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Gemfields - market update
Gemfields provided 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.
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, the iconic and wholly- owned luxury-brand, following the completion of the rights issue which required the process to be paused.
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