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  • Emeralds from the Kagem mine. (Gemfields)

Gemfields Reports Record Revenues

Gemfields reported $181.2 million in total auction revenues for the six months ended 30 June, 2022 with all three auctions held in the period breaking previous records.


The company owns and operates 75 percent of both the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique. It also holds controlling interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique, Ethiopia and Madagascar.


Gemfields held online auctions of Kagem emeralds from 15 March to 1 April and during 9-26 May, 2022, which generated $42.3 million and $43.3 million respectively. Its Montepuez rubies were sold via online events from 30 May to 17 June, raising $95.6 million.


Total auction revenues for the 12 months ending 30 June, 2022 reached an all-time high of $330.3 million, according to Gemfields.



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