International News
Gemfields to Boost Ruby Output with New Mozambique Plant; Resumes Mining at Zambia’s Kagem Site
Gemfields is set to significantly expand its ruby production with the opening of a new processing plant at its Montepuez mine in Mozambique this September. The facility will triple the site’s ore-processing capacity—from 200 to 600 tonnes per hour—marking a major leap in the miner’s operational scale. Initial ruby production from the new plant is scheduled for August, with full operations launching the following month.
Originally slated for an earlier debut, the opening was delayed due to challenges including transportation disruptions, work permit delays, and security-related and operational issues in the region.
Meanwhile, Gemfields has also restarted open-pit operations at its Kagem emerald mine in Zambia, which had paused mining earlier this year as part of cost-reduction strategies amid a cooling colored gemstone market. The restart begins with two active production zones at the Chama pit, focused on low-waste mining. Depending on market recovery, the company may scale up activity in July, though it does not plan a full return to previous output levels in the near term.
In addition to its mining operations, Gemfields is once again evaluating strategic options for its luxury Fabergé brand, after resolving a rights issue that had temporarily paused such plans. The miner began exploring the sale of Fabergé in December as part of a broader effort to align its portfolio with market trends and shareholder interests.
Together, these moves signal Gemfields’ intention to adapt to shifting market dynamics while reinforcing its leadership in the colored gemstone sector.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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