Gemfields to Resume Open-Pit Mining at Kagem for Premium Emeralds

Gemfields Group ( (PLLHF) ) just unveiled an update.

Gemfields Group Limited has announced that Kagem Mining Limited, its emerald mine in Zambia, will resume focused open-pit mining to recover premium emeralds. This decision follows a period of suspended mining to process existing ore stockpiles, which yielded fewer high-quality emeralds than expected. Recent successful auction results have boosted management’s confidence in the emerald market, prompting the recommencement of mining at key production points in the Chama pit. The company will continue to assess full-scale mining based on market conditions.

More about Gemfields Group

Gemfields is a leading responsible miner and marketer of colored gemstones, operating the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique. The company also owns Fabergé, enhancing its market positioning and consumer awareness of colored gemstones. Gemfields has developed a proprietary grading system and auction platform to ensure a consistent supply to downstream markets, contributing to the growth of the global colored gemstone sector.

Average Trading Volume: 1,173,342

Technical Sentiment Signal: Sell

Current Market Cap: £49.48M

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