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MRM

COVID-19 Update: MRM & Corporate

The Company hereby provides a further update on mitigating actions taken in response to the COVID-19 pandemic. The impact of COVID-19 continues to evolve rapidly and it is not yet possible to predict the full extent of the impact on the Company’s operations and revenues. The wellbeing of Gemfields’ employees and host communities continues to remain the Company’s overriding priority and to guide actions undertaken by the Company to navigate the months ahead.

Artisanal miner incursion at Montepuez

The Company announces that the “Maninge Nice 3” mining pit belonging to Montepuez Ruby Mining Limitada (“MRM”, in which Gemfields holds a 75% interest) has experienced a coordinated incursion by approximately 800 artisanal miners, vastly outnumbering the MRM security personnel and Mozambican police present at that location at the time.

Monthly Operational Market Update – 31 December 2019

Gemfields shareholders are advised that the Company has released information about its business related and operational results and financial position up to and including 31 December 2019. The 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.

Singapore Ruby Auction Results

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.

Singapore Ruby Auction Results

Gemfields is pleased to announce the results of an auction of rough rubies in Singapore from 11 – 15 June 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.

Increased illegal mining activity in MRM’s concession at Montepuez

Montepuez Ruby Mining (MRM) has observed increasing numbers of illegal miner pit collapse incidents in 2019, resulting in the loss of multiple lives. MRM has responded by providing humanitarian assistance in rescue and recovery operations, as well as increasing on-site signage warning of the dangers of illegal mining and campaigning to raise awareness among the local communities and government officials to assist in tackling the issue.

Cyclone Kenneth

In the wake of tropical cyclone Kenneth, Gemfields confirms that, while regular operations were temporarily affected, there have fortunately been no reported injuries at Montepuez Ruby Mining Lda (MRM), Megaruma Mining Lda (MML) or in the surrounding communities. In addition, there are no reports thus far of any material damage to MRM / MML assets or infrastructure. Our thoughts are with those who have been affected by the cyclone.

Gemfields Press Statement

Gemfields confirms today that it has agreed, on a no-admission-of-liability basis, the settlement of all claims brought by English law firm Leigh Day on behalf of individuals living in the vicinity of Montepuez Ruby Mining Limitada’s (MRM) mining concession in northern Mozambique. The settlement figure is GBP 5.8 million comprising the sum to be distributed to the claimants by Leigh Day and their legal expenses. In its voluntary statement dated 12 February 2018, Gemfields recognised that, in the past, instances of violence have occurred on and around the MRM licence area, both before and after Gemfields’ arrival in Montepuez.

MRM Ruby Mine SAMREC Resource & Reserves Update

Gemfields is pleased to announce the publication of a Competent Persons Reports (“CPR”) produced by SRK Consulting (UK) Ltd (“SRK”) in respect of Montepuez Ruby Mining Limitada (“MRM”), which is 75% owned by Gemfields and 25% by local Mozambican partner Mwiriti Limitada. The CPR includes ‘Mineral Resource’ and ‘Mineral Reserve’ estimates (at 31 August 2018) in accordance with the 2016 edition of the South African Code for the reporting of exploration results, Mineral Resources and Mineral Reserves (the SAMREC Code or “SAMREC”).