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Construction|Financial|Gemfields|Mining
Construction|Financial|Gemfields|Mining
construction|financial|gemfields|mining

Gemfields reports $60m in first-half auction revenues

31st July 2025

By: Sabrina Jardim

Creamer Media Online Writer

     

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Aim-listed gemstone miner Gemfields has reported total auction revenues of $60-million for the half-year ended June 30.

The company also reports a net debt position of $59.6-million, before auction receivables of $16.1-million, as at June 30, which includes proceeds from the fully underwritten $30-million rights issue completed on June 13 through the issuance of 556.2-million new shares.

Additionally, the company notes that construction of its subsidiary Montepuez Ruby Mine’s second processing plant, in Mozambique, is nearing completion and remains materially on budget, with first ruby production expected in August and full completion anticipated during September.

Gemfields further says its 75%-owned Kagem emerald mine, in Zambia, resumed focused mining in May by reopening two production points in the Chama pit, with a further moderated expansion from July while continuing to process stockpiles through its upgraded wash plant.

Full commentary on the operational performance and financial results will be available in Gemfields’ interim results, which are due to be published on September 26.

Meanwhile, the company also notes that material progress has been made in respect of the strategic review of its wholly-owned luxury brand Fabergé.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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