Gemfields is going to open a new ruby-processing plant at the Montepuez site in Mozambique in two months from now. The new facility will handle three times as much ore as the company does now, significantly increasing the performance.
Gemfields said in a recent statement that the new factory would increase the processing capacity from 201 to 605 tonnes of ore per hour. The start of the operation is set for August, and full commissioning is planned for July. Unfortunately, logistics difficulties, such as issues with obtaining work permits, as well as transportation and security-related issues, caused the delay of the initial timeline.
The Montepuez mine is one of the greatest places in Africa to source quality rubies. Setting up a new plant there shows that Gemfields wants to continue having high performance despite the turbulences in the gemstone industry.
Photos courtesy of Gemfields.
Additionally, the company restarted open-pit mining at the Kagem emerald site in Africa, which was shut down in the first half of the year. The break was necessary in order to cut costs due to the decreasing demand for colored gemstones. Small-scale mining has started up again at two places in the Chama pit. As of now, the work is focused on low-waste extraction.
Full-scale mining isn’t expected to start in the nearest future, but there’ll probably be some ramp-up next month. Furthermore, Gemfields has started its review of Faberge (one of its high-end brands). Due to a rights problem, the company temporarily stopped searching for an appropriate buyer. But as a part of a long-term portfolio-building strategy, those plans are again on the table.
The Olertis team congratulates Gemfields on such a big step and hopes it will unearth more amazing rubies for the jewelry world to see!
