REG - Gemfields Group Ltd Gemfields Group GEMN Gemfields Group GEMF - Market Update

GemfieldsAnnouncement

20/06/2025 07:02

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RNS Number : 6823N  Gemfields Group Limited  20 June 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")

 

Market Update

LONDON, 20 JUNE 2025

Gemfields hereby provides a market update regarding its three principal
subsidiaries.

Montepuez Ruby Mine ("MRM")

Construction of MRM's second processing plant (or "PP2"), designed to triple
MRM's ore processing capacity from 200tph to 600tph, is 95% complete and
materially on budget.

PP2 is now expected to produce its first rubies during August 2025 courtesy of
the plant's core components. Final completion of PP2, including the tailings
belt conveyor and decanter centrifuge, is now expected to occur during
September 2025.

Final completion has been delayed as a result of, inter alia:

a.  difficulties in obtaining the requisite work permits, particularly in
relation to specialist electrical component installation, including the SCADA
controls necessary to operate PP2;

b.   transport difficulties, including in relation to a key transformer which
was damaged this month during transit (some 287 trucks related to the
construction - out of an estimated 300 - have successfully completed their
deliveries to MRM); and

c.    security and operational issues arising from, inter alia, high levels
of illegal miner incursions.

The Group wishes to commend the sterling efforts of both the MRM team and the
principal contractor, Consulmet (Africa) Limited, in positively navigating the
very challenging circumstances experienced in the north of Mozambique during
the 22 months since the project was first announced.

Kagem Emerald Mine ("Kagem")

As announced on 8 May 2025, Kagem has recommenced focused mining by re-opening
two production points in the Chama pit with minimal waste mining. A measured
further expansion of mining operations is expected from July 2025 and will be
further shaped according to developing market conditions. A return to
full-scale mining is not presently expected for some months.

Fabergé

The Group continues to explore strategic options in respect of Fabergé
(https://www.faberge.com/) , the iconic and wholly-owned luxury-brand,
following the completion of the rights issue which required the process to be
paused.

 

-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 / Ian Hughes

                                                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  Helena Choudhury / Albertina Namburete

                                                helena.choudhury@gemfields.com (mailto:helena.choudhury@gemfields.com) /
                                                albertina.namburete@gemfields.com (mailto:albertina.namburete@gemfields.com)

 ADDITIONAL INFORMATION ON GEMFIELDS

 Gemfields is a world-leading responsible miner and marketer of coloured
 gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald
 mine in Zambia (believed to be the world's single largest producing emerald
 mine) and the Montepuez ruby mine in Mozambique (one of the most significant
 recently discovered ruby deposits in the world). In addition, Gemfields also
 holds controlling interests in various other gemstone mining and prospecting
 licences in Zambia, Mozambique, Ethiopia and Madagascar.

 Gemfields' outright ownership of Fabergé - an iconic and prestigious brand of
 exceptional heritage - enables Gemfields to optimise positioning, perception
 and consumer awareness of coloured gemstones through Fabergé designs,
 advancing the wider group's "mine and market" vision.

 Gemfields has developed a proprietary grading system and a pioneering auction
 platform to provide a consistent supply of coloured gemstones to downstream
 markets, a key component of Gemfields' business model that has played an
 important role in the growth of the global coloured gemstone sector.

 

 

GEMFIELDS

GEMFIELDS.COM (https://gemfields.com/)   (https://gemfields.com/) | INVESTORS
(https://www.gemfieldsgroup.com/)   (https://www.gemfieldsgroup.com/)
|FOUNDATION (https://www.gemfieldsfoundation.org/)

INSTAGRAM (https://www.instagram.com/gemfields/)
(https://www.instagram.com/gemfields/) | FACEBOOK
(https://www.facebook.com/Gemfields/)   (https://www.facebook.com/Gemfields/)
| X (https://x.com/GemfieldsLtd?lang=en) | YOUTUBE
(https://www.youtube.com/channel/UCArCE0JFtakTP-tHq6v0KVg)

 

FABERGÉ

FABERGÉ.COM (https://www.faberge.com/) | INSTAGRAM
(https://www.instagram.com/officialfaberge/)
(https://www.instagram.com/officialfaberge/) | FACEBOOK
(https://www.facebook.com/OfficialFaberge)
(https://www.facebook.com/OfficialFaberge) | X (https://x.com/OfficialFaberge)
  (https://x.com/OfficialFaberge) | YOUTUBE
(https://www.youtube.com/user/officialfaberge)

 

KAGEM MINING LIMITED LINKEDIN
(https://www.linkedin.com/company/kagem-mining-ltd)

MONTEPUEZ RUBY MINING LINKEDIN
(https://www.linkedin.com/company/montepuez-ruby-mining)

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