CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
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
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
WatchesNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
Weekly QuizNov 06, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
Brought to you by
Jewelers of America Aligns New Mission to Create Meaningful Impact for MembersFrom educational programs, advocacy, and recent MJSA affiliation, Jewelers of America drives progress that elevates businesses of all sizes.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
EditorsNov 07, 2025
Piece of the Week: An MVP’s Sapphire Tennis Necklace At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.
IndependentsNov 07, 2025
Foundrae’s New Palm Beach Location Is a ‘Golden Solarium’The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.
FinancialsNov 07, 2025
Watches of Switzerland’s H1 Sales Up 8%The retailer also shared an update on the impact of tariffs on watch customers.
SourcingNov 06, 2025
Pink Tourmaline Bracelet, Emerald Suite Take Top Spectrum Honors Pink and purple stones were popular in the AGTA’s design competition this year, as were cameos and ocean themes.
IndependentsNov 06, 2025
Greenwich St. Jewelers Hosts Raffle Supporting Food RescueAll proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.
IndependentsNov 06, 2025
Cornell’s Jewelers Names New PresidentCourtney Cornell is part of the third generation to lead the Rochester, New York-based jeweler.
SourcingNov 06, 2025
De Beers’ Production, Sales Increase in Q3 De Beers also announced more changes in its upper ranks ahead of parent company Anglo American’s pending sale of the company.
WatchesNov 05, 2025
Shinola President Steps Down Just as He Starts Former Signet CEO Mark Light will remain president of Shinola until a replacement for Ulrich Wohn is found.
AuctionsNov 05, 2025
Taylor Swift’s Engagement Ring Designer Makes Her Auction DebutKindred Lubeck of Artifex has three rings she designed with Anup Jogani in Sotheby’s upcoming Gem Drop sale.
FinancialsNov 05, 2025
Pandora Posts Modest Q3 Sales Growth Amid ‘Weak’ Consumer Sentiment The company focused on marketing in the third quarter and introduced two new charm collections, “Pandora Talisman” and “Pandora Minis.”
FinancialsNov 05, 2025
Brilliant Earth’s Q3 Sales Climb 10%The jewelry retailer raised its full-year guidance, with CFO Jeff Kuo describing the company as “very well positioned” for the holidays.
Policies & IssuesNov 04, 2025
Supreme Court to Hear Tariffs Case WednesdayAhead of the hearing, two industry organizations co-signed an amicus brief urging the court to declare Trump’s tariffs unlawful.
MajorsNov 04, 2025
Danny Clark to Become Stuller CEO, Succeeding Matt StullerStuller COO Belit Myers will take on the additional role of president, with all changes effective at the start of 2026.
ColumnistsNov 04, 2025
Peter Smith: What Do Birds Have to Do With the Price of Gold? Smith cautions retailers against expending too much energy on things they can’t control, like the rising price of gold.
TrendsNov 04, 2025
Amanda’s Style File: Fall Colors for November BirthdaysCitrine and topaz are birthstones fit for fall as the leaves change color and the holiday season approaches.
IndependentsNov 04, 2025
Weston Jewelers Heads to Fort LauderdaleThe family-owned jeweler will open its fourth store in Florida in late 2027.
CrimeNov 03, 2025
Men Dressed as Construction Workers Burglarize Jeweler’s Home The NYPD is looking for three men who stole a safe and jewelry valued at $3.2 million from the home of a jeweler in Jamaica Hills, Queens.
MajorsNov 03, 2025
Matthew Rosenheim Takes Over as JA Board ChairThe trade organization also announced its executive committee and five new directors.
