Gemfields earns record revenues at latest Montepuez ruby auctions 1 Gemstones 

Gemfields earns record revenues at latest Montepuez ruby auctions

Gemstone miner Gemfields’ latest series of mini-auctions for rubies mined at the Montepuez mine, in Mozambique, has generated a record $88.4-million in revenue. Of the 107 lots on offer during the seven mini-auctions, held between November 8 and December 9, 104 were sold. The average price achieved was $132.47/ct. “This has been the strongest ruby auction in Gemfields’ history and we’re very pleased with the trajectory and growth of the downstream ruby sector. Professionalised and dependable supply has always been the key to unlocking growth. “The strength of the results we’ve seen this week for… Read More Here
Gemfields' latest emerald auctions generate a record $37.9m in revenue 2 Gemstones Mining in Zambia 

Gemfields’ latest emerald auctions generate a record $37.9m in revenue

A series of five emerald mini-auctions in November and December has generated a record $37.9-million in revenue for gemstone miner Gemfields. All carats on offer were sold and the emeralds, produced at the company’s 75%-owned Kagem mine, in Zambia, were sold for an average of $150.65/ct. Among the emeralds on auction was the 7 525 ct Chipembele  emerald recovered at the Kagem mine. It is the largest emerald ever to be recovered at the mine. Longstanding Kagem customer Eshed-Gemstar bought the Chipembele emerald. “Our end-of-year emerald auction has been one of the most hotly contested… Read More Here
Gemfields finds largest emerald ever at Zambia mine 3 Gemstones Mining in Zambia 

Gemfields finds largest emerald ever at Zambia mine

Africa-focused Gemfields  has found the largest emerald ever mined at its Kagem mine in Zambia — a 7,525-carat (1,505g) gemstone named Chipembele, which means “rhino” in the local dialect of Bemba. While no official record exists, it is extremely unusual to encounter a gemstone weighing more than 1,000 carats and only a couple of dozen unique enough to deserve their own name. The last time a comparable emerald was found was in 2018, when Gemfields unearthed the 5,655-carat Inkalamu, meaning “lion”.  Prior to that, the company had dug up a 6,225-carat emerald in 2010, which… Read More Here
Gemfields swings to profit after reopening mines 4 Gemstones Emeralds Mining in Zambia 

Gemfields swings to profit after reopening mines

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
Gemfields records strong six-month performance 5 Mining in Zambia Covid-19 Gemstones 

Gemfields records strong six-month performance

JSE-listed Gemfields expects to report a net profit after tax of $23.8-million for the six months to June 30, compared with the $56.7-million net loss after tax reported for the comparative six-month period in 2020. In rand terms, the net profit after tax is expected to be R346-million. Earnings a share are expected to be $0.02 or R0.24. Gemfields’ two key operating assets, the Montepuez ruby mine, in Mozambique, and the Kagem mine, in Zambia, generated revenues of $58.9-million and $31.2-million, respectively, during the period. Gemfields reiterates in a trading… Read More Here
Top 10 Most Valuable Gemstones in The World 6 Gemstones 

Top 10 Most Valuable Gemstones in The World

Gemstones are some of the earth’s most exquisite natural treasures. People all over the world have appreciated them throughout history, for different reasons. While they are most commonly used as decorative ornaments, they are also known for their religious symbolism. Such gemstones have always been valued for their supposed healing powers too. Whether it be a diamond, ruby, or sapphire, all gemstones possess a distinct beauty. It makes each special in its own way. Despite this, the fact is that some gems are rarer than others. That’s a factor that significantly impacts their value of… Read More Here
Chrysoberyl: One of the World's Most Exotic and Expensive Gems 7 Gemstones Rare Earth Minerals You got to know this 

Chrysoberyl: One of the World’s Most Exotic and Expensive Gems

The mineral or gemstone chrysoberyl is an aluminate of beryllium with the formula BeAl2O4. Despite the similarity of their names, chrysoberyl and beryl are two completely different gemstones, although they both contain beryllium. Chrysoberyl is the third-hardest frequently encountered natural gemstone and lies at 8.5 on the Mohs scale of mineral hardness, between corundum (9) and topaz (8). Chrysoberyl belongs to the orthorhombic crystal system, forming with tabular crystals in slender prisms. Crystal twins and triplets are quite common. Common chrysoberyl is colored by iron, while color change varieties obtain their color through chromium.… Read More Here
Gemfields increases production after disruptions of 2020 8 Mining in Zambia Gemstones 

Gemfields increases production after disruptions of 2020

Gemstone miner Gemfields’ 75%-owned Kagem emerald mine, in Zambia, produced 10.34-million carats of gemstones, including emeralds and beryls during the first half of the year, while its Mozambique-based Montepuez ruby mine, in Mozambique, produced 2.05-million carats. This is despite the Kagem mine not having produced in January and February, while production at its Montepuez mine was suspended in January. In terms of gemstone sales, 270 000 ct of stones from the Kagem mine were offered for auction during March, all of which were sold for $31.4-million. Montepuez’s first-half production of 260 000 ct… Read More Here
Gemfields: highest auction revenue since March 2016 9 Mining in Zambia Gemstones 

Gemfields: highest auction revenue since March 2016

Gemfields has announced the results of an emerald auction comprising a series of five sequential mini-auctions held during the period 15 March – 17 April 2021. The auction contained a selection of grades that are typically offered at Kagem Mining auctions of higher quality emeralds. Selected lots were made available for in-person and private viewings by customers in Tel Aviv, Dubai and Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a… Read More Here
Gemfields reports a net loss of $93 Million due to Restricted Auctions 10 Gemstones Covid-19 Mining in Zambia 

Gemfields reports a net loss of $93 Million due to Restricted Auctions

Aim- and JSE-listed Gemfields says its full-year results reflect the magnitude of the impact that Covid-19 has had on the company, rendering it unable to hold auctions in its traditional format since February 2020. The group had to implement a range of cash saving measures, including suspending operations at the emerald and ruby mines operated by Kagem Mining, in Zambia, and Montepuez Ruby Mining, in Mozambique, respectively. “We believe the difficult decisions taken during 2020 best position Gemfields for an optimal recovery in 2021,” says CEO Sean Gilbertson. Gemfields for the year… Read More Here

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