Gemfields Operational Update and Strategic Review as of 30 June 2025
Gemfields Group Limited has released its operational and financial update for the six months ending 30 June 2025, reporting total auction revenues of USD 60 million and a net debt position of USD 59.6 million. Key developments include near-completion of Montepuez Ruby Mine’s second processing plant and the resumption of focused mining at the Kagem emerald mine. Significant progress has also been made in the strategic review of Fabergé. The full interim results will be published on 26 September 2025.
Shareholders Notified of Company’s Financial Disclosure
Gemfields shareholders are advised that the Company has released information about its operational results and financial position for the six months to 30 June 2025.
Breakdown of Operational Reporting
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.
Access to Full Data
The full operational results and an Excel spreadsheet of Gemfields’ historic figures can be found on the Company’s website at www.gemfieldsgroup.com/operational-update
Highlights Summary
Total auction revenues of USD 60 million for the first half of the year.
Debt Position and Capital Raise
Net debt position of USD 59.6 million (before auction receivables of USD 16.1 million) at 30 June 2025, which includes proceeds from the fully underwritten USD 30 million Rights Issue completed on 13 June 2025 through the issuance of 556,203,396 new shares.
Update on Montepuez Ruby Mine (MRM) Plant
Construction of MRM’s second processing plant is nearing completion and remains materially on budget, with first ruby production expected in August 2025 and full completion anticipated during September 2025.
Update on Kagem Emerald Mine Operations
Kagem recommenced focused mining in May 2025 by reopening two production points in the Chama pit, with a further moderated expansion from July 2025 while continuing to process stockpiles through its upgraded wash plant.
Forthcoming Interim Results
Full commentary on the operational performance and financial results will be available in Gemfields’ interim results, due to be published on Friday, 26 September 2025.
Progress on Fabergé Strategic Review
Update on strategic review of Fabergé
Gemfields is also pleased to advise that material progress has been made in respect of the strategic review of Fabergé and will update the market as appropriate.
Disclaimer on Data Validity
Shareholders are advised that all figures in this operational update are unaudited, in respect of which the directors assume full responsibility.
About Gemfields Group
Gemfields is a world-leading responsible miner and marketer of coloured gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world’s single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world). In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting licences in Zambia, Mozambique, Ethiopia, and Madagascar.
Fabergé’s Strategic Role in Gemfields’ Vision
Gemfields’ outright ownership of Fabergé—an iconic and prestigious brand of exceptional heritage—enables Gemfields to optimise positioning, perception, and consumer awareness of coloured gemstones through Fabergé designs, advancing the wider Group’s “mine and market” vision.
Gemfields’ Grading and Auction Platform
Gemfields has developed a proprietary grading system and a pioneering auction platform to provide a consistent supply of coloured gemstones to downstream markets, a key component of Gemfields’ business model that has played an important role in the growth of the global coloured gemstone sector.
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