24th Dec 2024 09:00
Incorporated in Guernsey. Guernsey registration number: 47656
South African external company registration number: 2009/012636/10
Share code on JSE:GML / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Group" or the "Company")
Update regarding Mozambique unrest
LONDON, 24 DECEMBER 2024
On Monday 23 December 2024, the Mozambican Constitutional Council issued its decision regarding the October 2024 election. News of the ruling has given rise to further unrest in Mozambique.
Gemfields has several operations in Mozambique's northernmost province of Cabo Delgado, the largest being Montepuez Ruby Mining Limitada in Mozambique ("MRM") and which is 75% owned by Gemfields.
The Company's priority remains the safety and security of its employees, contractors and community members. Based on the trajectory of the ongoing situation, there may be interruptions to MRM's mining operations resulting from this unrest.
In the areas surrounding MRM, groups associated with the illegal mining and trading of rubies have taken advantage of the political unrest.
In Namanhumbir, a village immediately adjacent to MRM's principal residential village and infrastructure ("MRM Village"), the instigators set fire on 23 December 2024 to:
a. the Namanhumbir police station;
b. the offices of MRM's Operational Grievance Mechanism;
c. the MRM community centre; and
d. the community radio centre built by MRM.
In the village of Nanune, a water borehole providing water to community members and MRM Village was sabotaged, cutting off the water supply.
In the village of Wikupuri, some 5km east-northeast of MRM Village, and which was constructed ab initio by MRM as a resettlement village, the instigators set fire to:
a. the Wikupuri police station;
b. the residence of police commander; and
c. the administrative offices of Namanhumbir district.
The Company continues to closely monitor the evolving situation and will provide further updates as necessary.
-ENDS-
Further information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join our investor mailing list, please contact us on: [email protected]
For any press enquiries, please contact Helena and Albertina: [email protected] / [email protected]
ENQUIRIES
GEMFIELDS | Sean Gilbertson / David Lovett / Ian Hughes [email protected] T: +44(0) 20 7518 3400 |
SPONSOR (JSE) | Investec Bank Limited |
NOMINATED ADVISER(AIM) & BROKER | Panmure LiberumScott Mathieson / Kieron Hodgson / Amrit Mahbubani / John More T: +44(0) 20 3100 2222 |
GEMFIELDS HEAD OFFICE PR, LONDON | Helena Choudhury / Albertina Namburete |
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. | |
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