Gemfields’ Q2 emerald output nearly halves

Production of emerald and beryl at Aim-listed Gemfields’ 75%-owned Kagem mine, in Zambia, nearly halved to 4.7-million carats in the three months to December 31, compared with the 8.2-million carats produced in the three months to December 2015. CEO Ian Harebottle said the mine experienced a mixed second-quarter with lower production volumes, as a result of the varied nature of the mineralisation at the deposit, which was offset to some extent by the efforts of the operating team on site. Meanwhile, Gemfields’ 75%-owned Montepuez ruby mine, in Mozambique, continued to deliver strong results, with a significant increase in ore processed relative to the prior comparable period as a result of improved operational efficiencies.