Gemfields suspends Kagem mining for up to six months
Group cuts back on expenses and development as sales of rubies and emeralds fall
23 December 2024 - 11:42
Ruby and emerald miner Gemfields’ share price fell almost 10% on Monday after it announced strategic actions, including suspending for about six months all mining at Kagem Mining, its Zambian emerald mine.
Sales of its stones have fallen. Its most recent auctions brought in $16.1m for emeralds and $46.2m for rubies, materially less than in recent years...
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