Gemfields eased emerald Q3 output, ruby remains flat

Gemfields said the output of emerald and beryl eased 3.1 percent year on year to 6.3 million carats in the third quarter that ended on September 30.  
It said in a statement that production of ruby and corundum remained flat at 2.9 million carats during the period under consideration. The company operates the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique.
“Gemfields enjoyed a solid quarter of gemstone production, notwithstanding lower grades, than those in the same quarter last year,” said company chief executive Ian Harebottle.
“Market conditions remain upbeat with ongoing enthusiasm from the trade, retailers and consumers for responsibly supplied colored gemstones. We’ve been pleased to see new world records - on a per carat basis - achieved by both sapphires and rubies at recent auctions held by Sotheby’s in Hong Kong and Geneva.”
Gemfields raked in $15.5 million from 11.58 million carats of mainly lower-quality goods sold at an emerald auction last August.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished