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  Gemfields signed to sell its entire interest in Fabergé    Gemfields announces that it has signed an agreement to sell its entire interest in wholly owned Fabergé Limited, the iconic luxury brand, to SMG Capital LLC, for a total consideration of USD 50 million. Of that sum, USD 45 million is payable to Gemfields by the Buyer on completion of the sale (which is expected on 28 August 2025).   The remaining USD 5 million is payable to Gemfields by the Buyer by way of quarterly royalty payments at a rate of 8% of Fabergé’s revenue. The sale is not expected to be subject to regulatory or any other approval processes.   Fabergé is one of the world’s most renowned names in luxury, underscored by a well-documented and illustrious heritage. The brand sells jewellery and objects d’art through its website, boutiques and via international wholesale partners.  The sale concludes Gemfields’ strategic review in respect of Fabergé, which was first announced o...

  Gem mining industry back on track to continue that trajectory   Further to the announcement made by the Company on 8 January 2025, Gemfields is pleased to announce that the Honourable Minister of Finance of Zambia, Dr Situmbeko Musokotwane, has suspended the 15% export duty on precious gemstones and metals by issuing Statutory Instrument No. 4 of 2025 on 18 February 2025 (the Customs and Excise (Precious Stones and Metals) (Export Duty) (Suspension) Order). This suspension is effective immediately. As a result, the 15% export duty on precious gemstones will no longer apply to the Zambian emeralds mined by Kagem Mining Limited ("Kagem") which is 75% owned by Gemfields and 25% owned by the Zambian Government's Industrial Development Corporation.    Sean Gilbertson, CEO of Gemfields, said, “We express our sincere thanks to President Hakainde Hichilema’s government for their prompt and impressive action in addressing the 15% export duty on precious gemstones. ...

Scheduled from 17 - 19 March 2025 at the Dubai Diamond Exchange   Jemora Gemhouse, an innovative auction house dedicated to rare and valuable polished coloured gemstones, is set to redefine the gemstone market by bridging the gap between coloured gemstone owners and an exclusive network of buyers.   Jemora Gemhouse (JGH), led by Dev Shetty and his team, establishes a sanctuary for the world's rarest gems. Known for the turnaround of Gemfields, Shetty played a key role in developing their emerald and ruby mines. Mr. Shetty also founded Fura Gems, the only company mining emerald, ruby, and sapphire globally.   Jemora Gemhouse will offer collectors, luxury brands, and trade partners’ unparalleled access to some of the world's most exquisite, rare and valuable collections of polished coloured gems.  Key Features of Jemora Gemhouse:   Exclusive Access: A specialised platform connecting unique and premium-coloured gemstone owners with potential buyers in ...

  Gemfields list four key challenges impacting operations!!   Suggest the related suitable heading & sub heading for the given matter: Following Gemfields’ most recent emerald and ruby auctions (the results of which were published on 22 November and 12 December 2024 respectively).   The Group announces that it has taken, and will continue to undertake, actions to cut costs and streamline business activity amid four key challenges being encountered concurrently, while maintaining focus on the Group’s principal growth project, completion of the second ruby processing plant at Montepuez Ruby Mining Limitada in Mozambique (MRM).   In a Strategic Update, Gemfields’ most recent emerald and ruby auctions have earned revenues of USD 16.1 million and USD 46.2 million respectively, as previously announced. These revenues are materially lower than the company has experienced in recent years due to three principal factors. a) disturbed emerald market dynamics ari...

Joint forces that shine a spotlight on Zambian emeralds   The New York-based designer, known for her asymmetrical gem-set jewellery, has joined forces with Gemfields on a special capsule collection, showcasing responsibly mined emeralds from Kagem in Zambia.   The Kimberly McDonald x Gemfields emerald suite features Irregular Shaped Emerald Drop Earrings and an Irregular Shaped Emerald Tennis Necklace. Gems from the Kagem mine – which is majority-owned and operated by Gemfields and has been the source of some of the world’s most exceptional emeralds – are the perfect complement to these playful, asymmetric pieces. Kimberly McDonald’s design motto is to let the natural speak for itself – and Zambian emeralds lend themselves perfectly to this aesthetic. Kimberly’s pieces feature gems set at different angles and heights, giving each one a quirky, individual appeal.    The drop earrings contain more than 26 carats of emeralds of different shapes and sizes in an irregular...

Sources Zambian emeralds & Offers to the world map Responsible sourcing of coloured gemstones will receive ever-increasing attention and become progressively more important to consumers, predicts Sean Gilbertson, CEO of Gemfields and Kagem Mining. The observation came as Gemfields contributed new data and insights to the latest results of the Knight Frank Luxury Investment Index, which highlighted coloured gemstones. Gemfields operates the Kagem emerald mine in Lufwanyama in partnership with the government’s Industrial development Corporation (IDC) and is at the forefront of promoting responsibly sourced Zambian emeralds in the international market.  “The swing towards precious coloured gemstones is overwhelming. The past decade has seen the world record prices for an emerald and rubies surpass that of a colourless diamond on a per carat basis. It surely can’t be long before sapphires overtake diamonds, too,” said Mr Gilbertson. “We expect vibrant consum...

Illegal Mining Creates social evils! The world’s leading supplier of responsibly sourced coloured gemstones, Gemfields, has warned that illegal miners – including juveniles - are putting their lives at risk and facing modern slavery in Mozambique. The London-based company, which owns 75% of Montepuez Ruby Mining (MRM) in Mozambique, has observed increasing numbers of illegal miner pit collapse incidents in 2019, resulting in the loss of multiple lives. MRM has responded by providing humanitarian assistance in rescue and recovery operations, as well as by increasing on-site signage warning of the dangers of illegal mining and campaigning to raise awareness among the local communities and government officials to assist in tackling the issue. In addition, MRM has carried out an investigation into the illegal mining activities in the Montepuez area of Mozambique, finding that most of the illegal miners are not from the local area and are controlled by syndicates and mid...

With National Geographic a partnership of vital Supporting African communities and conservation Gemfields, the world’s leading supplier of responsibly sourced coloured gemstones, is partnering with National Geographic to lift the veil on vital projects supported by Gemfields in Africa, benefitting both communities and conservation. Gemfields’ gemstone mining operations in both Zambia and Mozambique provide a significant benefit to these African countries, not only through a substantial source of taxation to the national economy, but in additional projects chosen for the difference they make in protecting Africa’s rich biodiversity and promoting sustainable livelihoods for local communities. Gemfields operates the Kagem emerald mine in Lufwanyama in partnership with the Zambian government, which owns 25 percent. The two short films created through the collaboration, follow National Geographic photographer and filmmaker Shannon Wild as she explores the communitie...

Zambian shares experience on Future of the gemstone mining A high-level delegation of officials from Zambia visited Mozambique last week to share experiences on the future of the gemstone mining sector between the two nations, which are home to the world’s largest emerald and ruby mines respectively. The delegation, led by Ministry of Mines Permanent Secretary Paul Chanda, included senior representatives from the Zambia Revenue Authority, Mine Workers Union of Zambia (MUZ), National Union of Miners & Allied Workers (NUMAW) and Industrial Development Corporation (IDC), which owns 25 percent of Kagem Mining in a partnership with London-based Gemfields, which also operates Montepuez Ruby Mining (MRM) in the Cabo Delgado Province of Mozambique. The Zambian group, accompanied by Kagem chairman Dr Sixtus Mulenga and Gemfields and Kagem CEO Sean Gilbertson, travelled to Mozambique for the inauguration of MRM’s new US$15 million sort house by the Governor of the Cabo De...