Gemfields will inaugurate a second ruby-processing plant at its Montepuez site in September, expecting to triple the mine’s overall ore capacity.
The company’s new facility in Mozambique will increase its productivity to 600 tonnes of ore per hour, up from 200 tonnes, it said last week. It plans to produce the first rubies in August, with the full launch anticipated the following month. It pushed back the opening due to delays in obtaining work permits, transportation difficulties, and security and operational issues.
Meanwhile, the Kagem emerald mine in Zambia has restarted open-pit mining after closing at the beginning of the year. The suspension of activity was a part of wider cost-reduction measures during a slowdown in the colored-gemstone market. The miner will initially open two production points at the Chama pit to carry out minimal waste mining. It expects to expand operations further in July, depending on developing market conditions. The miner does not intend to return to full-scale mining in the coming months.
Gemfields has resumed exploring a strategic path for its iconic Fabergé label, following the resolution of a rights issue that had temporarily put plans on hold. In December, the miner began to seek a buyer for its luxury brand.
Image: Emeralds from the Kagem mine. (Gemfields)
