VIDEO: Gemfields’ CEO discusses its mining growth

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Ian Harebottle reveals plans for new ruby mine and its stock triumphs.

The chief executive of gemstone mining giant Gemfields, Ian Harebottle, has discussed the company’s past 12 months, with a focus on hitting targets and its rising stock price and new ruby mine, in a video by Proactiveinvestors.

Harebottle describes the company’s growth and says its has been "delivering on its promises", with a 42% increase in profits while managing to reduce its operating costs.

Gemfields has also acquired its first ruby mine, a 300km sq deposit in Mozambique, with drilling to begin in the next 12 months and its first auction predicted for a year’s time.

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Harebottle says that emeralds are "beginning to move" and describes taking a walk down Bond Street in London, where he says demand for the green gemstone clearly exists. He also says that rubies will join emeralds soon and "will move forward exponentially" in terms of demand.

He also suggests that sapphire and other coloured gemstone mining will be next on the agenda, with a "traffic light" array of gemstones to eventually be available from Gemfields.

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