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Gemfields Emerald Production Slumps
Feb 14, 2017 2:43 AM
By Rapaport News
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RAPAPORT... Gemfields said production of emerald and beryl dropped 43
percent in the final three months of last year as the company mined a
lower-grade zone of its Kagem deposit in Zambia.
Output fell to 4.7 million carats in the second quarter of
fiscal 2017 that ended December 31, the miner reported. Similarly, production
of ruby and corundum at the company’s Montepuez mine in Mozambique dived 31
percent to 1.1 million carats, also due to a lower grade of ore.
Meanwhile,
Gemfields said sales orders of its Fabergé retail
brand jumped 95 percent during the quarter, while the average selling price
climbed up 12 percent.
In the first half of the current fiscal year, production of
emerald and beryl slid 32 percent to 10.7 million carats. Output of ruby and
corundum more than doubled to 5.6 million carats from 2.1 million carats a year
ago.
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Tags:
beryl, colored gemstones, corundum, emerald, Gemfields, gemstones, Kagem, mining, Montepuez, Mozambique, Rapaport News, ruby, zambia
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