IN BRIEF: Gemfields annual auction revenue slumps to $129 million

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Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - Says auction revenue drops 34% to $129 million in 2025 from $196 million in 2024, and drops 47% from $242 million in 2023. Notes that the second processing plant at Montepuez Ruby Mining Ltda in Mozambique is now in its final commissioning stage, with the project being delivered materially on budget. Expects commissioning to be completed ‘imminently’. Says it looks forward to introducing the first rubies produced by this plant to the market at the February 2026 mixed-quality ruby auction.

Since focused mining resumed at the Kagem emerald mine in Zambia in May 2025, premium emerald recoveries have met expectations, it says. As of December 31, the net debt position is $39.2 million, down from $80.5 million at December 31, 2024.

Gemfields intends to release its annual financial results on March 26.

Current stock price in London: 6.00 pence

12-month change: up 12%

Current stock price in Johannesburg: R 1.22, down 5.4% on Friday

12-month change: up 1.7%

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