20 Oct 2022 10:40
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: neighbouring ruby mine attacked, MRM evacuation plan initiated
LONDON, 20 OCTOBER 2022
Following an update on 30 August 2022, in which Gemfields announced increased vigilance regarding the Cabo Delgado insurgency, the Company wishes to report further developments.
This morning, an attack attributed to insurgent activity has been reported at the neighbouring ruby mine belonging to Gemrock, which lies approximately 12km south-east of the operations of Montepuez Ruby Mining Limitada ("MRM"), in which Gemfields holds a 75% interest. Details of the attack are being verified.
As a consequence, MRM has initiated the process of evacuating operational employees and contractors, and therefore mining operations at the site have ceased. Security personnel and Mozambique police force remain on site and Mozambique military are arriving on site.
Gemfields and MRM hold the health and safety of their employees and contractors as their highest priority and remain in regular contact with government authorities. We will keep the market updated of further developments.
-ENDS-
Further information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join our investor mailing list, contact us on: ir@gemfields.com
For any press enquiries please contact us on: gemfields@camarco.co.uk
ENQUIRIES
GEMFIELDS | Sean Gilbertson / David Lovett / Ian Hughes ir@gemfields.com T: +44(0) 20 7518 3400 |
SPONSOR (JSE) | Investec Bank Limited |
NOMINATED ADVISER(AIM) & JOINT BROKER | finnCap Christopher Raggett / Tim Redfern / Edward Whiley T: +44(0) 20 7220 0500 |
JOINT BROKER | LiberumScott Mathieson / Kane Collings T: +44(0) 20 3100 2222 |
FINANCIAL PR/ IR | Camarco Gordon Poole / Emily Hall T: +44(0) 20 3757 4980 |
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
Gemfields Grou. (GEM)