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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... 

Gemfields generates first ruby revenue in 15 months

By: Marleny Arnoldi     9th April 2021 London-listed Gemfields has generated revenue of $58-million from seven online ruby auctions held during March 15 to April 8. The average selling price was $171.33/ct. 

Gemfields seeking alternatives to auctions

By: Simone Liedtke     18th September 2020 Gemstone miner Gemfields says it is unable to provide guidance as to when it might be able to host its next auction, or generate meaningful revenue from sales, with its financial results for the first half of this year, ended June 30, reflecting the "immense impact” of the Covid-19 pandemic and... 

Gemfields seeking admission to London’s Aim market 

By: Simone Liedtke     17th January 2020 Gemstone miner Gemfields intends to seek admission to trade on the Aim market of the LSE. The company does not intend to raise capital in conjunction with the admission, which it expects will become effective on February 14. 

Gemfields’ latest auction nets $71.5m

By: Simone Liedtke     17th December 2019 Dual-listed Gemfields sold about 88% of its lots on offer at its most recent auction, spanning December 10 to 14, in Singapore. Of the 104 lots offered, 91 were sold, generating auction revenues of about $71.5-million at an average price of $77.12/ct. 

Gemfields delivers varied interim results, remains intent on London listing

By: Simone Liedtke     20th September 2019 Dual-listed Gemfields, which remains intent on listing on the Aim, delivered a “profitable, but varied” performance during the first half of the year, ended June 30, chairperson Brian Gilbertson said on Friday. He explained that, when compared with the first half of 2018, total rock handling had... 

Gemfields enters into Moz gold JV

By: Creamer Media Reporter      26th June 2019 JSE-listed gemstone producer Gemfields has entered into a joint venture (JV) with Mozambican company Mwiriti to explore for gold over greenfield licences near the companies' Montepuez Ruby Mining (MRM) JV operation, in Mozambique. Gemfields will hold 75% of the new JV and Mwiriti the balance. 

Responsible sourcing of gemstones to receive more attention – Gemfields

By: Tasneem Bulbulia     20th June 2019 Responsible sourcing of coloured gemstones will receive ever-increasing attention and become progressively more important to consumers, predicts Gemfields and Kagem Mining CEO Sean Gilbertson. The observation comes as Gemfields recently contributed new data and insights to independent global... 

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