Update regarding Cabo Delgado insurgency

RNS Number : 6414O

Gemfields Group Limited

13 June 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")

Update regarding Cabo Delgado insurgency

LONDON, 13 JUNE 2022

During the week commencing 6 June 2022, several attacks attributed to insurgent activity occurred in the vicinity of Ancuabe, a town in the Cabo Delgado province of Mozambique. Ancuabe lies approximately 65 kilometres east-north-east of MRM. As such, these attacks are considerably closer to the operations of Montepuez Ruby Mining Limitada ("MRM"), in which Gemfields holds a 75% interest. Most of the earlier insurgent activity has occurred more than 150 kilometres to the north-east of MRM.

The incidents are reported as having occurred between 15 kilometres and 40 kilometres north of the N1 and N14 roads, the principal route used by MRM to travel to and from the coastal town of Pemba, the provincial capital. At the time of writing, military escorts are accompanying civilian vehicles on the stretch of road closer to Pemba. 

Last week's attacks reportedly included the killing of two employees of the Ancuabe Graphite Project owned by Grafex Limitada, a subsidiary of Australian company Triton Minerals Limited.

While MRM has implemented certain travel restrictions, its mining and processing operations remain unaffected. 

Gemfields and MRM hold the health and safety of their employees and contractors as their highest priority. The group remains in regular contact with government authorities and is closely monitoring developments.   

-ENDS-

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ENQUIRIES

GEMFIELDS	Sean Gilbertson / David Lovett T:  [phone]
SPONSOR (JSE)	Investec Bank Limited
SEDIBELO SALE PROCESS	Liberum Nehal Patel T: [phone]
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

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FABERGÉ

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KAGEM MINING LINKEDIN

MONTEPUEZ RUBY MINING LINKEDIN

 

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