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Market Update
Gemfields Group Limited
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, 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
To join our investor mailing list, please contact us on:
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
T: +44(0) 20 7518 3400
SPONSOR (JSE) Investec Bank Limited
Gemfields Group Limited
NOMINATED ADVISER Panmure Liberum
(AIM) & BROKER
Scott Mathieson / Amrit Mahbubani / John More
T: +44(0) 20 3100 2222
PRESS ENQUIRES, Helena Choudhury / Albertina Namburete
GEMFIELDS HEAD OFFICE, helena.choudhury@gemfields.com / albertina.namburete@gemfields.com
LONDON
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 | INVESTORS |FOUNDATION
INSTAGRAM | FACEBOOK | X | YOUTUBE
FABERGÉ
FABERGÉ.COM | INSTAGRAM | FACEBOOK | X | YOUTUBE
KAGEM MINING LIMITED LINKEDIN
MONTEPUEZ RUBY MINING LINKEDIN
Date: 20-06-2025 08:01:00
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