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LONDON - Gemfields Group Limited (JSE:GML) announced Friday that its Montepuez Ruby Mine’s second processing plant in Mozambique is 95% complete and expected to produce its first rubies in August 2025.
The new plant, designed to triple MRM’s ore processing capacity from 200 tons per hour to 600 tons per hour, is reportedly materially on budget despite facing several challenges that have delayed final completion until September 2025.
According to the company’s market update, the delays stem from difficulties obtaining work permits for specialist electrical component installation, transportation issues including damage to a key transformer during transit, and security problems related to illegal mining activities in northern Mozambique.
The company also reported that its Kagem Emerald Mine in Zambia has resumed limited production at two points in the Chama pit with minimal waste mining, as previously announced on May 8. A measured expansion of mining operations is expected to begin in July, though a return to full-scale operations is not anticipated for several months.
Additionally, Gemfields stated it continues to explore strategic options for its wholly-owned luxury brand Fabergé following the completion of a rights issue that temporarily paused the process.
The information in this article is based on a press release statement from Gemfields Group Limited.
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