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Gemfields Group Ltd on Tuesday said its annual loss narrowed despite a ‘difficult’ 2025. The London-based miner and marketer of coloured gemstones guided for loss per share of 2.6 US cents in 2025, narrowed from 7.0 cents in 2024. It estimated its headline loss per share at 1.3 cents, reduced from 2.1 cents. In a trading statement, Gemfields said it had been a ‘difficult’ year. The operational interruptions at both Montepuez Ruby Mining Ltda in Mozambique and the Kagem emerald mine in Zambia weighed on output and cash generation, Gemfields said. The delays to Montepuez’s second processing plant, combined with high levels of illegal mining and grade volatility, restricted premium ruby production and disrupted the group’s auction cadence. While it has been producing rubies since September 2025, the delay in the final commissioning of the plant is expected to continue well into the first half of 2026, the company said. Gemfields said it had mixed auction outcomes in 2025, holding seven auctions realising only $129 million, down 34% from $195.9 million in 2024. ‘While overall sentiment was fragile and volatility persisted, we have been encouraged by improved pricing throughout the year for high-quality emeralds and rubies,’ it said. Gemfields said the escalating conflict in the Middle East added further uncertainty to global energy markets, noting that it is too early to quantify any potential cost impact on its operations. The company intends to release its full annual results on March 26. In London early Tuesday, Gemfields shares were up 1.5% to 5.00 pence, while they were up 0.9% to R 1.17 in Johannesburg. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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