REG - Gemfields Group Ltd - Auction Results: Commercial-Quality Emeralds

GemfieldsAnnouncement

05/12/2025 07:00

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RNS Number : 3425K  Gemfields Group Limited  05 December 2025

Incorporated in Guernsey. Guernsey registration number: 47656

South African external company registration number: 2009/012636/10

Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM

ISIN: GG00BG0KTL52   |   LEI: 21380017GAVXTCYS5R31

("Gemfields" or the "Group" or the "Company")

 

Auction Results: Commercial-Quality Emeralds

LONDON, 05 DECEMBER 2025

Gemfields announces the results of an auction comprised of commercial-quality
rough emeralds held during the period 17 November - 4 December 2025.

Highlights: December 2025 Commercial-Quality Emerald Auction

·    Total auction revenues of USD 25.4 million

·    46 lots were offered for sale and 45 were sold (98%)

·    Average price of USD 7.46 per carat

·    The 53 auctions of Kagem gemstones held since July 2009 have
generated USD 1.147 billion in total revenues

The specific auction mix and the quality of the lots offered at each auction
vary in characteristics such as size, colour and clarity on account of
variations in mined production and market demand. Therefore, the results of
each auction are not always directly comparable.

Adrian Banks, Gemfields' Managing Director of Product & Sales, commented:

"Today's auction results mark a successful conclusion to a challenging year
for Kagem. Following the temporary suspension of mining operations during the
first half, the business has nonetheless delivered a strong performance for
2025, culminating in this auction's solid contribution to USD 79 million of
total Kagem auction revenues for 2025.

The firm pricing seen across all quality categories demonstrates that the
pressures experienced at the end of 2024 and early 2025 have largely subsided.
Market sentiment has strengthened and the sustained demand observed since the
third quarter of 2025 continues to underpin robust performance.

We extend our appreciation to the Kagem team for their continued hard work and
extend our thanks also to the Industrial Development Corporation of Zambia,
Kagem's 25% shareholder."

The auction lots were made available for private, in-person viewings by
customers in Jaipur, India. Following the viewings, the auctions took place
via an online auction platform specifically adapted for Gemfields and which
permits customers from multiple jurisdictions to participate in a sealed-bid
process.

The rough emeralds sold were extracted by Kagem (which is 75% owned by
Gemfields and 25% by the Industrial Development Corporation of Zambia). The
proceeds of this auction will be fully repatriated to Kagem in Zambia with all
royalties due to the Government of the Republic of Zambia being paid on the
full sales prices achieved at the auction.

The results of the five most recent commercial-quality Kagem auctions are
summarised in the table below (and earlier results are available at
www.gemfieldsgroup.com (http://www.gemfieldsgroup.com) ):

 

 AUCTION RESULTS (COMMERCIAL QUALITY)  Aug-Sep '23 Auction         Mar '24                     Aug-Sep '24           Apr '25             Nov-Dec '25

                                                                   Auction                     Auction               Auction             Auction
 Dates                                 29 Aug - 15 Sept 2023       5 - 22 Mar 2024             27 Aug - 13 Sep 2024  11 - 29 Apr 2025    17 Nov - 04 Dec 2025
 Location                              Jaipur, India   / Online    Jaipur, India   / Online    Jaipur, India         Jaipur, India       Jaipur, India / Online

/ Online
/ Online
 Type                                  Commercial Quality          Commercial Quality          Commercial Quality    Commercial Quality  Commercial Quality
 Carats offered                        3,392,395                   4,171,375                   3,978,450             3,029,690           3,656,830
 Carats sold                           3,392,395                   3,854,950                   2,423,550             2,388,190           3,406,830
 No. of companies placing bids         50                          50                          39                    50                  55
 No. of lots offered                   43                          43                          46                    36                  46
 No. of lots sold                      43                          40                          28                    32                  45
 Percentage of lots sold               100%                        93%                         61%                   89%                 98%
 Percentage of lots sold by weight     100%                        92%                         61%                   79%                 93%
 Total sales realised at auction       USD 25.5                    USD 17.1 million            USD 10.8              USD 16.4            USD 25.4

                                       million                                                 million               million             million
 Average per carat sales value         USD                         USD 4.45/carat              USD                   USD                 USD

                                       7.51/carat                                              4.47/carat            6.87/carat          7.46/carat

 

 

-ENDS-

 

Further information on Gemfields Group Limited can be found at:

 GEMFIELDSGROUP.COM (http://WWW.GEMFIELDSGROUP.COM)

 

To join our investor mailing list, please contact us on:
ir@gemfields.com (mailto:ir@gemfields.com)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) no. 596/2014 which forms part of domestic UK
law pursuant to the European Union (withdrawal) act 2018 ("MAR").

 

ENQUIRIES

 

 GEMFIELDS                                      Sean Gilbertson / David Lovett / Heinrich Richter

                                                ir@gemfields.com (mailto:ir@gemfields.com)

T:  +44(0) 20 7518 3400
 SPONSOR (JSE)                                  Investec Bank Limited
 NOMINATED ADVISER                              Panmure Liberum

(AIM) & BROKER
Scott Mathieson / Amrit Mahbubani / John More
                                                T: +44(0) 20 3100 2222
 PRESS ENQUIRES, GEMFIELDS HEAD OFFICE, LONDON  press@gemfields.com (mailto:press@gemfields.com)

T:  +44(0) 20 7518 3400

 

NOTES TO EDITORS

 

About Gemfields Group Limited

Gemfields is a world-leading miner of coloured gemstones, which is dual-listed
on the Johannesburg and London AIM stock exchanges.

Gemfields is the operator and 75% owner of both Kagem Mining in Zambia (a
world-leading emerald mine) and Montepuez Ruby Mining in Mozambique (situated
on one of the most significant recently discovered ruby deposits in the
world). In addition, Gemfields holds controlling interests in various other
gemstone mining and prospecting licenses in Zambia, Mozambique, Ethiopia and
Madagascar.

Gemfields introduced a proprietary grading system and pioneering auction
platform which have transformed the coloured gemstone industry. Today, the
company implements and invests in industry-leading policies, practices and
infrastructure across its operations; aligns with relevant industry standards
to underpin its responsible approach, plays an active role in working groups
to modernise the sector and raises the profile of African gems through its
global marketing efforts.

Gemfields funds projects to improve health, education and livelihoods for
communities around its mines, supports local conservation partners and created
the Gemfields Foundation, its charitable arm, which magnifies the scale of the
work already carried out by Gemfields itself.

Gemfields values transparency, legitimacy and integrity, and believes that
coloured gemstones should create a positive impact for the countries and
communities from which they originate.

 

GEMFIELDS.COM (https://gemfields.com/) (https://gemfields.com/) | INVESTORS
(https://www.gemfieldsgroup.com/) (https://www.gemfieldsgroup.com/) |
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(https://twitter.com/GemfieldsLtd?lang=en) | YOUTUBE
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KAGEM MINING LINKEDIN (https://www.linkedin.com/company/kagem-mining-ltd) |
FACEBOOK (https://www.facebook.com/KagemMiningLtd/)

MONTEPUEZ RUBY MINING LINKEDIN
(https://www.linkedin.com/company/montepuez-ruby-mining) | FACEBOOK
(https://web.facebook.com/MontepuezRM?mibextid=wwXIfr&_rdc=1&_rdr)

 

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