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, reported near-record revenues of $262m for FY2023, despite lowered production of both emeralds and rubies, and the cancellation of an emerald auction. Revenue from Kagem, the Zambian emerald mine fell 40 per cent to $89.9m. Earnings at the Montepuez ruby mine, in Mozambique, fell 9 per cent $151.4m. Gemfields holds […]

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Coloured gemstone producer Fura Gems announced the completion of first phase of the bulk sampling program at its Coscuez emerald mine in Colombia. Drilling data, along with the bulk sampling results, will contribute to a maiden mineral resource estimate expected to be published in the fourth quarter of this year. Company President and CEO Dev […]

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