International News
Gemfields Auctions Revenue Falls Short Of Expectations In 2025
Auction Revenue Slumps to $129m As Demand Skips Smaller Good
Gemfields reported disappointing auction revenue of just $129 million from its seven sales in 2025, well below expectations amid fragile market sentiment and persistent volatility. Demand proved uneven, with buyers shunning lower-quality and smaller-sized goods while showing more interest in premium material.
The coloured-gemstone miner, which operates the Kagem emerald mine in Zambia and the Montepuez ruby deposit in Mozambique, faced operational setbacks at both sites, including delays to Montepuez’s second processing plant, illegal mining, and grade volatility. These issues curtailed premium ruby output, disrupted auction schedules, and reduced cash generation despite tight cost control.
Pricing for high-quality emeralds and rubies improved progressively throughout the year. To strengthen its balance sheet, Gemfields prioritised deleveraging, including the $50 million sale of its luxury brand Fabergé. The company expects plant delays to persist into the first half of 2026 and will release full-year results on 26 March.
International News
GIA Celebrates America’s 250th Anniversary With Special Red, White and Blue Gem Showcase
Through This Curated Exhibition, GIA Highlights The Scientific, Historical and Artistic Dimensions Of Gemstones While Commemorating A Major Milestone In American History.
The Gemological Institute of America (GIA) has assembled a distinctive collection of red, white and blue gemstones and pearls to mark the 250th anniversary of the United States. The showcase demonstrates the remarkable diversity of gem materials and highlights how crystal structures, trace elements and natural formation processes influence colour and appearance.
The collection presents a patriotic palette through an array of rare and notable gemstones. Featured in the red category are ruby, red spinel, rhodochrosite and red beryl. A standout exhibit is a finely carved ruby portrait of Abraham Lincoln, underscoring the artistic possibilities of gemstone carving. The display also includes red beryl, one of the world’s rarest gemstones, which is commercially mined only at Utah’s Ruby Violet Mine.
Representing the white and colourless segment are zircon, beryllonite, apophyllite and pearls. Colourless zircon is renowned for its exceptional brilliance and fire, while beryllonite from Maine adds a uniquely American element to the collection. Natural pearls further enrich the display, showcasing the fascinating biomineralisation process through which they are formed inside mollusks.
The blue section features blue spinel, dumortierite, euclase and benitoite. Among these, benitoite holds special significance as California’s state gemstone. First discovered in 1907 and officially designated as the state gem in 1985, benitoite is celebrated for its vivid blue colour and striking sparkle. Despite extensive study, scientists have yet to fully determine the cause of its distinctive hue.
Through this curated exhibition, GIA highlights the scientific, historical and artistic dimensions of gemstones while commemorating a major milestone in American history.
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