Gemfields Group Limited has released its unaudited operational update for the six months ended June 30, 2026, reporting total auction revenues of $ 102.9 million, compared with $ 60 million during the corresponding period in 2025. The figures cover the Group’s 75%-owned Kagem emerald mine in Zambia and Montepuez Ruby Mining (MRM) ruby mine in Mozambique.
The company reported a net debt position of $ 44.2 million as of 30 June 2026, before auction receivables of $ 33.3 million. Gemfields stated that detailed commentary on its operational performance and financial results will be included in its interim results scheduled for publication on September 25, 2026.
At Montepuez Ruby Mining, the recovery of premium-grade rubies remained weak during the first half of the year, at 0.025 carats per tonne. The company said it continues to focus mining activities on areas expected to contain higher-grade material to improve recovery outcomes.
Gemfields also reported that MRM’s second processing plant made a meaningful contribution to production volumes during the first half of 2026 and is expected to be fully commissioned later this year.
At Kagem Mining, premium emerald production remained healthy during the reporting period. However, the company said operating costs were affected by higher fuel prices, exchange rate pressures and increased mining activity.
MRM continued to experience weak premium grade ruby recovery, at 0.025 carats per tonne in the six-months to June 30, 2026. The Company continues to focus mining activities on areas believed to contain higher-grade material, with the aim of improving grade outcomes.
Kagem maintained healthy premium emerald production during the first half, while higher fuel prices, exchange rate pressures and increased mining activity impacted operating costs.
Gemfields advised shareholders that all figures contained in the operational update are unaudited and that the directors assume full responsibility for the reported information.
