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Gemfields Group ( (PLLHF) ) has shared an update.
Gemfields has reported incidents of unrest in Mozambique affecting its Montepuez Ruby Mining Limitada operations, where illegal ruby miners, amid political instability, set fire to community buildings. The company prioritized personnel safety by temporarily relocating some staff, although normal operations are expected to resume by year-end. The unrest also led to the looting of a vocational training center constructed by Gemfields, impacting over 800 local farmers who were to receive farming inputs. Gemfields remains committed to the safety of its personnel and the prosperity of Mozambique, closely monitoring the situation and planning to update stakeholders as necessary.
More about Gemfields Group
Gemfields is a leading responsible miner and marketer of colored gemstones, operating significant mines like the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique. It also owns the prestigious Fabergé brand, enhancing the positioning and consumer awareness of colored gemstones. The company is known for its proprietary grading system and auction platform, contributing to the global growth of the colored gemstone sector.
YTD Price Performance: -9.09%
Average Trading Volume: 76,942
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $99.11M
For a thorough assessment of PLLHF stock, go to TipRanks’ Stock Analysis page.
