Gemfields plc has announced its unaudited operational and financial results for the six months ending 30 June 2026, highlighting significant growth in auction revenues and ongoing efforts to optimize mining performance at its key sites.
The update covers Gemfields’ 75%-owned emerald mine, Kagem Mining, and ruby mine, Montepuez Ruby Mining (MRM).
Key highlights
- Total auction revenues surged to US$102.9 million for H1 2026, compared to US$60 million in the same period last year.
- As of 30 June 2026, the Company held a net debt position of US$44.2 million, excluding auction receivables of US$33.3 million.
- MRM experienced continued challenges with premium grade ruby recovery, averaging 0.025 carats per tonne during the period. Mining efforts are focused on higher-grade areas to improve yield, supported by increased production from MRM’s second processing plant, expected to be fully commissioned later in the year.
- Kagem sustained healthy premium emerald output despite pressures from rising fuel prices, currency exchange fluctuations, and intensified mining activity, which impacted operating costs.
The Company’s management remains committed to enhancing operational efficiency and resource quality, prioritizing areas with higher-grade material to maximize returns.
Gemfields’ full commentary and audited interim results will be published on Friday, 25 September 2026, providing shareholders and stakeholders with comprehensive insight into the Company’s performance.
Note: All figures presented in this operational update are unaudited, with the directors assuming full responsibility for their accuracy.
