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Category: Gemstones

Gemfields Announces CEO Departure Amid Ruby Mine Production and Security Challenges 1 Mining Personality Corporate News Gemstones International 

Gemfields Announces CEO Departure Amid Ruby Mine Production and Security Challenges

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Gemfields CEO Sean Gilbertson Steps Down as Mozambique Ruby Mine Faces Production Challenges Gemfields has announced that Chief Executive Officer Sean Gilbertson will step down from his role and as a director of the company on July 15, 2026, by mutual agreement with the board. Chief Financial Officer David Lovett has been appointed interim CEO while retaining his current responsibilities. Nonexecutive Chairperson Bruce Cleaver will provide additional support to the executive team as the board begins the search for a permanent successor. The company thanked Gilbertson for his leadership and… Read More Here
DRC Partners with ADEX Platform AG to Modernize Diamond and Gemstone Industry 2 Mining in DRC Diamond Gemstones Partnership 

DRC Partners with ADEX Platform AG to Modernize Diamond and Gemstone Industry

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DRC Signs Landmark Diamond Trade Agreement with Switzerland’s ADEX to Boost Transparency and Local Value Addition The Democratic Republic of the Congo (DRC) has taken a significant step toward transforming its diamond and colored gemstone industry with the signing of a strategic framework agreement between the Mining Fund for Future Generations (FOMIN) and Swiss technology company ADEX Platform AG. The agreement, signed on Monday, June 29, 2026, was officiated by Minister of Mines Louis Watum Kabamba. It formalizes a partnership that was approved during the 91st Ordinary Meeting of the… Read More Here
Gemfields Emerald Auction Raises $26.8 Million Amid Cautious Global Market 3 Gemstones Corporate News News in Brief 

Gemfields Emerald Auction Raises $26.8 Million Amid Cautious Global Market

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Gemfields Generates $26.8 Million from Zambia Emerald Auction Despite Global Economic Uncertainty Johannesburg- and London-listed gemstone miner Gemfields has reported revenue of $26.8 million from its latest auction of higher-quality rough emeralds sourced from the company’s 75%-owned Kagem Mine in Zambia. The auction, held between May 4 and May 21, saw strong participation, with 36 of the 37 lots offered successfully sold. Out of 185,135 carats made available, 183,385 carats were purchased. Gemfields achieved an average realised price of $146.08 per carat during the auction. According to Gemfields Product and… Read More Here
Kagem Mining Boosts Zambia’s Gemstone Skills with Lapidary Equipment Donation in Ndola 4 Mining in Zambia Corporate News Corporate social responsibility Gemstones 

Kagem Mining Boosts Zambia’s Gemstone Skills with Lapidary Equipment Donation in Ndola

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Kagem Mining Donates Cutting and Polishing Equipment to GPLTC Ndola to Strengthen Zambia’s Gemstone Value Addition Skills Kagem Mining, a subsidiary of Johannesburg- and London-listed Gemfields, has donated gemstone cutting and polishing equipment to the Gemstone Processing and Lapidary Training Centre (GPLTC) in Ndola, Zambia. The initiative is aimed at strengthening skills development and supporting value addition within Zambia’s growing gemstone industry. The donation includes six cutting and polishing machines, one sawing machine, two calibrating machines, as well as a range of accessories and consumables used in lapidary operations. Skills… Read More Here
Kagem releases updated ‘G-Factor for Natural Resources’ figures to 31 December 2025 5 Mining in Zambia Corporate News Gemstones 

Kagem releases updated ‘G-Factor for Natural Resources’ figures to 31 December 2025

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Kagem Updates G-Factor for Natural Resources Figures for 2025 Year-End Gemfields, which operates Kagem Mining Limited (“Kagem”) in Lufwanyama, is pleased to confirm its ‘G-Factor for Natural Resources’ figures for Kagem, which now stand at 17% for the 10-year period from 2016 through 2025. The ‘G-Factor for Natural Resources’ reveals the percentage of natural resource revenue paid to the government of the host country in the form of mineral royalties, corporation tax and, where the relevant government is a shareholder, dividends. First announced in 2021, Gemfields shares its ‘G-Factor for Natural Resources’ annually in… Read More Here
Gemfields Navigates Operational Setbacks at Montepuez and Kagem Mines as It Focuses on Recovery in 2026 6 Gemstones Corporate News 

Gemfields Navigates Operational Setbacks at Montepuez and Kagem Mines as It Focuses on Recovery in 2026

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Gemfields Reports Production and Cash Flow Pressures from Mine Disruptions in Mozambique and Zambia, Targets Operational Stability in 2026 Amid a challenging operating environment, gemstone producer Gemfields has reported that operational disruptions at its key mining assets weighed on production and cash generation for the financial year ended December 31. The company cited interruptions at its 75%-owned Montepuez Ruby Mining (MRM) operation in Mozambique and at the Kagem emerald mine in Zambia as major factors affecting performance. In a trading update, Chief Executive Officer Sean Gilbertson explained that delays in… Read More Here
Gemfields Generates $53 Million from Mozambique Ruby Auction 7 Gemstones Corporate News 

Gemfields Generates $53 Million from Mozambique Ruby Auction

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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 8 Mining in Zambia Corporate News Gemstones Mine Safety Safety & Health 

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

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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
Gemfields Records $128.5 Million in Auction Revenue as Ruby and Emerald Operations Advance 9 Corporate News Gemstones 

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

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
Kagem Mining Agrees to 10% Pay Rise for Unionised Workers Under New Collective Agreement 10 Mining in Zambia Corporate News Gemstones 

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

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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

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