Further Update regarding Mozambique Unrest

Gemfields Group Limited

27 December 2024

 

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")

Further update regarding Mozambique unrest

LONDON, 27 DECEMBER 2024

On 24 December 2024, Gemfields made an announcement regarding incidents occurring on 23 December 2024 and involving groups associated with illegal ruby mining taking advantage of the prevailing political unrest in Mozambique and setting fire, inter alia, to community buildings built by Montepuez Ruby Mining Limitada in Mozambique ("MRM"). These incidents took place in and around Namanhumbir, a village immediately adjacent to MRM's principal residential infrastructure ("MRM Village").

On 24 December 2024, more than 200 persons staged an attempt to invade the MRM Village and during their approach set fire to external structures built by MRM and containing, inter alia, a community cash point. Security forces comprising both the Mozambican police and military protected the MRM Village using a staged escalation of force. Tragically, during the course of the morning, two individuals staging the attempt on MRM Village were shot, subsequently taken to the Montepuez district hospital and declared dead.

Given the Company's priority remains the safety and security of its personnel, a number of people were temporarily relocated to offsite locations given the increased risk profile. MRM maintained a sizeable presence on site of more than 500 persons across employees, contractors and security components. The temporarily relocated personnel began a phased return on 26 December 2024. While MRM's operations were halted from 24 December 2024, MRM intends to return to normal operations before the end of the year.

On the same day, in the nearby village of Wikupuri (which was constructed by MRM), the vocational training centre built by MRM and operated by Mozambique's Institute for Vocational Training and Labor Studies ("IFPELAC") was looted and damaged on two occasions. The inventory looted included farming inputs provided by MRM that were due to be distributed to over 800 local farmers to promote sustainable livelihoods.

Gemfields and MRM wish the country and all Mozambicans peace and prosperity and are committed to making every effort within their means to further those goals.

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

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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 [e-mail] T:  [phone]
SPONSOR (JSE)	Investec Bank Limited
NOMINATED ADVISER (AIM) & BROKER	Panmure Liberum Scott Mathieson / Kieron Hodgson / Amrit Mahbubani / John More T: [phone]
GEMFIELDS HEAD OFFICE PR, LONDON	Helena Choudhury / Albertina Namburete [e-mail] / [e-mail]

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

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FABERGÉ

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KAGEM MINING LINKEDIN

MONTEPUEZ RUBY MINING LINKEDIN

 

END