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Emerald mini-auction held during The 2 November to 11 December 2020   Gemfields announce the results of its series of five small and sequential emerald auctions held during the period 2 November 2020 – 11 December 2020.   The mini-auctions comprised of a selection of grades that are typically offered at Kagem’s auctions of higher quality emeralds. Selected lots were made available for in-person and private viewings by customers in Tel Aviv, Singapore and Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and permitting customers from multiple jurisdictions to participate in a sealed-bid process.   The emeralds were extracted by Kagem Mining Ltd in Zambia (“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 o

Overall average value Earned USD 4.39 per carat Gemfields announces the result of an auction of predominantly commercial quality rough emerald held in Lusaka, Zambia in February 2019. The emeralds were extracted by Kagem Mining Ltd in 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 31 auctions of Kagem gemstones held since July 2009 have generated USD 567 million in total revenues The auction saw 24 companies placing bids, generating total revenues of USD 10.8 million with an overall average value of USD 4.39 per carat. The auction saw 59% of the offered carats being sold. Gemfields’ 31 st : auctions of emeralds and beryl mined at Kagem since July 2009 have generated USD 567 million in total revenues. The specific auction mix and the exact quality of the lots offered at each auction vary in character

The glamour of the red carpet at Cannes or Hollywood is a far cry from the hot and dusty pit of the world’s single largest producing emerald mine, Kagem in Lufwanyama. But for the team at the mine, the excitement of seeing Zambia’s emeralds on the world stage makes their job worthwhile. For one of the mine’s longest serving employees, Senior Manager for Planning and Surveying, Aaron Nyangu, it is the culmination of years of training, experience and hard work that he is now passing on to the next generation of mining engineers. “I feel proud to see those celebrities wearing our emeralds from Kagem. It’s a great feeling,” said Mr Nyangu enthusiastically. “I call Kagem the place where I grew up. I’ve grown up with the pit. I came here when I was in my early 30s, brought here by the then general manager. Prior to 2008 when Gemfields took over from the predecessors, the pit was not as big as it is now. We used to move between 80,000 and 100,000 tonnes a month; now we are mo