March 24 Reuters Faberge jewellery brand owner Gemfields Group, reported a 2 rise in fullyear profit on Friday helped by higher prices for uncut emeralds and rubies.

The precious stone miner said headline earnings per share, the main profit measure in South Africa, rose to 4.8 U.S. dollar cents for the year ended Dec. 31, from 4.7 U.S. dollar cents a year earlier.

Gemfields owns 75 each of the Montepuez ruby mine in Mozambique and Kagem emerald mine in Zambia, with the two countries39; respective governments owning the balance. It also owns the Faberge jewellery brand.

Higher gem prices drove Gemfields39; revenue to a record high 341 million in 2022, up 32 from 258 million the year before.

The Mozambique ruby mine39;s revenue was 167 million, a 13 increase on the previous year, while the Zambian emerald mine contributed 147 million to group revenue, after a 62 increase. Faberge39;s contribution to Gemfields39; revenue was 18 million, a 28 increase from 2021.

Gemfields39; Mozambican operations are in the northern Cabo Delgado province, which has seen an Islamic Statelinked insurgency that has claimed thousands of lives since it broke out in 2017, disrupting multibilliondollar natural gas and mining projects.

Gemfields39; CEO Sean Gilbertson told analysts on Friday operations at Montepuez ruby mine remained stable and uninterrupted, although the company temporarily shut down its exploration camp at Nairoto in February after an insurgency attack was reported nearby….