Gemfields recorded revenues of $26.8 million from its latest auction of higher-quality rough emeralds, reflecting continued global demand for premium gemstones despite cautious market sentiment linked to geopolitical and economic uncertainty. The auction, conducted between May 4 and May 21, 2026, achieved a strong 97% sell-through rate, with 36 out of 37 lots successfully sold. […]

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Gemfields Group Limited has finalized a $50 million agreement to sell its prestigious luxury brand, Fabergé Limited, to U.S.-based investment firm SMG Capital LLC. The transaction includes an upfront payment of $45 million due upon completion—scheduled for 28 August 2025—and an additional $5 million in the form of ongoing royalties, calculated at 8% of Fabergé’s […]

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Zambia has officially suspended the 15% export duty on precious gemstones and metals, a significant move poised to invigorate the nation’s emerald industry. The decision, announced by Minister of Finance Dr. Situmbeko Musokotwane, takes immediate effect and is expected to enhance the competitiveness of Zambia’s gemstone exports. The suspension benefits key players in the industry, […]

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Gemfields Group Limited, a leading player in the colored gemstone sector, has initiated a series of cost-cutting measures to address pressing challenges affecting its operations and revenues. The company reported that recent emerald and ruby auctions underperformed due to an oversupply of Zambian emeralds at reduced prices, a decline in premium ruby production, subdued demand […]

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Gemfields, the British gemstone miner, says it achieved the highest ever average price per carat for rubies sold at its June auctions. The sale of 216,600 carats raised a total of £68.7m – an average $316.95 per carat. Gemfields cautioned that varying mixes of size, color and clarity means the results of each auction are […]

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A colossal emerald cluster, weighing 187,775 carats (37,555-grams) is to be sold later this month by Gemfields. The UK-based miner says the so-called Kafubu Cluster could well be the most expensive single emerald piece it has ever sold. It was discovered at the Kagem emerald mine in Lufwanyama, Zambia, in March 2020. Gemfields has a […]

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Pallinghurst Resources has announced that having completed the de-listing of Gemfields and converting it into an unlisted subsidiary, it has appointed Sean Gilbertson as the new CEO, restructured the Board and management responsibilities and has initiated a thorough review and analysis of operations to prepare an updated development plan for Gemfields. The findings of its […]

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