Rise in Fiscal Year Revenues For Gemfields as Profits Jump

(IDEX Online) – Gemfields posted revenues of $193.1 million in the fiscal year which ended on June 30 compared with $171.4 million in previous year.

The mining firm reported that post-tax profit was $23.5 million compared with $12.3 million in the previous fiscal year.

Output of rough emerald and beryl from the Kagem mine in Zambia was almost unchanged at 30.0 million carats compared with 30.1 million carats previously. The mining firm reported a record price per carat of $70.68 achieved.

Meanwhile, the Montepuez mine in Mozambique produced 10.3 million carats of rough ruby and corundum compared with 8.4 million carats last year. It reported a 68% jump in output of higher quality rough rubies.