GEMFIELDS GROUP LIMITED

GEMFIELDS GROUP LIMITED Organogram

Gemfields Group Ltd is an investment holding company focusing on the mining of platinum group metals (PGM\'s) and coloured gemstones. The group currently has mining interests in Zambia, Mozambique, South Africa, and Ethiopia.\r\n\r\nGemfields owns 75% of Web Gemstone Mining (WGM), a company that holds a 148.6-square-kilometre emerald exploration licence in southern Ethiopia. Exploration activity began in June 2015 in an area to the north of the licence, called the Dogogo Block. The area was selected based on favourable geological settings and evidence of past artisanal activity.\r\n\r\nGemfields operates and owns 75% of both the Kagem emerald mine in Zambia and the Montepuez ruby mine (“MRM”) in Mozambique and also holds controlling interests in various other gemstone mining and prospecting licences in Zambia, Mozambique, Ethiopia and Madagascar.\r\n\r\nThe company owns The MRM Mozambique (Montepuez Ruby Mining Limitada), which is located in Cabo Delgado Province in northeastern Mozambique, approximately 170 kilometres west of Pemba. The single mining licence 4703C Ref. 1588/CM/ INAMI/2015 covers an area of 34,996 hectares and is valid until 11 November 2036. The MRM is shallow open-pit Ruby and Corundum mine with a current life of mine of 6 years to 2029 and is 75% owned by Gemfields and 25% by Mwiriti Limitada, a local partner. \r\n\r\nThe Group owns 6.54% of Sedibelo Resources Limited (previously Sedibelo Platinum Mines Limited) (“Sedibelo” or “SPM”), a producer of platinum group metals (“PGMs”) with interests in the Bushveld Complex in South Africa. \r\n\r\nOriental Mining SARL in Madagascar, a 100% subsidiary of Gemfields, holds a number of concessions for a range of minerals, including emerald and sapphire, which have been in compliance with all statutory and regulatory obligations. Gemfields is planning to commence preliminary investigation on several permits in the next financial year. (on hold due to Covid-19 conditions)\r\n\r\nThe Group has been organised into geographic units and business units based on the products and services and has the following reportable segments:\r\n• Zambia - emerald- and beryl-mining activities\r\n• Mozambique - ruby- and corundum-mining activities\r\n• PGMs - the Group’s investment in Sedibelo Platinum Mines Ltd\r\n• Corporate - sales of cut and polished gemstones, marketing, and technical and administrative services\r\n• Faberge - wholesale and retail sales of jewellery and watches\r\n• Other - new projects, traded auctions, and sales and marketing offices