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Gemfields declares record dividend but warns of insurgency in Mozambique

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Miner says it will be difficult to replicate the past year’s performance given the global economic uncertainty

24 March 2023 – 11:42 Nico Gous

Gemfields declared its biggest dividend yet after recording record revenue at two of its mines and higher sales at luxury brand Fabergé, but warned the performance would be hard to repeat in the year ahead.

The London and JSE-listed gemstone miner, which depends heavily on auctions for revenue, said demand has soared since the end of the Covid-19 lockdown when restrictions on travel and gatherings brought viewings to all but a halt, though it was able to hold online auctions…

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