https://www.miningweekly.com
Gemfields|Rubies
Gemfields|Rubies
gemfields|rubies

Gemfields achieved its second-highest auction revenues ever in 2023

29th January 2024

By: Creamer Media Reporter

     

Font size: - +

Gemstone miner Gemfields reports that auction revenues and pricing for both emeralds and rubies remain strong, with the company having earned auction revenues of $242-million in 2023 – the second-highest year in Gemfields' history despite the withdrawal of November 2023's auction of higher-quality emeralds.

Gemfields' 75%-owned Kagem emerald mine, in Zambia, experienced a general improvement in both the quality and quantity of premium emeralds recovered in recent months, the company points out.

Emerald auction revenues for the year totalled $90.4-million.

The miner's 75%-owned Montepuez ruby mine, in Mozambique, meanwhile, earned $151.4-million for the year.

This took Gemfields' cumulative emerald and ruby auction sales since 2009 to $2-billion, while $400-million in taxes was paid to the governments of Mozambique and Zambia.

Gemfields is planning to hold a commercial-quality emerald auction in the first quarter of this year, which will be followed by a higher-quality and a mixed-quality ruby auction in the second quarter of the year.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (07/06/2024)
7th June 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.153 0.187s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: