Cabo Delgado insurgency update
Updated : 14:20
Incorporated in Guernsey. Guernsey registration Number: 47656.
South African external company registration number 2009/012636/10
Share code on JSE:GML / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Company")
Cabo Delgado insurgency: evacuation of personnel from Nairoto Resources
LONDON, 14 FEBRUARY 2023
Shortly before midnight on Sunday 12 February 2023, an attack attributed to insurgents took place in the village of Nairoto in the Cabo Delgado province of Mozambique.
The village of Nairoto lies: (i) approximately 15km south west of the exploration camp of Nairoto Resources Limitada ("NRL"), in which Gemfields owns 75%; and (ii) approximately 83km north of Montepuez Ruby Mining Limitada ("MRM"), in which Gemfields also owns 75%.
As a consequence, NRL has initiated the process of evacuating operational employees and contractors, and therefore operations at the site have ceased. There is no present impact on operations at MRM.
Gemfields, MRM and NRL hold the health and safety of their employees and contractors as their highest priority and remain in regular contact with government authorities.
-ENDS-
Further information on Gemfields Group Limited can be found at:
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ir@gemfields.com
For any press enquiries please contact us on:
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ENQUIRIES
GEMFIELDS | Sean Gilbertson / David Lovett / Ian Hughes |
SPONSOR (JSE) | Investec Bank Limited |
NOMINATED ADVISER | finnCap |
JOINT BROKER | Liberum |
FINANCIAL PR/ IR | Camarco |
ADDITIONAL INFORMATION ON GEMFIELDS
Gemfields is a world-leading miner and marketer of responsibly sourced 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.
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 has developed a proprietary grading system and a pioneering auction and trading 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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KAGEM MINING LINKEDIN
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