Gemfields swings to a loss on PGM investment writedown, but gemstone business flourishes

Gemstone miner Gemfields has recorded its second highest yearly revenues in 2023, on the back of record prices being paid for its rough coloured gemstones sold at auction. Gemfields CEO Sean Gilbertson notes, however, that production of premium rough gemstones has been weaker at its two key operating assets – the Kagem emerald mine in Zambia, and Montepuez Ruby Mining (MRM) in Mozambique – compared with 2022.