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Gemfields reports highest auction revenue in five years By Dineo Faku Share JOHANNESBURG - GEMFIELDS, the London-headquartered supplier of coloured gemstones, reported the highest auction revenue in five years from Kagem, its Zambia-based emerald mine. Gemfields, which also operates Montepuez Ruby Mining in Mozambique, said 59 companies had placed bids generating $31.4 million (R445.84m), with an overall average of $115.59 a carat (R1 584.56) during five sequential mini-auctions held between March 15 and April 17. The group said its 37 auctions of emeralds and beryl mined at Kagem since July ...

Gemfields Holds First Ruby Sale Since 2019 RAPAPORT... Gemfields brought in $58.9 million at its first auction of rough rubies in more than a year, expressing optimism as operations at its Mozambique mine gradually resumed. The miner held seven small sales of high-, medium- and commercial-quality goods between March 15 and April 8, noting on Thursday that its last ruby auction had been in December 2019. Viewings took place in Bangkok, Thailand, and in Jaipur, India, as well as in Dubai, followed by submissions of sealed bids through an online platform. Some 52 companies placed offers, with ...

Pope pulls out critical Pemba bishop Total demands 25 km security cordon Corruption  $8.5 mn military fraud Extractive industries  Community rights violated say lawyers  South Africa and electricity Other  Covid-19 Are ruby mine resettled families getting luxury $95,000 houses? Montepuez Ruby Mining (MRM) has now delivered 105 houses for families in the resettlement village of Namanhumbir, built by the mining company, to re-house Nthoro communities previously lining on land given to the mine a decade ago. MRM says it has spent $10 mn for 105 of these houses – $95,000 per house �...