www.gemfields.co.uk
Gemfields is one of the world´s leading coloured gemstone companies. With a strong focus on Zambian emeralds, Gemfields mines, processes and markets both rough and polished gemstones internationally. Gemfields prides itself on its unique ability to bring ethically produced, conflict-free gemstones of certified provenance directly from mine to market on an integrated basis.
In order to support and influence the entire channel from mine to market, Gemfields is in the process of setting up state-of-the-art Cutting and Polishing facilities with cutting-edge technologies and will offer consumers vast quantities of emeralds in calibrated sizes, high precision and special cuts and large collections of Suites, Pairs, matching earring sets. We will also venture into co-branding projects with large, reputed retailers, most notably the company has acquired a worldwide exclusive 15 year licence to use the Fabergé brand name for coloured Gemstones
Gemfields predicts significantly increased production in last two quarters after subdued performance
Gemfields’ (LON:GEM) decision to embark on a significant waste movement programme was reflected this morning in a rather subdued quarter.
The group, which owns the Kagem emerald mine in Zambia, said the initiative will enhance the performance and efficiency of the operation.
As such it is predicting “significantly increased production” in the final two quarters of its financial year.
With around US$32 million in the bank the group is in a financially comfortable position to carry out the work to develop the operation.
An update for the three months ended September 30 revealed production was 4.9 million carats compared with 10.8 million in the previous quarter.
The grade was 205 carats, down from 500 carats and unsurprisingly production costs rose to 79 cents a carat from 32 cents.
Chief executive Ian Harebottle said: "Gemfields' mine to market strategy continues to reap benefits for Gemfields, its products and its partners.
“This is clearly evidenced in the firm demand for coloured gemstones stemming from both developed and emerging markets alike.
“Gemfields' healthy cash position has supported the company's decision to actively pursue the development of other assets in its portfolio and to increase the scale of operations at its Kagem mine, where operational performance will continue to improve post the current high wall pushback project.
“Significantly increased production outputs are anticipated in the last two financial quarters."
