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Latest Gemfields emerald auction yields $35m

By: Creamer Media Reporter Aim-listed Gemfields’ latest auction of rough emerald mined at its Kagem mine in Zambia has earned the company $34.9-million from the sale of 598 000 ct. The auction, which was held in Lusaka from November 13 to 17, was the second for the current financial year, and 16 of the 17 lots on offer had... 

Pallinghurst platinum mine invests in low-energy smelt alternative

By: Martin Creamer The platinum platform of diversified JSE-listed Pallinghurst has invested in a low-energy hydrometallurgical alternative to high-energy smelting. The environment-friendly Kell process, which Pallinghurst has been studying over a prolonged period, requires only a fifth of the electricity required... 

Gemfields triples FY revenue to $160m

By: Natalie Greve Posting a threefold jump in revenue from $48.4-million in 2013, to $160.1-million for the year ended June 30, gemstone producer Gemfields has enjoyed what CEO Ian Harebottle describes as a “stellar year”, during which the miner saw record revenues emerge from its emerald business. The group also... 

Gemfields pursues Sri Lankan sapphire opportunities

By: Creamer Media Reporter Aim-listed Gemfields has entered into a joint venture (JV) with East West Gem Investments (EWGI) to pursue opportunities in the Sri Lankan sapphire and gemstone sector. Under the terms of the agreement, Gemfields would gain a 75% stake in three EWGI subsidiaries, holding 16 exploration licences... 

Pallinghurst readies for share earnings jump in H1

By: Natalie Greve Johannesburg-listed Pallinghurst Resources expects earnings a share and headline earnings a share to increase to $0.14 for the half-year ended June 30, improving from a loss a share and headline loss a share of $0.10 in the first half of 2013.  “The significant period-on-period increase in... 

Gemfields achieves second-highest revenue from lower-quality gems

By: Natasha Odendaal Aim-listed Gemfields’ first auction of the current financial year netted the company the second-highest proceeds to be generated from lower-quality rough emerald and beryl sales. The rough emerald and beryl auction, held in Lusaka from August 5 to 8, earned the company revenues of $15.5-million... 

Mozambican rubies perform well at first auction

By: Keith Campbell The first auction of rough rubies and corundum from the Montepuez ruby mine in Mozambique, held in Singapore from June 12 to June 17, brought in revenues of $33.5-million. This was reported by London Stock Exchange AIM-listed Gemfields plc, which owns 75% of miner Montepuez Ruby Mining Limitada.... 

Inaugural ruby auction nets $33.5m – Gemfields

By: Creamer Media Reporter The inaugural auction of rough ruby and corundum mined at Aim-listed Gemfields’ 75%-owned Montepuez deposit, in Mozambique, has raised $33.5-million, taking the coloured-gemstones mining and marketing company’s overall revenue for rough gemstone sales to in excess of $143-million for the current... 

Gemfields emerald auction yields $13.5m revenue

By: Leandi Kolver Coloured-gemstones mining and marketing company Gemfields on Tuesday reported a gross revenue of $13.5-million after selling 268 000 ct of emeralds at auction. The revenue from this latest auction, which took place from April 28 to May 2, in Jaipur, India, was 59% higher than that of the prior... 

Gemfields prepares for inaugural ruby auction, reports sound quarter

By: Natasha Odendaal JOHANNESBURG (miningweekly.com) – As operations ramp up at its 75%-owned Montepuez ruby deposit, in Mozambique, Aim-listed Gemfields is preparing for its inaugural ruby auction in Singapore in mid-June. "Gemfields is pleased to report on another sound quarter [to March], which has seen further... 

Gemfields secures $15m unsecured loan from key shareholder

By: Natalie Greve Aim-listed Gemfields has inked a $15-million unsecured, 12-month working capital facility with specialist natural resources investment company and key shareholder Pallinghurst Resources, the funds of which will be used to “smooth" the company's centrally available cash flow. This came as the... 

Resources Watch

By: Creamer Media Reporter This week: Pallinghurst brings in new technology to boost its platinum business. And, Gemfields is doing the ‘De Beers-equivalent’ in emeralds. 

Gemfields rolls out ‘the art of colour’

Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about gemstones miner Gemfields' 'art of colour' strategy. 

Gemfields doing ‘De Beers-equivalent’ in emeralds

By: Martin Creamer London-listed coloured-gemstones mining and marketing company Gemfields, which Pallinghurst chairperson Brian Gilbertson says is doing for emeralds what De Beers did for diamonds, is now aspiring to repeat the performance in rubies. Gemfields, in which the resources fund of the JSE-listed... 

Gemfields achieves record revenue at gem auction

By: Natasha Odendaal London-listed Gemfields marked a “record revenue” year after its third auction of the year achieved revenue of $36.5-million after selling 15 of the 17 lots of gemstones on offer. The company reported in a statement on Wednesday that year-to-date revenue from rough emerald and beryl sales,... 

Gemfields achieves record revenue of $16.4m at low-grade gem auction

By: Natalie Greve Gemfields has sold 5.6-million carats of low-grade emerald and beryl for a record $16.4-million at its most recent auction in Lusaka, Zambia. The auction, which was the second offering of gems mined by the company at its Kagem emerald mine, in Zambia, saw 21 companies attending, with 20 companies... 

Gemfields revenue drops 42%, operations performing well

By: Leandi Kolver Aim-listed coloured gemstone miner Gemfields on Thursday reported a 42% drop in revenue to $48.4-million and a net loss of $22.8-million for the year ended June 30, mostly owing to disruptions in the company’s emerald auction schedule. This was a significant drop from the company’s $161.5-million... 

Zambia’s economy set to grow by 8.1% in the next few years

By: Zandile Mavuso The completion of major copper mining projects in Zambia next year is expected to contribute to economic growth of 8.1% from 2014 to 2016, advisory firm KPMG states. 

Gemfields nets $31.5m in Lusaka auction

By: Idéle Esterhuizen The 583 448 ct of rough emerald and beryl that Gemfields put on auction in Lusaka last week have earned the Aim-listed junior $31.5-million in revenue. The company reported on Monday that 37 companies had attended the auction, which was moved to Lusaka from Singapore at the request of the Zambian... 

Gemfields shifts emerald auction to Lusaka

By: Natasha Odendaal Aim-listed Gemfields, which earlier this month had to postpone its Singapore auction, said on Monday it would now sell its higher-grade rough emeralds in Lusaka, Zambia, at a July 15 to 19 auction. The firm would auction rough emeralds mined by its 75%-owned Kagem Mining at its namesake emerald... 

Gemfields in talks with Zambia over Singapore gem sale

By: Idéle Esterhuizen Aim-listed Gemfields said on Monday that it was in discussions with the Zambian Mines Ministry over the auctioning of emeralds outside the country. The company had to postpone its June 10 to 14 emerald auction in Singapore, pending clarification from the Zambian Ministry of Mines, Energy and... 

Gemfields warns of possible Zambia ban on overseas gemstone auctions  

By: Natalie Greve Aim-listed gemstone miner Gemfields has warned shareholders of a possible ban by the Zambian government on the sale of domestically mined gemstones outside of the country, which would severely impact on the company’s revenue. If instituted, the measures would prevent the company from freely... 

Gemfields H1 earnings slump to $19.5m on fewer auctions

By: Natalie Greve Aim-listed gemstone miner Gemfields on Monday reported earnings before interest, taxes, depreciation and amortisation of $19.54-million for the half-year ended December 31, 2012. This was down from the $32.44-million posted for the comparative 2011 period. 

Gemfields, Fabergé merger finalised

By: Natalie Greve London-listed Gemfields had completed its acquisition of Fabergé from JSE-listed Pallinghurst Resources.Pallinghurst had received 214-million new shares in Gemfields in exchange, giving it a 48% stake in the emerald producer. 

Gemfields Dec quarter output up 69%

By: Natalie Greve Aim-listed emerald miner Gemfields achieved record rainy season production of 6.6-million carats in the three months ended December 2012.This represented a 69% increase on the 3.9-million carats produced in the quarter ended December 2011. The average gemstone grade for the quarter was 288 ct/t,... 

Gemfields to expand ruby footprint in Mozambique

By: Megan Wait Aim-listed Gemfields has entered into a conditional agreement to buy a controlling interest in a ruby deposit adjacent to its Montepuez mine, in Mozambique. Gemfields would pay $1.75-million for 75% of a new company, with the seller, EME Investimentos, holding 25%. 

Gemfields advances mine-to-market strategy with Fabergé acquisition

By: Mariaan Webb London-listed gemstone miner Gemfields on Wednesday announced the proposed acquisition of luxury goods brand Fabergé, advancing its mine-to-market strategy. The company, which mines emeralds and amethysts in Zambia and owns interests in ruby and sapphire deposits, is buying Fabergé in a deal... 

Pallinghurst looking at new opportunities as portfolio matures

By: Henry Lazenby JSE-listed Pallinghurst Resources CE Arne Frandsen on Friday said the company intended to pursue a number of new investment opportunities, both within its current portfolio and in developing investment platforms, as its original portfolio matured. For this reason, the Pallinghurst board approved... 

Company Announcement: Views from the Trading Floor

Oil & Gas Tower Resources (LON:TRP) slipped 10% to 3.55p after the company announced has raised GBP5.41 million before expenses through a conditional placing of 180.33 million new ordinary shares at 3 pence per share. As previously announced, the Mvule-1 well, which is the third and final... 

Ian Harebottle

By: Martin Creamer Position: CEO Gemfields Main Activity of the Company: Coloured gemstone mining and promotion  

Gemstone producer’s Zambian assets improve outputs

Africa-focused coloured gemstones producer Gemfields’ October investor update reports that despite a potential global economic downturn the company’s increase in sales are sound evidence of the continuing demand for its products across all quality ranges 

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