History

2005

  • Gemfields plc formed and admitted to AIM
  • Mbuva Chibolele & Kamakanga emerald licences acquired in Zambia

2008

  • Acquisition of the Kagem emerald mine, Zambia
  • Gemfields re-admitted to AIM

2009

  • Development of ground-breaking emerald grading and auction system
  • First rough emerald auction (in London, UK, generates sales of US$ 5.9 million)
  • EBITDA loss of US$ 13.5 million and Kagem mine written off in the wake of the financial crisis

2010

  • Focused ‘mine-and-market’ strategy replaces full vertical integration
  • Significant capital invested into Kagem emerald mine
  • Maiden positive EBITDA of US$ 1.8 million

2011

  • Record annual emerald and beryl production of 33 million carats
  • Launch of first global emerald marketing campaign
  • EBITDA of US$ 22.3 million from revenues of US$ 40.2 million

2012

  • Record auction sales of US$ 77.8 million
  • EBITDA of US$ 54 million from revenues of US$ 83.7 million
  • Acquisition of the Montepuez ru4by deposit, Mozambique
  • 20 year ‘life-of-mine’ feasibility study completed at Kagem, with revaluation at more than US$ 300 million

2013

  • Acquisition of the Fabergé brand
  • Production at Kagem emerald mine increased by 42% to 30 million carats
  • Three million injury-free shifts and zero LTIFR achieved since taking operational control at Kagem in 2009
  • 1.8 million carats of ruby and corundum extracted from Montepuez bulk sampling operations
  • Appointment of Mila Kunis as Gemfields’ global brand ambassador
  • EBITDA of US$ 1.2 million from revenues of US$ 48.4 million (a key emerald auction was moved from Singapore to Lusaka at the request of the Zambian Government, meaning the auction missed the year-end)

2014

  • Record average per-carat price achieved for a Kagem auction of higher-quality rough emeralds (US$ 59.31 per carat)
  • Kagem paid its first ever dividend (US$ 8 million)
  • First-of-a-kind grading and sorting framework for rough rubies completed
  • First auction of rough ruby and corundum held in Singapore generated US$ 33.5 million
  • The second ruby auction held in Singapore generated revenues of US$ 43.3 million - the highest ever achieved at any Gemfields auction
  • Gemfields acquired 75% operating interests in 16 exploration licenses in Sri Lanka, in order to progress opportunities in the Sri Lankan sapphire and gemstone sector
  • ​Record breaking average of US $ 668.4 per carat higher quality rubies achieved in December 2014

2015 

  • The ‘Eyes of the Dragon’ – A rare matching pair of rubies totalling 45 carats discovered and sold at auction
  • Maiden Resource & Reserve Statement produced by SRK consulting forecasts production of 432 million carats for MRM over 21 years
  • 30.1 million produced at Kagem- an increase of 49% from 2014
  • Gemfields committed at least 1% of gross sales at Kagem and at Montepuez to corporate responsibility and sustainability projects.
  • In May 2015 the Mines Safety Department of Zambia awarded Kagem with a safety certificate of 3.5 million reportable injury free shifts
  • Fabergé won the 'Ladies High-Mechanical' category at the Grand Prix d'Horlogerie de Geneva (GPHG) awards in October 2015, the Swiss watchmaking industry's highest honour, for its 'Lady Compliquée Peacock Timepiece

 2016

  • Revenue of US $101.2 million with record $70.68 per carat price achieved at higher quality auction
  • 68% increase in higher quality rubies recovered
  • The 'Lady Peacock Emerald' variant of the Lady Compliquée peacock timepieces also won the 'Ladies Complication' award at Watchfair Luxemborg in June 2016
  • Emeralds, Ethiopia- A diamond drilling crew was mobilised at Dogogo South Block, Ethiopia, in June 2016 and drilling commenced in July 2016
  • Sapphires, Srilanka- Trading centres established in Colombo and Ratnapura
  • Emeralds, Colombia-Gemfields expanded the size of its operating team and in-country footprint with further groundwork being undertaken