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Gemfields revenue down 32% in 2025 revenue

Revenue plunges as ruby and emerald demand weakens amid operational disruptions

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 Colored precious stones miner Gemfields  reported a 32% drop in 2025 revenue to $135.1 million as operational disruptions and weak demand for rubies and emeralds weighed on performance.

The company said EBITDA fell 85% to $6.2 million from $43.2 million, reflecting reduced production, fewer auctions and softer market conditions. Seven auctions generated $129 million during the year, as limited gemstone availability and uneven demand offset resilient pricing at the high end.

Operations at its Montepuez ruby mine in Mozambique were hit by persistently low recovery of premium rubies and rising illegal mining activity. Two police officers were killed in October when illegal miners stormed the site. The company also flagged delays to its new $70 million processing plant, with commissioning now expected to run well into the first half of 2026, constraining near-term output despite production beginning in September 2025.

On the plus side, Gemfields said it had cut group operating costs by 17%. It also sold the iconic Faberge brand for $50 million to reduce mounting debts and raise working capital for expansion projects.

At the Kagem emerald mine in Zambia, Gemfields suspended mining from January to May in response to weak auction results, softer global demand, particularly in China, and oversupply from a competing Zambian producer.

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International News

Massive 11,000-Carat Ruby Uncovered In Myanmar

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A massive 11,000-carat rough ruby has been recovered in the famed gem-rich region of Mogok, Myanmar, according to recent state media reports.

Weighing in at 2.2 kg (4 lbs 14 oz), the newly discovered stone is roughly half the size of the legendary 21,450-carat rough gem found in the same region back in 1996. However, experts and state officials report that this new find boasts vastly superior color, luster, and transparency.

Mogok rubies, sourced from the “Valley of Rubies” in Myanmar (Burma), are legendary for their unrivaled vivid color and supreme clarity. They are famous worldwide for their “pigeon blood” red hue, which is caused by trace elements and microscopic silk particles that scatter light and give the gem a glowing, velvety softness. 

Key Details of the Discovery:

  • Physical Properties: The giant gem exhibits a striking purplish-red color with yellowish undertones, excellent vitreous luster, and moderate transparency. It remains entirely in its natural, untreated state.
  • Geopolitical Context: Myanmar supplies roughly 90% of the world’s rubies. However, the nation has been embroiled in a devastating civil war since a 2021 military coup—a conflict that has claimed approximately 90,000 lives and displaced over 3.5 million people.
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