Video interview with CEO Harebottle12 Aug 2015 15:21
http://tinyurl.com/qxv7jeg
Ian Harebottle, chief executive of coloured gemstone specialist Gemfields (LON:GEM), says cautious and prudent growth will lead to long-term success for the company in China, the world’s major consumer of luxury goods.
Although the People’s Republic is not officially in recession - its growth rate has been slowing leading to a devaluation of the yuan.
“Our biggest challenge is the global economy. China has been a very good consumer of luxury goods for a while, so we are aware of what’s going on in that economy and the potential knock on effects globally.”
Gemfields, for whom Mila Kunis acts as brand ambassador, is one of the stand-out performers in the mining space on the London market. The firm owns luxury jewellery brand Faberge.
Today, it reported encouraging figures on production and grades, with cost increases offset by the increased scale of exploration, processing and mining activities at both its Kagem and Montepuez mines.