MRM Operational Update

RNS Number : 7922D

Gemfields Group Limited

24 October 2022

 

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 "Company")

MRM Operational Update

LONDON, 24 OCTOBER 2022

On 20 October 2022, Gemfields updated the market regarding the Cabo Delgado insurgency and Gemfields' decision at the time to initiate an evacuation of operational employees and contractors from Montepuez Ruby Mining Limitada ("MRM"), in which Gemfields holds a 75% interest.

The evacuation was initiated as an ample precaution due to an attack, attributed to insurgents, on the morning of Thursday 20 October 2022 on a neighbouring ruby mine located approximately 12km south-east of MRM's operations. MRM's security personnel and the Mozambique police force remained on site at MRM. The Mozambique military arrived at MRM later that day and will maintain a presence for the foreseeable future.

Key operational personnel have now returned to MRM and basic operations have resumed. Mining and processing activities are being resumed in phases after giving due consideration to the threat perceptions in the licence area.

Gemfields and MRM hold the health and safety of their employees and contractors as their highest priority. MRM remains on a state of high alert and maintains regular dialogue with government authorities.

-ENDS-

Further information on Gemfields Group Limited can be found at:

  GEMFIELDSGROUP.COM

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ENQUIRIES

 

GEMFIELDS	Sean Gilbertson / David Lovett / Ian Hughes [e-mail] T:  [phone]
SPONSOR (JSE)	Investec Bank Limited
NOMINATED ADVISER (AIM) & JOINT BROKER	finnCap Christopher Raggett / Tim Redfern / Edward Whiley T: [phone]
JOINT BROKER	Liberum Scott Mathieson / Kane Collings T: [phone]
FINANCIAL PR/ IR	Camarco Gordon Poole / Emily Hall T: [phone]

ADDITIONAL INFORMATION ON GEMFIELDS

Gemfields is a world-leading miner of responsible 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 and trading 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 | TWITTER | YOUTUBE

FABERGÉ

FABERGÉ.COM | INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE

KAGEM MINING LINKEDIN

MONTEPUEZ RUBY MINING LINKEDIN

 

END

 

 

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