EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
OtherNov 10, 2013
Sales, profits fall in fiscal 2013 for Gemfields
Colored gemstone miner Gemfields PLC saw both sales and profits decline this fiscal year, a year in which it held one less auction due to its issues with the Zambian government.
London--Colored gemstone miner Gemfields PLC saw both sales and profits decline this fiscal year, a year in which it held one less auction due to its issues with the Zambian government.
According to the company’s recently released year-end report, Gemfields recorded revenues of $48.4 million in its fiscal year ended June 30, 2013, down 42 percent from $83.7 million in fiscal 2012.
The company reported a net loss of $22.8 million, a drastic drop from a profit of $161.5 million in fiscal 2012.
Gemfields’ results were adversely affected by discussions between the company and the Zambian government regarding the proposed ban on the auctioning of emeralds outside of the country.
In the second half of the year, the Government of the Republic of Zambia asked Gemfields to host its auctions in the country rather than abroad, resulting in the disruption of its auction schedule.
Gemfields was only able to hold two auctions during the year, rather than the planned three, with the company noting that revenues from the third auction now will be counted in fiscal year 2014.
Annual production of emerald and beryl from the company’s main asset, the Kagem mine, was 30 million carats during the period, up 42 percent from the 21.1 million carats produced in 2012.
Fiscal 2013 was the first year the Montepuez ruby deposit was in operation for Gemfields, and the company reports that approximately 1.8 million carats of ruby were extracted during the year. Gemfields said it expects to hold its first ruby auction before June 30, 2014.
Meanwhile, Gemfields and ZCCM-IH, its partner in Kariba Mineral Limited, invested $1.25 million each into the Kariba mine, allowing for the purchase of mining and processing equipment for amethyst operations with a view to doubling monthly revenue in 2014.
“In tandem with the growth in production this year, Gemfields’ reputation as the leading producer, marketer and distributor of high-quality rough gems has developed apace, with ever-increasing consumer appetite for our ethically sourced and consistently supplied colored gemstones,” said Graham Marshall, non-executive chairman.
“The record (average) auction price of $54 per carat achieved at our July 2013 emerald auction in Zambia (just three weeks after the close of this reporting period) clearly illustrates the increased demand and other benefits we continue to derive from our global marketing campaigns.”
During the 2013 fiscal year, Gemfields completed its acquisition of Fabergé, the fine jewelry
Editors' Picks
Sponsored by
house founded in Russia in the 1800s, expanding its reach across the colored gemstone market.
Fabergé achieved record revenues, margins and unit sales during the fiscal year, Gemfields said.
Fabergé achieved record revenues, margins and unit sales during the fiscal year, Gemfields said.
The jewelry house also debuted a new colored gemstone-focused advertising campaign. Called “The Art of Color,” the campaign launched on a global level in October, with ads running in Vogue, Harper’s Bazaar, W and Vanity Fair, among other publications.
In addition, Gemfields made a major investment in marketing, naming television and movie actress Mila Kunis as its global brand ambassador in February. Kunis became the face of the company’s multi-faceted rare colored gemstones advertising campaign.
Looking ahead to the future, Gemfields has noted that the company’s growth opportunities are currently focused on sapphire prospects, with a number of other gemstone opportunities also being evaluated.
More on Other
The Latest
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
