REG - Gemfields Group Ltd - Higher Quality Emerald Auction Results

GemfieldsAnnouncement

12/09/2025 07:00

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RNS Number : 0442Z  Gemfields Group Limited  12 September 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 "Company")

 

Auction Results - Higher-quality emeralds

LONDON, 12 SEPTEMBER 2025

Gemfields announces the results of an auction comprised of higher-quality
rough emeralds held during the period 25 August - 11 September 2025.

Highlights: August-September 2025 Higher-Quality Emerald Auction

·    Total auction revenues of USD 32.0 million

·    38 lots were offered for sale, of which all were sold (100%)

·    Average realised price of USD 160.78 per carat

·    The 52 auctions of Kagem gemstones held since July 2009 have
generated USD 1,122 million in total revenues

·    The auction included an exceptional gemstone named Imboo ('buffalo'),
weighing 11,685 carats. Imboo is the latest, and largest, remarkable gemstone
discovered at the Kagem mine.

 

 

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

"This September auction marks Kagem's first high-quality emerald sale since
the disappointing result in November 2024. Mining operations at Kagem were
suspended in January 2025 in response to market uncertainty and challenges
relating to the oversupply of Zambian emeralds. Following signs of recovery at
the April commercial-quality auction, two mining points were reopened in May.

While the wider market continues to navigate mixed sentiment and tariff
uncertainty, today's auction result has validated these decisions and
delivered a highly positive outcome. Strong demand was evident across the
grades, with robust prices achieved.

We are grateful to our customers for their continued support and recognition
of the quality of Kagem's emeralds, as reflected in the prices realised. As
market leaders, we remain committed to managing supply responsibly and in the
best interests of our customers and downstream partners. A huge thanks goes
out to the Kagem team for their hard work and dedication in achieving this
result."

The auction lots were made available for private, in-person viewings by
customers in Bangkok. Following the viewings, the auctions took place via an
online auction platform specifically adapted for Gemfields and which permitted
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 Higher-Quality Kagem auctions are
summarised in the table below (and earlier results are available at
www.gemfieldsgroup.com (http://www.gemfieldsgroup.com) ):

 AUCTION RESULTS (HIGHER QUALITY)   Nov '22 AUCTION    (5 sequential mini-auctions)     May-Jun '23 AUCTION   (5 sequential mini-auctions)    May '24                        Nov '24 AUCTION **   (5 sequential mini-auctions)    Sep '25

                                                                                                                                              AUCTION                                                                             AUCTION    (5 sequential mini-auctions)

                                                                                                                                              (5 sequential mini-auctions)
 Dates                              30 Oct - 17 Nov 2022                                15 May - 1 Jun 2023                                   13 - 30 May 2024               4 - 21 Nov 2024                                      25 Aug - 11 Sep 2025
 Location                           Bangkok / Online                                    Bangkok / Online                                      Bangkok / Online               Bangkok / Online                                     Bangkok / Online
 Type                               Higher                                              Higher                                                Higher                         Higher                                               Higher

                                    Quality                                             Quality                                               Quality                        Quality                                              Quality
 Carats offered                     426,180                                             264,132                                               240,000                        200,460                                              199,103
 Carats sold                        401,180                                             264,132                                               208,990                        141,084                                              199,103
 No. of companies placing bids      50                                                  69                                                    60                             56                                                   65
 No. of lots offered                37                                                  35                                                    46                             43                                                   38
 No. of lots sold                   34                                                  35                                                    43                             30                                                   38
 Percentage of lots sold            92%                                                 100%                                                  93%                            70%                                                  100%
 Percentage of lots sold by weight  94%                                                 100%                                                  87%                            70%                                                  100%
 Total sales realised at auction    USD 30.8                                            USD 43.7                                              USD 35.0 million               USD 16.1 million                                     USD 32.0 million

                                    million                                             million
 Average per carat sales value      USD                                                 USD 165.55/carat                                      USD 167.51/carat               USD 113.96/carat                                     USD 160.78/carat

                                    * 76.78/carat

*          Includes the 37kg 'Kafubu Cluster', which comprised 44% of
the weight offered at the auction.

**  The table above excludes the special 'second-round' auction of unsold
lots from the November 2024 high-quality auction, which were re-offered for
sale in February 2025.
This special auction achieved revenues of USD 4.8 million with 10 of the 13
lots sold (77%), representing 45,864 carats sold out of 59,192 carats on offer
(77%) at an average sales price of USD 105.49 per carat.

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.

 

-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)

 

For any press enquiries, please contact Helena and Albertina:
helena.choudhury@gemfields.com (mailto:helena.choudhury@gemfields.com) /
albertina.namburete@gemfields.com (mailto:albertina.namburete@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
 GEMFIELDS HEAD OFFICE PR, 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 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)

 

 

KAGEM MINING 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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