Gemfields is pleased to announce that the Government of the Republic of Zambia has renewed Kagem Mining Limited’s (“Kagem”) emerald mining licence. The renewal gives Kagem the right to continue mining emeralds for a period of 25 years to April 2045.
Gemfields is pleased to announce that the Government of the Republic of Zambia has suspended the 15% export duty on precious gemstones (excluding diamonds) with effect from 1 January 2020.
Gemfields is pleased to announce the results of an auction of rough rubies in Singapore from 10 – 14 December 2019. The rough rubies were extracted from the licence held and operated by Montepuez Ruby Mining Limitada (“MRM”), which is 75% owned by Gemfields and 25% by local partner Mwiriti Limitada.
Shareholders are advised that at the Company’s Extraordinary General Meeting (“EGM”) held on Wednesday 4 December 2019, both resolutions set out in the notice and proposed at the meeting were passed by the requisite majority of shareholders.