Gemfields Sells Fabergé for $50 Million to Focus on Core Operations

Gemfields Group ( (PLLHF) ) has provided an update.

Gemfields Group Limited has announced the sale of its wholly owned subsidiary, Fabergé Limited, to SMG Capital LLC for USD 50 million. This strategic move, which concludes a review initiated in late 2024, allows Gemfields to streamline its operations and strengthen its balance sheet. The proceeds from the sale will support the operationalization of a new processing plant in Mozambique and the expansion of mining activities in Zambia. The transaction is expected to enhance Gemfields’ focus on its core gemstone mining business, while SMG Capital plans to leverage Fabergé’s heritage to expand its presence in the global luxury market.

More about Gemfields Group

Gemfields is a leading responsible miner and marketer of colored gemstones, operating significant mines such as the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique. The company is known for its proprietary grading system and auction platform, which have contributed to the growth of the global colored gemstone sector.

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