Gemfields is considering plans to open a rough gemstone trading business, in Kitwe, Zambia, as well as establish a trial cutting facility at its Kagem mine, also in Zambia to determine the feasibility of local beneficiation.
Company chairperson, Graham Mascall said in an interim report that the gemstone-miner had narrowed its loss in the six months ended December 31 to GBP6.4 million ($9.5 million) compared with a loss of GBP186.6 million ($278.2 million) in the first half of the previous financial year.
He said revenues from emerald sales went up by GBP12.1million ($18 million) compared with GBP344,000 ($513,000) the year before, despite its total emerald and beryl production having declined by 47 percent to 7.82 million carats, compared with 14.7 million carats the year before.
However, emerald production at Kagem, the company’s only producing gemstone mine, had dropped by 46 percent, due to a 28 percent decline in the grade, as well as a 28 percent decline in the ore mined.
Mascall said Gemfields to continue expanding the underground mining operations at by including new target sites, while also expanding the opencast mining activities to new target sites.
Mathew Nyaungwa, Rough&Polished from Namibia
Rough&Polished

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