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Gemfields Group ( (PLLHF) ) has shared an announcement.
Gemfields announced the results of a mini-auction for Mozambican rough rubies, generating USD 11 million in revenue with 62% of the carats sold. The auction, part of an early market discovery process, highlighted strong customer engagement but also noted challenges such as unsold lots and illegal mining activities impacting operations. The company has deferred its usual year-end ruby auction to early 2026 due to delays in commissioning a new processing plant and issues with illegal miners affecting supply infrastructure and market prices.
More about Gemfields Group
Gemfields Group Limited is a leading miner of colored gemstones, dual-listed on the Johannesburg and London AIM stock exchanges. The company operates and owns 75% of Kagem Mining in Zambia, a major emerald mine, and Montepuez Ruby Mining in Mozambique, one of the world’s significant ruby deposits. Gemfields is known for its proprietary grading system and auction platform that have revolutionized the colored gemstone industry. The company is committed to responsible mining practices, community development, and raising the profile of African gems globally.
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