R/€ = 18.1832 Change: 0.0350
R/$ = 17.3401 Change: 0.0051
Au 1771.89 $/oz Change: 0.80
Pt 983.50 $/oz Change: -7.50


Gemfields halts Mozambique operations after attack at nearby ruby mine

By: Reuters     20th October 2022 Precious gem miner Gemfields Group has stopped operations at its Montepuez ruby mine in Mozambique's Cabo Delgado province after an attack was reported at a nearby facility, it said on Thursday. "This morning, an attack attributed to insurgent activity has been reported at the neighbouring ruby... 

Ruby auctions net Gemfields a record $95.6m

By: Donna Slater     20th June 2022 Seven sequential mini-auctions of Gemfields’ rubies netted all-time high auction revenues for the miner of $95.6-million, with average prices of $246.69/ct achieved – also a new record for any mixed-quality ruby auction. The auctions, held in Bangkok during May 30 to June 17, contained a... 

Gemfields celebrates successful year with special dividend of $0.017

By: Marleny Arnoldi     25th March 2022 London-listed Gemfields says 2021 had been a good year for the company, allowing the “horrors” of 2020 to be consigned to the history books. The company has been able to allocate $20-million, or $0.017 apiece, to be distributed as a special dividend for the year ended December 31, 2021, after... 

Gemfields to swing to net profit for 2021

By: Marleny Arnoldi     22nd March 2022 London-listed Gemfields expects to swing to a net profit of $65-million for the year ended December 31, 2021, compared with a net loss of $93-million in the prior year. With the company’s two key operating assets, the Montepuez ruby mine and the Kagem emerald mine, in Mozambique and Zambia,... 

Illicit ruby, emerald mining robbing host countries of inherent true value – Gemfields

By: Donna Slater     11th March 2022 Gemstone miner Gemfields says an analysis of existing data on the supply of rubies and emeralds highlights an “alarming” extent to which host-mine countries are being robbed of the true value of their coloured gemstone resources. Gemfields notes that the vast majority of coloured gemstones are... 

Gemfields increases full-year production, sales

By: Donna Slater     31st January 2022 Gemstone miner Gemfields reports that by December 31, its 75%-owned Zambia-based Kagem emerald mine had produced 32.01-million carats for the year, at an average grade of 191 ct/t and ore throughput of 12.38-million tonnes, compared with the 9.38-million carats, 202 ct/t and 46.4-million tonnes... 

Gemfields earns record revenues at latest Montepuez ruby auctions

By: Creamer Media Reporter      10th December 2021 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... 

Gemfields records strong six-month performance

By: Tasneem Bulbulia     16th September 2021 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. 

Ruby mine recovery on horizon

By: Nadine Ramdass     4th June 2021 Insurgent attacks and Covid-19 have had a significant impact on the Mozambican mining industry, says Gemfields CEO Sean Gilbertson. The investment climate in Mozambique, particularly Cabo Delgado – which holds a lot of promise from an investment perspective, in terms of growth opportunities, and... 

Aid critical amid unstable climate

By: Nadine Ramdass     4th June 2021 Dual-listed Gemfields Mining subsidiary Montepuez Ruby Mining (MRM) – a joint venture (JV) with Mozambique-registered company Mwiriti – has prioritised humanitarian services amid insurgent attacks and illegal mining in the northern province of Cabo Delgado, in Mozambique. “Since the incidents of... 

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