{"id":38249,"date":"2026-09-25T14:50:43","date_gmt":"2026-09-25T09:20:43","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=38249"},"modified":"2026-09-25T14:50:43","modified_gmt":"2026-09-25T09:20:43","slug":"gemfields-expects-us73-5-million-h1-loss-on-montepuez-impairment","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/gemfields-expects-us73-5-million-h1-loss-on-montepuez-impairment\/","title":{"rendered":"Gemfields Expects US$73.5 Million H1 Loss on Montepuez Impairment"},"content":{"rendered":"<p>Gemfields is expecting a US$73.5 million net loss after tax for the first half of 2026, as weaker-than-expected premium ruby recoveries at its Montepuez Ruby Mining operation in Mozambique hit the company\u2019s bottom line.<\/p>\n<p>The expected loss compares with a US$20.5 million loss in H1 2025. Revenue, meanwhile, rose at both of the company\u2019s key operations. Montepuez generated US$76.1 million, up 95.6% from US$38.9 million a year earlier, while Zambia\u2019s Kagem emerald mine contributed US$26.7 million, up 26.5% from US$21.1 million. Total auction revenue reached US$102.8 million, up 71.6% year on year, although the comparison was affected by the deferral of a mixed-quality ruby auction from December 2025 to February 2026.<\/p>\n<p>David Lovett, interim CEO of Gemfields, said the company has been working to address the weaker ruby recoveries through changes to mine planning, grade performance and operational reliability.<\/p>\n<p>\u201cRecent ruby recoveries have shown early signs of improvement,\u201d Lovett said, adding that the company needs further evidence before drawing firm conclusions.<\/p>\n<p>Gemfields said its focus for the rest of 2026 will be on sustaining the improvement at MRM while maintaining financial discipline. The company is due to release its full interim results on Sept. 30.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gemfields is expecting a US$73.5 million net loss after tax for the first half of 2026, as weaker-than-expected premium ruby recoveries at its Montepuez Ruby Mining operation in Mozambique hit the company\u2019s bottom line. The expected loss compares with a US$20.5 million loss in H1 2025. Revenue, meanwhile, rose at both of the company\u2019s key&hellip;<\/p>\n","protected":false},"author":1,"featured_media":38250,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-38249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gemfields Expects US$73.5 Million H1 Loss on Montepuez Impairment - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/gemfields-expects-us73-5-million-h1-loss-on-montepuez-impairment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gemfields Expects US$73.5 Million H1 Loss on Montepuez Impairment - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Gemfields is expecting a US$73.5 million net loss after tax for the first half of 2026, as weaker-than-expected premium ruby recoveries at its Montepuez Ruby Mining operation in Mozambique hit the company\u2019s bottom line. The expected loss compares with a US$20.5 million loss in H1 2025. 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