Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design AtelierDiscover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.
OtherSep 24, 2014
Revenue, profit up for Gemfields in fiscal 2014
Both revenue and profits increased this past fiscal year for Gemfields Plc, which saw the company push into the black as it began selling rubies for the first time.
London--Both revenue and profits increased this past fiscal year for Gemfields Plc, which saw the company push into the black as it began selling rubies for the first time.
The colored gemstone miner reported Monday that revenue hit $160.1 million in its fiscal year ended June 30, up from $48.4 million in the prior-year period.
Gemfields recorded profits of $16.3 million in the 12-month period, a drastic increase from the net loss of $22.8 million it saw in fiscal 2013.
Annual production of emerald and beryl from the company’s main asset, the Kagem mine in Zambia, was 20.2 million carats, down 33 percent from the 30 million carats extracted last year. The company said that this decrease was due to high amounts of rainfall, grade volatility and delays in the next phase of the program to expand the pit size.
Three auctions of emerald and beryl mined at Kagem, two of higher-quality and one of lower-quality rough, were held in Lusaka, Zambia, during the year, generating revenues of $84.4 million.
Traded rough emerald auctions for gems not mined by the company were held in Jaipur, India, in September 2013 and May 2014, generating revenue of $22 million.
Total ruby and corundum extracted from the Montepuez mine in Mozambique, meanwhile, was 6.5 million carats. Gemfields held its first auction featuring the gemstones from that mine in June 2014, realizing $33.5 million and an average per-carat price of $18.43.
RELATED CONTENT: Gemfields’ first ruby auction nets $34M
The auction was 91 percent sold by value and 90 percent sold by volume. Gemfields attributed its success in part to the development of a “first-of-its-kind” comprehensive grading and sorting system that Gemfields developed for rough rubies, which was based on the proprietary rough emerald grading system used at the company’s Kagem emerald mine in Zambia.
The miner said that the next auction of ruby and corundum is scheduled to take place before the end of calendar year 2014.
Meanwhile, Gemfields also recently infused a $2.5 million investment into its Kariba mine to significantly increase production of amethyst and just announced it has acquired an interest in a Sri Lankan company to mine sapphires there.
Fine jewelry house Fabergé, which is 100 percent owned by Gemfields, saw increased unit sales and a 12 percent relative increase in gross profit margins from sales and sales orders during the 12-month period.
The brand
also saw a number of new developments during the fiscal year. Fabergé restructured its operations, implemented a global strategic plan and launched a new advertising campaign called “The Art of Colour.”
Fabergé also exhibited at Baselworld and, in New York, completed its Big Egg Hunt this spring, raising $2.7 million for the “Elephant Family” and “Studio In A School” charities.
Gemfields CEO Ian Harebottle said, “The Kagem emerald mine in Zambia continues to be our cornerstone asset and the fact that Kagem is now a fully tax paying entity (and has distributed its first ever dividends to our partners, the Government of the Republic of Zambia), validates the investment, turnaround and growth initiatives initiated when Gemfields acquired 75 percent of Kagem in June 2008. We are very grateful to our dedicated and hard-working team and remain tremendously excited about our expanding global portfolio of emeralds, rubies and sapphires.”
More on Other
The Latest
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las VegasThe “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry BusinessWhen investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.
MajorsJun 05, 2025
Platinum Guild International Updates Leadership TeamTwo existing executives have been given new roles.
Weekly QuizJun 05, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship RecipientMeredith Tiderington, an electrical engineering student, was selected for the award.
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown DiamondsIt will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 SessionsFrom design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.Her new role is director of strategic initiatives.
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into GoldThe designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.
FinancialsJun 03, 2025
Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.
SurveysJun 03, 2025
Consumer Confidence Improves in May The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand AmbassadorThe actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade ReportsThe company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat RubyThe large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.
GradingJun 02, 2025
GSI Opens New Lab in Thailand Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June Those born in June have a myriad of options for their birthstone jewelry.
SourcingJun 02, 2025
David Allouche Joins Grandview Klein DiamondsThe diamond industry veteran has been named its senior sales executive.
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment The company plans to raise the prices of select watches to offset the impact of tariffs.
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat EmeraldIt was featured in the miner’s latest sale, which brought in $24.8 million.
