Gemstones - Copperbelt Katanga Mining

Gemfields Earns $25.4m From Year-End Emerald Auction as Market Demand Rebounds 1

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

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

Gemstones Corporate News

Gemfields Reports $60M in Auction Revenue, Nears Completion of Second Ruby Plant

July 31, 2025July 31, 2025 Constance

Gemfields Achieves $60M in H1 Auction Revenue, Set to Launch New Ruby Plant in Mozambique Gemfields, the AIM-listed gemstone producer, has announced total auction revenues of $60 million for the six months ended June 30, 2025. As of June 30, the company reported a net debt position of $59.6 million, prior to factoring in $16.1 million in auction receivables. This figure includes proceeds from a fully underwritten $30 million rights issue completed on June 13, which involved the issuance of 556.2 million new shares. Significant operational progress is also underway.… Read More Here

Corporate News Gemstones Precious Stones

Gemfields Nears Completion of Montepuez Ruby Mine Expansion Amid Challenges

July 11, 2025July 11, 2025 Constance

Gemfields to Triple Ruby Output as $70M Montepuez Expansion Nears Completion Gemfields, the UK-based leader in coloured gemstone mining, is nearing the final stages of a major expansion at its Montepuez ruby mine in Mozambique. The $70 million project is expected to significantly increase production capacity, despite recent delays and operational challenges. The company announced that construction of its second processing plant at Montepuez is now 95% complete. Once commissioned, the facility will boost the mine’s ore processing capacity from 200 to 600 tonnes per hour—effectively tripling its throughput. Completion… Read More Here

Gemstones Corporate News

Gemfields Delays Completion of Second Ruby Processing Plant in Mozambique

June 20, 2025June 20, 2025 Constance

Gemfields has announced a delay in the final completion of the second processing plant (PP2) at its Montepuez Ruby Mine (MRM) in Mozambique. The facility, designed to triple the mine’s ore processing capacity from 200 to 600 tonnes per hour, is now expected to be fully completed by September. Although construction is 95% complete and remains largely on budget, certain critical components—specifically the tailings belt conveyor and decanter centrifuge—are still unfinished. Despite this, Gemfields anticipates that PP2 will begin producing rubies in August using its core systems. The delay has… Read More Here

Corporate News Gemstones

Gemfields Raises $30 Million Through Successful Rights Issue

June 14, 2025June 14, 2025 Constance

Gemstone mining company Gemfields has successfully concluded a fully underwritten rights issue, originally announced on April 11. The offering resulted in the issuance of approximately 556 million new ordinary shares, raising around $30 million in capital for the company. Gemfields reported that it received valid acceptances for about 458 million of the new shares, representing roughly 82.4% of the total shares offered. The remaining 98 million shares will be taken up by the underwriters of the rights issue. Assore International Holdings will subscribe to approximately 64 million shares, while Rational… Read More Here