{"id":10160,"date":"2024-12-25T06:26:43","date_gmt":"2024-12-25T06:26:43","guid":{"rendered":"https:\/\/jewellerynewsindia.com\/?p=10160"},"modified":"2024-12-25T06:26:59","modified_gmt":"2024-12-25T06:26:59","slug":"gemfields-suspends-mining-at-kagem-amid-several-cost-cutting-measures","status":"publish","type":"post","link":"https:\/\/jewellerynewsindia.com\/index.php\/2024\/12\/25\/gemfields-suspends-mining-at-kagem-amid-several-cost-cutting-measures\/","title":{"rendered":"Gemfields suspends mining at Kagem amid several cost-cutting measures."},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-full is-resized has-custom-border\"><img fetchpriority=\"high\" decoding=\"async\" width=\"875\" height=\"621\" src=\"https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/12\/IMG-1-10.jpg\" alt=\"\" class=\"wp-image-10162\" style=\"border-width:3px;border-radius:5px;width:568px;height:auto\" srcset=\"https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/12\/IMG-1-10.jpg 875w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/12\/IMG-1-10-300x213.jpg 300w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/12\/IMG-1-10-768x545.jpg 768w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/12\/IMG-1-10-200x142.jpg 200w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/12\/IMG-1-10-600x426.jpg 600w\" sizes=\"(max-width: 875px) 100vw, 875px\" \/><\/figure>\n\n\n\n<p><a href=\"https:\/\/www.gemfieldsgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Gemfields Group Limited<\/a>, a coloured gemstone miner, has outlined a number of strategic steps to reduce costs and optimize its operations in response to four major issues.<\/p>\n\n\n\n<p>The company&#8217;s most recent emerald and ruby auctions generated fewer revenues than anticipated due to an oversupply of Zambian emeralds at discounted rates, lesser output of quality rubies, a weaker luxury market, and civil upheaval in Mozambique.<\/p>\n\n\n\n<p>To resolve these difficulties, <a href=\"https:\/\/www.gemfieldsgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Gemfields<\/a> is pausing operations at Kagem operations Limited, its Zambian emerald mine, for up to six months. It is also delaying non-essential spending and planned major expenditures on ruby development projects in Mozambique. <a href=\"https:\/\/www.gemfieldsgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Gemfields<\/a> is selling its Nairoto gold property and exploring strategic options for its luxury brand, <a href=\"https:\/\/www.faberge.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Faberg\u00e9<\/a>. The corporation is implementing focused rationalisation throughout its operations.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gemfieldsgroup.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Gemfields<\/a> is convinced that these steps will be transitory and allow it to navigate the current market conditions. The company is still focusing on completing its second ruby processing plant at Montepuez Ruby Mining Limitada, which is scheduled to be completed by the end of the first half of 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gemfields Group Limited, a coloured gemstone miner, has outlined a number of strategic steps to reduce costs and optimize its operations in response to four major issues. The company&#8217;s most recent emerald and ruby auctions generated fewer revenues than anticipated due to an oversupply of Zambian emeralds at discounted rates, lesser output of quality rubies, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gemfields suspends mining at Kagem amid several cost-cutting measures. - JNI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jewellerynewsindia.com\/index.php\/2024\/12\/25\/gemfields-suspends-mining-at-kagem-amid-several-cost-cutting-measures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gemfields suspends mining at Kagem amid several cost-cutting measures. - JNI\" \/>\n<meta property=\"og:description\" content=\"Gemfields Group Limited, a coloured gemstone miner, has outlined a number of strategic steps to reduce costs and optimize its operations in response to four major issues. 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