Gold drops below $4,500 as Iran rejects Trump’s ceasefire; Silver slides below $70
March 28, 2026
ALROSA flags lower decline in annual diamond output in 2025
March 30, 2026Gemfields revenue fell 32% to $135 mn in 2025 due to weak demand
Coloured precious stones miner Gemfields said 2025 revenue fell 32% to $135.1 million as operational disruptions and weak demand for rubies and emeralds weighed on performance. Earnings before interest, taxes, depreciation and amortization dropped 85% to $6.2 million from $43.2 million, reflecting reduced production, fewer auctions and softer market conditions, Gemfields said. Seven auctions generated $129 million during the year, as gemstone availability and uneven demand offset resilient limited pricing at the high end.
Operations at the Montepuez ruby mine in Mozambique were hit by persistently low recovery of premium rubies and rising illegal mining activity. Two police officers were killed in October when illegal miners stormed the site. The company also flagged delays to its new $70 million processing plant, with commissioning now expected to run well into the first half of 2026, constraining near-term output despite production beginning last September.At the Kagem emerald mine in Zambia, Gemfields suspended mining from January to May in response to weak auction results, softer global demand — particularly in China — and oversupply from a competing Zambian producer.
CEO Sean Gilbertson described the year as difficult, citing disruptions at both Montepuez and Kagem that constrained production, auction frequency and cash generation. Still, top-quality ruby and emerald prices remained relatively firm, he added
