Illegal miners kill two cops at Gemfields ruby mine
Two police officers were killed earlier this week during an attack at Gemfields’ (LSE: GEM; JSE: GML) Montepuez ruby mine in northern Mozambique. About 40 illegal miners marched on the…
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Gemfields to auction huge 11,685-carat ‘buffalo’ emerald
Coloured precious stones miner Gemfields (LSE: GEM; JSE: GML) has unveiled a colossal emerald weighing 11,685 carats, discovered at its 75%-owned Kagem mine in Zambia. Named Imboo, meaning buffalo in…
Delays hit Gemfields ruby plant in Mozambique
Gemfields (LSE: GEM; JSE: GML) said on Friday that the commissioning of a second processing plant at its Montepuez ruby mine in Mozambique has been postponed to September due to…
Gemfields to resume emerald mining in Zambia
Coloured precious stones miner Gemfields (LSE: GEM; JSE: GML) is to resume open-pit mining at its 75%-owned Kagem emerald mine in Zambia, ending a four-month pause triggered by weak market…
Gemfields halts emerald sales over Zambia export tax
Coloured precious stones miner Gemfields (LSE: GEM; JSE: GML) has paused the sale of emeralds from its Kagem mine in Zambia, but says the government could soon reverse a 15%…
Gemfields faces 21% tax as Zambia restores export duty
Shares in Gemfields (LSE:GEM; JSE: GML) fell on Wednesday after the coloured gemstones miner said it faces a high tax bill in Zambia following the government’s decision to re-introduce a…
Gemfields auction revenue falls as market softens
Coloured gemstones miner Gemfields (LSE: GEM; JSE: GML) fetched US$121 million in revenue from auctions in the six-month period to June 30, a 17% decline from a year ago as…
Gemfields fetches almost US$69M at ruby auction
Coloured gemstones miner Gemfields (LSE: GEM; JSE: GML) said on Wednesday it sold almost US$69 million of mixed-quality rubies at its June auction, with 97% of the offering gone. The…
Gemfields picks ex-De Beers boss Bruce Cleaver as new chair
Emeralds and rubies miner Gemfields (LSE: GEM; JSE: GML) has appointed former De Beers chief executive, Bruce Cleaver, as chair and independent non-executive director. Cleaver, who was at the helm…
Gemfields studies 2 grams-a-tonne gold in Mozambique
Africa-focused Gemfields (LSE: GEM; JSE: GML), known by its emeralds and rubies, has produced its first resource estimate for the Nairoto gold project in Mozambique showing high grade from a…
Gemfields’ sparkle dims, profit falls 86% on nixed sale
Coloured gemstones miner Gemfields (LSE: GEM) posted on Monday a 86% drop in pre-tax profit for 2023 due partly to the cancellation of a high-quality emerald auction in November, a lower…
Gemfields warns of $2.8 million loss on writedown
Precious gemstones miner Gemfields (LSE: GEM) warned on Friday that it expects to swing to a loss of US$2.8 million in 2023 from a US$74.3 million profit the previous year…