Coloured gemstone specialist Gemfields sold US$72 million worth of rough rubies at an auction in Singapore, representing an all-time record for the company. Gemfields, a 100-percent owned subsidiary of Pallinghurst, offered a total of 86 lots of Mozambique rubies, of which 82 were auctioned off. The average price was pegged at US$122 per carat, a […]

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London–Its first auction of the year helped Gemfields’ Kagem emerald mine surpass the $500 million revenue mark. The auction of predominantly commercial-quality rough emerald mined in Zambia was held in Jaipur, India, from Feb. 19 to 22 and totaled $10.8 million. Both Gemfields and local news reported that bidding was lighter than normal, with some […]

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Coloured gemstone specialist Gemfields plc raised US$55 million from the sale of Montepuez rubies in Singapore from November 6 to 10, Pallinghurst announced recently. A total of 76 lots comprising of rubies extracted by Montepuez Ruby Mining Limitada were offered; 71 of which or 93 percent, were sold. The nine Montepuez auctions held since June […]

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London–Gemfields biggest investor has made an unsolicited offer to buy out the remaining shares of the company but the miner’s board said it has advised shareholders not to take action yet. London-based private equity firm Pallinghurst Resources Ltd. has offered to buy the 53 percent of Gemfields it doesn’t already own for about $145.2 million. […]

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Gemfields plc has announced that it generated revenues of US$ 14.5 million from the auction at Jaipur held from May 15-18, 2017, of predominantly commercial quality rough emerald extracted from the Kagem mine in Zambia. No beryl was placed at the auction, the Company added. Noting that there was a significant improvement in market demand, […]

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