Gemfields Group listed on London’s AIM stock exchange
Of the circa USD 1.2 billion of total auction revenue from 2009 – 2020 (across both Kagem and MRM), Gemfields pays some USD 251 million (20.4% of revenue) in corporation tax and mineral royalty to the governments of Mozambique and Zambia. For the first time, these countries are receiving proper participation in their coloured gemstone resources
30 December 2019
Kagem renews emerald mining licence for 25 more years to April 2045
Emerald auction of higher quality rough emeralds, held in Singapore from 18‐21 November, generates revenues of USD 27.2 million, a record average price of USD 85.26 per carat and sold 88% of carats offered
A surge in interest from China in African coloured gemstones sees the first Chinese customer successfully win a schedule of 117,500 carats of Zambian emeralds at Gemfields’ commercial auction in Lusaka
It also saw a cohort of Chinese business professionals visiting Gemfields mines in both Zambia and Mozambique and a new partnership between Gemfields and the GUILD Institute of Gemology to present a series of masterclasses across China
Kagem meets production targets to secure monthly bonuses for all staff for 22 months straight
23 August 2019
Emerald auction of commercial quality rough emeralds, held in Lusaka, Zambia from 19-22 August, generates revenues of USD 18.6 million, an average price of USD 4.75 per carat and sold 37% of carats offered
Emerald auction of commercial quality rough emeralds, held in Lusaka, Zambia from 18-20 February, generates revenues of USD 10.8 million, an average price of USD 4.39 per carat and sold 59% of carats offered.
Gemfields settles human rights allegations with no admission of liability
Gemfields fully expected to prevail at trial, had it chosen to do so. Read the full statement here.
Pallinghurst Resources changes its name to Gemfields Group
Faberge becomes a certificated member of the Responsible Jewellery Council
Gemfields is awarded membership of the Voluntary Principles on Security and Human Rights (VPSHR), a unique achievement for a company of our size
2016 TO 2018
Gemfields makes a one-off donation of USD 25,000 to Zambian Carnivore Programme’s conservation and anti-poaching initiatives, which include projects in the nearby Kafue and South Luangwa national parks, home to large numbers of lions, cheetahs and wild dogs.
Emerald auction of commercial quality rough emeralds, held from 30 July-2 August in Lusaka, Zambia, generates revenues of USD 10.89 million, an average price of USD 4.21 per carat and sold 90% of carats offered
The Web Gemstone Mining operations in Ethiopia is overrun by 400-500 people who force the team to evacuate
The following month, the mine is looted and as many as 1,200 illegal miners extract emeralds. In the year that follows, many illegal miners abandon the site, finding emerald extraction too challenging manually, but reports suggest around 100 remain
5 June 2018
Ruby auction of rough rubies, held from 5-9 June in Singapore, generates record revenues of USD 71.8 million, a record average price of USD 122 per carat for mixed quality ruby auctions and sold 93% of carats offered
The second mobile health clinic in Mozambique is introduced
It serves 10 of the villages in and around MRM’s concession and provides screenings for diseases, vaccinations, a deworming programme for children, vitamin A supplementation and prenatal and nutritional consultations. Nurses can administer basic health care, provide prescriptions and make referrals to other doctors or the hospital
TV host and style blogger Louise Roe wears Fabergé ruby marquise and cushion cut rings, paired with elegant Seraphina Wing earrings featuring Gemfields Mozambican rubies by GFG Jewellery to report from the Oscars red carpet
Emerald auction of commercial quality rough emeralds, held in Jaipur, India from 19-22 February, generates revenues of USD 10.8 million, with 31 companies placing bids, and sold 95% of carats offered at an average price of USD 3.05 per carat
Gemfields investigates illegal mining in Mozambique and uncovers modern-day slavery
2016 to 2017
Gemfields makes a one-off donation of USD 75,000 to Mozambique’s Niassa Carnivore Project to support wildlife conservation and efforts to stem the problem of poaching by developing alternative livelihoods for local communities
Ruby auction of rough rubies, held from 6-10 November in Singapore, generates record revenues of USD 54.96 million, an average price of USD 90.81 per carat and sold 89% of carats offered and 71 of the 76 lots available
Emerald auction of higher quality rough emeralds, held in Lusaka, Zambia from 2-5 October, generates revenues of USD 21.5 million, an average price of USD 66.21 per carat and sold 100% of carats offered
Kagem Mining’s construction and rehabilitation of Chapula Secondary School in Zambia is creating opportunities for young people to receive secondary-level education, marking an important milestone in the district
Pupils from Chapula Secondary School, which was constructed by Kagem in the Lufwanyama District, are invited to visit the Kagem emerald mine as part of an initiative to bring a better understanding of the gemstone industry to the members of the community in which it operates
A company restructuring sees Gemfields come under ownership of Pallinghurst Resources Limited
MRM is recognised as having the best Social Responsibility practices by the government of Cabo Delgado
1 January 2017
MRM partners with more than 400 farmers in different villages across seven associations, providing them with training and financial support to help move them away from subsistence farming to a more sustainable conservation technique, which will contribute to food security
Gemfields sponsors IMG’s New York Fashion Week: The Shows and joins forces with WME|IMG to develop a multi-platform campaign with digital, social and event activation elements to reimagine luxury gemstones and the juxtaposition between fashion and jewellery
Rough emerald and amethyst auction of higher quality rough emeralds and amethyst, held from 31 August-4 September in Singapore, generates emerald auction revenues of USD 34.7 million and an average realised price of USD 58.42 per carat
Amethyst auction revenues totalled USD 0.44 million with an average realised price of 4.32 US cents per carat.
Kagem’s USD 345,000 industry training initiative sponsors 12 students from the geological and mining engineering departments at the School of Mines at the University of Zambia (UNZA) and Copperbelt University (CBU) over a period of eight years
Six students have been selected so far for the programme, which aims to close the gap between technical and theoretical training and mining requirements to produce industry-orientated graduates.
Ruby auction of higher quality rough rubies, held from 16-21 June in Singapore, generates revenues of USD 29.3 million, an average price of USD 617 per carat and sold 66% of carats offered by weight and 87% by market value
Ruby auction of predominantly lower quality rough rubies and corundum, held from 17-22 April in Jaipur, India, generates revenues of USD 16.1 million, an average realised price of USD 4.03 per carat and sold 99% of carats offered
Rough emerald, beryl and amethyst auction of predominantly lower quality rough emerald and beryl, and higher quality amethyst from Kariba Minerals Ltd, in which Gemfields has a 50% interest, is held in Lusaka, Zambia from 24-27 February
It generates emerald and beryl auction revenues of USD 14.5 million, an average realised price of USD 3.72 per carat and sold 39% of carats offered. The amethyst auction generates revenues of USD 0.45 million, an average realised price of 1.77 US cents per carat and sold 25.2 million of the 27.7 million carats offered.
Ruby auction of predominantly higher quality rough rubies, held from 3-8 December in Singapore, generates record revenues of USD 43.3 million, a record average realised price of USD 689 per carat and sold 74% of carats offered
Rough emerald and beryl auction of predominantly higher quality rough emeralds, held from 13-17 November in Lusaka, Zambia, generates record auction revenues of USD 34.9 million and an average realised price of USD 65.89 per carat – a new record for higher quality auctions
Rough emerald and beryl auction of predominantly lower quality rough emeralds and beryl, held from 5-8 August in Lusaka, Zambia, generates auction revenues of USD 15.5 million and sold 11.6 million carats of the 12.1 million offered
Every auction result is voluntarily made public to ensure full transparency and accountability as to the prices being achieved for Mozambique’s resources. Proceedings of every auction are also monitored by government representatives – an approach which Gemfields voluntarily pioneered.
6 May 2014
Emerald auction of Zambian and Brazilian emeralds obtained by Gemfields in the open market from various sources, held from 28 April-2 May in Jaipur, India, generates revenues of USD 13.5 million, an average realised price of USD 50 per carat and sold 21 of 41 lots
Rough emerald and beryl auction of predominantly higher quality rough emeralds and beryl, held from 21-25 February in Lusaka, Zambia, generates record auction revenues of USD 36.5 million and an average per carat price of USD 59.31 – a 10% increase on the previous Kagem auction
Record average per-carat price (USD 59.31) is achieved for a Kagem auction of higher-quality rough emeralds
MRM is recognised as the largest taxpayer in the Cabo Delgado province for the year
First of its kind grading and sorting framework for rough rubies is completed
Chapula Primary School opens
The exceptional 40.23 carat rough 'Rhino' ruby from Montepuez is sold at auction
3 November 2013
Rough emerald and beryl auction of predominantly lower quality rough emeralds and beryl, held from 11-15 November in Lusaka, generates auction revenues of USD 16.4 million and an average per carat price of USD 3.32, a 27% increase on the previous record achieved at a lower grade auction
Emerald auction of predominantly higher quality rough emeralds obtained by Gemfields in the open market from various sources, held in Jaipur from 26-30 September, generates gross auction revenues of USD 8.5 million and an average realised price of USD 58 per carat – the highest average price achieved at any Gemfields auction
Rough emerald and beryl auction of predominantly higher quality rough emeralds and beryl, held from 15-19 July in Lusaka, generates auction revenues of USD 31.5 million and a record average per carat price of USD 54
Actress Mila Kunis becomes Gemfields’ global brand ambassador
6 November 2012
Rough emerald and beryl auction of predominantly higher quality rough emeralds and beryl, held from 29 October-2 November in Singapore, generates auction revenues of USD 26.8 million with 97% of carats offered sold
Rough emerald and beryl auction of predominantly lower quality rough emeralds and beryl, held from 9-13 June in Jaipur, India, generates auction revenues of USD 9.0 million with 3.47 million carats sold
Emerald auction of predominantly medium to higher quality rough emeralds, held from 19-23 March in Singapore, generates revenues of USD 26.2 million, a 46% increase over the 15-month period in achievable quality-for-quality per carat prices
The application to convert Mwiriti’s ruby prospecting licences to mining licences for MRM is approved
Kagem Mining provides ongoing support to chiefdoms and the construction of houses for customary traditional chiefs
It has invested around USD 80,000 in the rehabilitation of the 18.7km road connecting Chief Nkana and Chief Lumpuma’s chiefdoms, from Kandole to Kafwaya village in Lufwanyama district, which has improved the transport of goods to market, made it easier for pupils and teachers to get to school and cut travel times by half for people in the communities.
Gemfields acquires the Montepuez ruby deposit in Mozambique
Josephine Skriver features in Gemfields campaign
2010 to 2011
Gemfields hand picks 10 leading jewellers from around India to create one-of-a-kind pieces, incorporating Zambian emeralds, for the Emeralds for Elephants Collection, in collaboration with Jaguar Land Rover and the Gemological Institute of America (GIA India).
The collection raises a staggering total of USD 750,000, with USD 150,000 going to the World Land Trust and Wildlife Trust of India’s conservation projects in India.
Rough emerald and beryl auction of predominantly lower quality rough emeralds and beryl, held from 21-25 November in Jaipur, India, generates record auction revenues of USD 11 million, a 46% increase in quality-for-quality per carat prices since March 2011
Gemfields and Mwiriti sign a joint venture agreement
17 March 2011
Rough emerald and beryl auction of predominantly lower quality rough emeralds and beryl, held from 10-14 March in Jaipur, India, generates second-highest total auction revenues of USD 9.9 million, a 148% increase in quality-for-quality per carat prices since March 2010
Record annual emerald and beryl production of 33 million carats
The launch of our first global emerald marketing campaign
17 March 2010
Emerald auction of low-quality emerald and beryl, held in Jaipur, India from 11-15 March, generates sales of USD 7.2 million, with 89% (by value) of material sold, which is believed to be a world record in terms of the volume of Zambian emerald and beryl on offer by weight
Zambian emeralds from Gemfields’ Kagem mine are worn by Morgan Freeman at the Academy Awards in bespoke Nelson Mandela “46664” bracelets.
Gemfields introduces its proprietary auction process, bringing consistency and transparency to a previously chaotic system
It transforms the value that accrues to our host countries.
Gemfields acquires the Kagem mine in partnership with the Government of the Republic of Zambia through the Industrial Development Corporation (IDC)
The Gemfields Group buys up the Fabergé trademarks, licenses and associated rights related to the name, reversing the fragmentation of the brand over the past 90 years, and reinstates connections with the Fabergé family
Mwiriti holds a registered hunting concession over the Montepuez area
A geological map published by Dr Bernard Bingen of the Geological Survey of Norway shows the presence of corundum at Namahaca
Namahaca lies outside the MRM licence and artisanal mining still takes place there, and in several other areas.
Gemfields Plc formed and admitted to AIM
Mbuva Chibolele and Kamakanga emerald licences are acquired in Zambia
The presence of corundum (of which ruby is a variety) is confirmed by Noard of Norway at Namahaca
The primary source of rubies, original rock formation, has been undisturbed since its formation some 500 million years ago
Circa 500-million-year-old intruding pegmatite comes together with TMS to form rare Zambian emeralds, among the oldest on earth.
The chemical interaction brought about a soft, thin black reaction zone where the emerald fluids collected and were allowed to crystallise, over many millions of years, into a unique hexagonal shape. The metamorphic TMS provided the trace element-chromium that results in the rich and saturated green colour.
The 1.6 billion-year-old high-grade metamorphic rock named the Talc Magnetite Schist (TMS) is formed (emeralds)