Operational update to 30 June 2026
Gemfields Group Limited reported strong operational results for the six months ending June 30, 2026, with total auction revenues reaching USD 102.9 million, a significant increase from USD 60 million in the prior year's first half. The company maintained a net debt position of USD 44.2 million, excluding auction receivables of USD 33.3 million. While Kagem Mining saw healthy emerald production, higher operating costs were noted. Montepuez Ruby Mining experienced weak premium grade ruby recovery, though its second processing plant contributed meaningfully to production volumes. Full interim results are expected on September 25, 2026.
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Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM
("Gemfields" or the "Group" or the "Company")
Operational Update to 30 June 2026
LONDON, 30 JULY 2026
Gemfields shareholders are advised that the Company has released information about its operational results and financial position for the six months to 30 June 2026.
These unaudited figures have been produced on a monthly basis for Gemfields' 75%-owned emerald mine, Kagem Mining ("Kagem") and 75%-owned ruby mine, Montepuez Ruby Mining ("MRM").
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
- Total auction revenues of USD 102.9 million for the first half of the year (2025 H1: USD 60 million)
- Net debt position of USD 44.2 million (before auction receivables of USD 33.3 million) at 30 June 2026.
- MRM continued to experience weak premium grade ruby recovery, at 0.025 carats per tonne in the six-months to 30 June 2026. The Company continues to focus mining activities on areas believed to contain higher-grade material, with the aim of improving grade outcomes. MRM's second processing plant made a meaningful contribution to production volumes in H1 and is expected to be signed off as fully commissioned later this year.
- Kagem maintained healthy premium emerald production during the first half, while higher fuel prices, exchange rate pressures and increased mining activity impacted operating costs.
Full commentary on the operational performance and financial results will be available in Gemfields' interim results due to be published on Friday 25 September 2026.
Shareholders are advised that all figures in this operational update are unaudited, in respect of which the directors assume full responsibility.
| KAGEM MINING LINKEDIN | |
| MONTEPUEZ RUBY MINING LINKEDIN |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.