Gemfields Group Limited has shared the results of its most recent mixed-quality rough ruby auction, which took place from November 25 to December 11, 2024. The event generated $46.2 million in revenue, with 97 of the 102 available lots (totaling 167,865 carats) successfully sold, achieving a 95% success rate. While the revenue was lower compared […]

The post Gemfields Mixed-Quality Ruby Auction Yields $46.2 Million appeared first on The Jewelry Magazine.

Gemfields suffered a slump in sales and prices at its latest auction of rough emeralds from its Kagem mine, in Zambia. The UK-based company blamed conflicts, elections, and economic uncertainty in China, compounded by a diary clash with an emerald competitor, reportedly selling at low prices. Gemfields sold only 61 per cent of the almost […]

The post Gemfields hit by Slump in Emerald Sales appeared first on The Jewelry Magazine.

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 […]

The post Record Ruby Prices at Gemfields Auctions appeared first on The Jewelry Magazine.

Gemfields Group Limited has announced the appointment of Bruce Cleaver as the new Chair of the Board, effective from 1st July 2024. Cleaver, known for his distinguished leadership and extensive experience in the gemstone mining sector, will be taking over the reins from Martin Tolcher. Cleaver will also become an independent Non-Executive Director and Chair […]

The post Gemfields Appoints Bruce Cleaver as New Chair appeared first on The Jewelry Magazine.

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 […]

The post Gemfields Sells $262m Despite Lower Production appeared first on The Jewelry Magazine.

A government official in Madagascar has been convicted by a UK court of seeking bribes in exchange for gemstone mining licenses. Romy Andrianarisoa, 47, who was chief of staff to the country’s president, approached Gemfields, the UK ruby and emerald miner, together with an accomplice. They offered to arrange meetings with President Andry Rajoelina and […]

The post Official Guilty of Seeking Bribe from Gemfields appeared first on The Jewelry Magazine.