Gemfields Group Optimistic Despite Challenges

Gemfields Group (PLLHF) has released an update.

Gemfields Group has reported a revenue of USD 128.0 million and an EBITDA of USD 49.6 million for the first half of 2024, highlighting significant investments in its mining operations despite a challenging financial year. The company’s CEO expressed optimism about the future, citing ongoing projects like the second processing plant at Montepuez ruby mine, which is set to triple ore processing capacity. Gemfields conducted successful emerald and ruby auctions during this period, achieving robust sales figures despite some market uncertainty.

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