NAV Per Share: ZAc 559 (as at 31 December 2024)

News and Announcements

Zambia Update: 15% Export Duty Suspended

/
Date19 Feb 2025
Further to the announcement made by the Company on 8 January 2025, Gemfields is pleased to announce that the Honourable Minister of Finance of Zambia, Dr Situmbeko Musokotwane, has suspended the 15% export duty on precious gemstones and metals by issuing Statutory Instrument No. 4 of 2025 on 18 February 2025 (the Customs and Excise (Precious Stones and Metals) (Export Duty) (Suspension) Order). This suspension is effective immediately.

Operational Update to 31 December 2024

/
Date31 Jan 2025
Gemfields shareholders are advised that the Company has released information about its operational results and financial position to 31 December 2024. These unaudited figures have been produced on a monthly basis for Gemfields’ 75%-owned Kagem emerald mine, its 75%-owned Montepuez ruby mine and Fabergé, the iconic luxury brand.

Zambia re-introduces 15% export duty on emeralds

/
Date08 Jan 2025
Gemfields has become aware that a new statutory instrument in Zambia dated 30 December 2024 and which came into effect on 1 January 2025 (S.I. No. 88 of 2024, the Customs and Excise (Precious Stones) (Export Duty) (Suspension) (Revocation) Order, 2024) has revoked the 2019 suspension of a 15% export duty on precious gemstones. This directly impacts the Zambian emeralds mined by Kagem Mining Limited (“Kagem”) which is 75% owned by Gemfields and 25% owned by the Zambian Government’s Industrial Development Corporation.

Further update regarding Mozambique unrest

/
Date27 Dec 2024
On 24 December 2024, Gemfields made an announcement regarding incidents occurring on 23 December 2024 and involving groups associated with illegal ruby mining taking advantage of the prevailing political unrest in Mozambique and setting fire, inter alia, to community buildings built by Montepuez Ruby Mining Limitada in Mozambique (“MRM”). These incidents took place in and around Namanhumbir, a village immediately adjacent to MRM’s principal residential infrastructure (“MRM Village”).

Update regarding Mozambique unrest

/
Date24 Dec 2024
On Monday 23 December 2024, the Mozambican Constitutional Council issued its decision regarding the October 2024 election. News of the ruling has given rise to further unrest in Mozambique. Gemfields has several operations in Mozambique’s northernmost province of Cabo Delgado, the largest being Montepuez Ruby Mining Limitada in Mozambique (“MRM”) and which is 75% owned by Gemfields.

Strategic Update

/
Date23 Dec 2024
Following Gemfields’ most recent emerald and ruby auctions (the results of which were published on 22 November and 12 December 2024 respectively), the Group announces that it has taken, and will continue to undertake, actions to cut costs and streamline business activity amid four key challenges being encountered concurrently, while maintaining focus on the Group’s principal growth project, completion of the second ruby processing plant at Montepuez Ruby Mining Limitada in Mozambique (“MRM”).
1 2 3 4 … 103

Archives