News and Announcements

Discovery of an exceptional 6,225 carat Zambian emerald

Gemfields PLC (“Gemfields” or “the Company”, AIM:GEM) today announces the discovery of a 6,225 carat rough emerald at its Kagem mine in Zambia. The emerald was recovered during normal mining operations on 5 February 2010 and is being examined by Gemfields’ experts to establish a clearer understanding of its value and significance. They will continue to evaluate the gem before any final decision is taken in terms of its future.