Emerald miner Gemfields third-quarter production falls

Fri May 2, 2014 2:29am EDT

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May 2 (Reuters) - Precious stones miner Gemfields Plc reported a sharp fall in third-quarter production as unseasonably high rainfall in Zambia hurt output from its core Kagem mine.

Production fell about 45 percent to 3.6 million carats of emerald and bery for the quarter ended March 31.

Gemfields, which produces about a fifth of the world's rough emeralds, reported grade of 198 carats per tonne in the third quarter compared with 265 carats per tonne a year earlier. (Reporting by Karen Rebelo in Bangalore; Editing by Gopakumar Warrier)

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