Non‐Executive Director Appointment
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Date11 Jan 2019
Gemfields advises that Mr Carel Malan has been appointed as a Non‐Executive Director of the Company with effect from 9 January 2019. Mr Malan will also serve as a member of the Company’s Audit Committee. Mr Malan is a South African chartered accountant and is the Chief Financial Officer of the Tshipi manganese mine owned by Tshipi e Ntle Manganese Mining (Pty) Ltd (in which the Company has an indirect interest of approximately 3.7%).
Non-Executive Director Resignation
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Date08 Jan 2019
Gemfields advises that Mr Erich Clarke resigned as a Non-Executive Director of the Company on, and with effect from, 7 January 2019 due to other commitments. The Company is in the process of confirming a replacement for Mr Clarke, including his role as a member of the Company’s Audit Committee.
Singapore Ruby Auction Results
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Date18 Dec 2018
Gemfields is pleased to announce the results of an auction of rough rubies in Singapore from 10 – 14 December 2018. 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. Highlights – Ruby Auction Auction revenues of USD 55.3 million; Of the 90 lots offered, 88 were sold (98%); Average price of USD 84.32 per carat; 655,623 carats sold out of the 685,363 carats offered (96%); and The eleven Gemfields auctions of MRM rubies held since June 2014 have generated USD 462.6 million in aggregate revenues.
Zambian Revenue Authority Clears Kagem
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Date18 Dec 2018
Gemfields advises that the Zambian Revenue Authority (“ZRA”) has now cleared Kagem Mining Limited (“Kagem”) following its recent tax investigation. The investigation commenced on 16 August 2018 when the ZRA served two search warrants during an unannounced visit to Kagem. The search warrants authorised the ZRA to take wide‐ranging documents and files including those allegedly “used by Kagem Mining Ltd / Limpopo Polygraphs CC to evade the payment of value added tax, income tax, withholding tax and other taxes”.
Kariba Update & MRM Monthly Operational Market Data to 31 August 2018
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Date10 Dec 2018
On 9 November 2018, Gemfields Canada Inc. (a 100% subsidiary of Gemfields) agreed to sell its 50% stake in Kariba Minerals Ltd (“Kariba”), the Zambian amethyst mine, to ZCCM Investments Holdings plc (“ZCCM”). The Company is set to receive USD 2,500,000 in consideration for the disposal of its shares to ZCCM. The transaction is subject to various administrative steps and regulatory approvals, including from the Zambian Competition and Consumer Protection Commission and the Zambian Ministry of Mines. The transaction is currently expected to complete early in Q1 2019. As part of the agreement, Gemfields has agreed to discharge all outstanding sums owed by Kariba to the Company.
Singapore Emerald Auction Results
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Date19 Nov 2018
Gemfields is pleased to announce the results of an auction of higher quality rough emeralds held in Singapore from 14 – 17 November 2018. The emeralds were extracted by Kagem Mining Ltd in Zambia (“Kagem”, which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction.
Director’s dealings
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Date09 Nov 2018
In compliance with paragraph 3.63 – 3.66 of the JSE Listings Requirements, the following information is disclosed by the Company:
Director’s dealings
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Date07 Nov 2018
In compliance with paragraph 3.63 – 3.66 of the JSE Listings Requirements, the following information is disclosed by the Company:
Director’s dealings
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Date02 Nov 2018
In compliance with paragraph 3.63 – 3.66 of the JSE Listings Requirements, the following information is disclosed by the Company:
Director’s dealings
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Date17 Oct 2018
In compliance with paragraph 3.63 – 3.66 of the JSE Listings Requirements, the following information is disclosed by the Company: