Gemstone miner Gemfields, which operates emerald and ruby mining operations in Zambia and Mozambique, respectively, reports that its revenue for 2022 reached a record $333-million.
That includes revenue from its gemstone auctions, as well as from the sale of jewellery, watches and objets d’art produced by its Fabergé subsidiary.
Total auction revenues also set a new yearly record of $316-million, 32% higher year-on-year.
Gemfields' cash and cash equivalents were $118.4-million as at December 31, but excluded the $54.9-million outstanding balance of auction receivables.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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