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Auction Results: Commercial-Quality Emeralds
Gemfields Group Limited
Incorporated in Guernsey. Guernsey registration number: 47656
South African external company registration number: 2009/012636/10
Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Group" or the "Company")
Auction Results: Commercial-Quality Emeralds
LONDON, 30 APRIL 2025
Gemfields announces the results of an auction comprised of commercial-quality rough emeralds
held during the period 11 - 29 April 2025.
Highlights: April 2025 Commercial-Quality Emerald Auction
- Total auction revenues of USD 16.4 million
- 36 lots were offered for sale, of which 32 were sold (89%)
- Average price of USD 6.87 per carat
- The 51 auctions of Kagem gemstones held since July 2009 have generated USD 1,090
million in total revenues
The specific auction mix and the quality of the lots offered at each auction vary in characteristics
such as size, colour and clarity on account of variations in mined production and market demand.
Therefore, the results of each auction are not always directly comparable.
Adrian Banks, Gemfields' Managing Director of Product & Sales, commented:
"Today's result marks a notable improvement on the disappointing commercial-quality auction held in September
2024. An increased number of bids and stronger prices across a broad quality-range point to improved sentiment
and demand since our experience in Q3 2024.
The overall USD per carat realisation has been positively skewed by the withdrawal of a schedule comprising very
low-quality material, weighing 112,000 grams and representing 18.5% of the total weight offering.
We extend our appreciation to the Kagem team and to the Government of the Republic of Zambia, Kagem's 25%
shareholder."
The auction lots were made available for private, in-person viewings by customers in Jaipur.
Following the viewings, the auctions took place via an online auction platform specifically adapted
for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed-
bid process.
The rough emeralds sold were extracted by Kagem (which is 75% owned by Gemfields and 25%
by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully
repatriated to Kagem in Zambia with all royalties due to the Government of the Republic of
Zambia being paid on the full sales prices achieved at the auction.
The results of the five most recent commercial-quality Kagem auctions are summarised in the table
below (and earlier results are available at www.gemfieldsgroup.com):
AUCTION
RESULTS Mar '23 Aug-Sep '23 Mar '24 Aug-Sep '24 Apr '25
(COMMERCIAL Auction Auction Auction Auction Auction
QUALITY)
6 - 24 Mar 29 Aug - 15 5 - 22 Mar 27 Aug - 13 11 - 29 Apr
Dates
2023 Sept 2023 2024 Sep 2024 2025
Jaipur, India Jaipur, India Jaipur, India Jaipur, India / Jaipur, India
Location
/ Online / Online / Online Online / Online
Commercial Commercial Commercial Commercial Commercial
Type
Quality Quality Quality Quality Quality
Carats offered 3,148,710 3,392,395 4,171,375 3,978,450 3,029,690
Carats sold 2,974,710 3,392,395 3,854,950 2,423,550 2,388,190
No. of
companies 45 50 50 39 50
placing bids
No. of lots offered 29 43 43 46 36
No. of lots sold 25 43 40 28 32
Percentage of lots
86% 100% 93% 61% 89%
sold
Percentage of
lots sold by 94% 100% 92% 61% 79%
weight
Total sales
USD 21.2 USD 25.5 USD 17.1 USD 10.8 USD 16.4
realised at
million million million million million
auction
Average per USD USD USD USD USD
carat sales value 7.13/carat 7.51/carat 4.45/carat 4.47/carat 6.87/carat
-ENDS-
Further information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join our investor mailing list, please contact us on:
ir@gemfields.com
This announcement contains inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) no. 596/2014 which forms part of domestic UK law pursuant to the European
Union (withdrawal) act 2018 ("MAR").
ENQUIRIES
GEMFIELDS Sean Gilbertson / David Lovett / Ian Hughes
ir@gemfields.com
T: +44(0) 20 7518 3400
SPONSOR (JSE) Investec Bank Limited
NOMINATED ADVISER Panmure Liberum
(AIM) & BROKER Scott Mathieson / Amrit Mahbubani / John More
T: +44(0) 20 3100 2222
PRESS ENQUIRES, GEMFIELDS Helena Choudhury / Albertina Namburete
HEAD OFFICE, LONDON helena.choudhury@gemfields.com / albertina.namburete@gemfields.com
ADDITIONAL INFORMATION ON GEMFIELDS
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.
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 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.
GEMFIELDS
GEMFIELDS.COM | INVESTORS |FOUNDATION
INSTAGRAM | FACEBOOK | X | YOUTUBE
FABERGÉ
FABERGÉ.COM | INSTAGRAM | FACEBOOK | X | YOUTUBE
KAGEM MINING LIMITED LINKEDIN
MONTEPUEZ RUBY MINING LINKEDIN
Date: 30-04-2025 08:00:00
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