Injury (LTI) a significant milestone in Zambia’s mining sector. The recognition marks a historic first for Kagem and underscores the company’s sustained commitment to workplace health and safety in a high-risk industry. Regulatory Commendation Director of Mine Inspections and Audits at the Minerals Regulation Commission, Engineer Elite L. Mhone, commended the company for its… Read More Here

Corporate News Gemstones

Gemfields Records $128.5 Million in Auction Revenue as Ruby and Emerald Operations Advance

January 30, 2026January 30, 2026 Constance

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… Read More Here

Mining in Zambia Corporate News Gemstones

Kagem Mining Agrees to 10% Pay Rise for Unionised Workers Under New Collective Agreement

January 26, 2026January 26, 2026 Constance

Kagem Mining Secures 2026/27 Collective Agreement with 10% Salary Increases and 13th Cheque Emerald producer Kagem Mining, which is 75 percent owned by Gemfields and 25 percent by the Zambian government’s Industrial Development Corporation (IDC), has successfully concluded negotiations for its 2026/27 collective agreement covering unionised employees. Under the agreement, employees will receive a 10 percent salary increase in 2026 and a further 10 percent increase in 2027, applied uniformly across the workforce. Negotiations between Kagem management and the Mine Workers Union of Zambia (MUZ), together with the National Union… Read More Here

Mining in Zambia Gemstones

Gemfields Earns $25.4m From Year-End Emerald Auction as Market Demand Rebounds

December 7, 2025December 7, 2025 Constance

Gemfields Closes 2025 With Strong Emerald Auction Performance Despite Earlier Kagem Disruptions Gemfields has announced $25.4 million in revenue from its November–December auction of commercial-quality rough emeralds, ending the year with one of its strongest sales performances despite earlier operational challenges at the Kagem mine in Zambia. The auction was conducted via private viewings in Jaipur, India, followed by an online sealed-bid process. Of the 46 lots offered, 45 lots—equal to 98%—were sold at an average price of $7.46 per carat. Nearly 3.66 million carats were made available, with about… Read More Here

International Gemstones Mine Safety

Two Police Officers Killed in Attack Near Gemfields’ Montepuez Ruby Mine in Mozambique

October 26, 2025October 26, 2025 Constance

Gemfields confirms deaths of two police officers following illegal miner attack at Montepuez Ruby Mine in Mozambique Gemstone miner Gemfields has confirmed the deaths of two police officers during an attack earlier last week at its Montepuez Ruby Mining (MRM) operation in Mozambique. According to the company, approximately 40 illegal miners marched on the mine’s gate and attacked police officers stationed at the site. Two officers were killed in the incident, including a commander from Mozambique’s Natural Resources Protection Force. Gemfields stated that no MRM employees or contractors were injured,… Read More Here

Gemstones Corporate News

Gemfields Generates $11M from Montepuez Ruby Auction Amid Rising Illegal Mining Disruptions

October 6, 2025October 6, 2025 Constance

Gemfields Reports $11 Million in Revenue from Montepuez Mini Ruby Auction Amid Illegal Mining Challenges Gemfields generated $11 million in revenue from a mini-auction of rough rubies from Montepuez Ruby Mining (MRM), held via online bidding following viewings in Bangkok, Thailand, from September 29 to October 3. Of the 33 lots offered, 26 were sold, representing 62% of the total 297,449 carats available. The auction achieved an average realised price of $59.43 per carat. “This mini-auction primarily featured medium and commercial grades of secondary material from a recently developed mining… Read More Here

Corporate News Gemstones

Gemfields Reports Short-Term Cash Flow Challenges Amid Operational Disruptions

September 26, 2025September 26, 2025 Constance

Gemfields Interim Trading Update: Lower Revenues, Operational Challenges, and Strategic Moves to Boost Liquidity Gemfields has issued a trading update ahead of its interim results scheduled for September 26, following its operational update for the six months ended June 30 released in July. CEO Sean Gilbertson attributed the performance to several temporary challenges that resulted in short-term cash flow pressures. “Gemstone production proved challenging during the period at both of our mines,” Gilbertson stated. “Montepuez Ruby Mining (MRM) saw a decline in premium ruby output, while Kagem Mining suspended mining… Read More Here

Mining in Zambia Corporate News Gemstones

Zambia’s Kagem Mine Yields 11,685-Carat Emerald, Gemfields Announces

August 26, 2025August 26, 2025 Constance

Gemfields Discovers Record-Breaking 11,685-Carat Imboo Emerald at Zambia’s Kagem Mine Gemfields has revealed its latest extraordinary find at Kagem Mining – an 11,685-carat emerald named Imboo, meaning “buffalo” in Bemba and Lamba. Weighing 2.337 kilograms, this exceptional gemstone is the largest of outstanding quality ever discovered at the world-renowned Kagem mine in Zambia’s Copperbelt Province. The emerald, recovered from the Chama pit on 3 August 2025, will be featured at Gemfields’ high-quality emerald auction, running until 11 September. All proceeds from the sale will be repatriated to Zambia. Kagem is… Read More Here

Mining in Zambia Gemstones News in Brief

Gemfields Sells Fabergé to SMG Capital for $50 Million to Focus on Mining Operations

August 12, 2025August 12, 2025 Constance

Gemfields Offloads Fabergé in $50M Deal to Boost Mozambique and Zambia Mining Projects Gemfields Group has sold luxury jeweller Fabergé Ltd to investment firm SMG Capital for $50 million, marking a significant step in the coloured gemstone miner’s strategy to streamline operations and refocus on its core mining business. The sale follows a strategic review launched late last year. Gemfields acquired Fabergé in 2012 to strengthen its gemstone portfolio and leverage the brand’s prestige to promote its jewellery offerings. Founded in 1842 by Gustav Fabergé, the brand became world-famous for… Read More Here