Gemfields full-year auction revenues reach $128.5m
Gemstone miner Gemfields earned total auction revenues of $128.5-million for the year ended December 31.
The company reported a net debt position of $39.2-million – before auction receivables of $20.5-million – for the period, as Gemfields finalised the funding of the company’s 75%-owned Montepuez Ruby Mining's (MRM’s) second processing plant, in Mozambique.
The company says the second processing plant (PP2) at MRM is now in its final commissioning stage, with the project being delivered materially on budget.
Commissioning is anticipated to be completed imminently.
“The group looks forward to introducing the first rubies produced by PP2 to the market at the February 2026 mixed‑quality ruby auction,” Gemfields says in a statement to shareholders.
Meanwhile, the company notes that, since focussed mining resumed at its 75%-owned Kagem emerald mine, in Zambia, in May 2025, premium emerald recoveries have met expectations.
Notably, the yield included Imboo, an 11 685 ct emerald displaying an intense, verdant colour.
Gemfields says Kagem continued to run an additional night shift at the upgraded processing plant throughout 2025, which enabled processing of historic stockpiles, and has supported a positive outturn in emerald production.
Gemfields will publish its financial results for the 2025 financial year, on March 26.
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