Final week, De Beers — the world’s largest diamond producer by worth — revealed it was contemplating as soon as once more reducing output because of weak demand from high client China.
Gemfields, which has a 75% stake within the Montepuez ruby mine in Mozambique, mentioned building of a second plant on the operation stays on funds and on observe for completion by finish of the primary half of subsequent yr.
The gems miner, which additionally has a 75% stake within the Kagem emerald mine in Zambia, mentioned the asset’s wash plant improve is full and working at an elevated processing price.
Gemfields plans to conduct a high-quality emerald public sale within the third quarter this yr, after which comply with it with one other high-quality emerald public sale and a mixed-quality ruby public sale within the fourth quarter.
It mentioned that commentary on the operational efficiency and monetary outcomes shall be out there in its interim outcomes because of be printed on September 27.