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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, 11 SEPTEMBER 2026
Gemfields announces the results of an auction comprised of commercial-quality rough emeralds
held during the period 24 August - 10 September 2026.
Highlights: September 2026 Commercial-Quality Emerald Auction
• Total auction revenues of USD 29.6 million
• 44 lots were offered for sale and all 44 were sold (100%)
• Average realised price of USD 9.72 per carat
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented:
“It has been nine months since our last commercial-quality emerald auction, and I am particularly encouraged by
this robust result. Viewing activity in Jaipur was intense throughout the auction, reflecting a high level of customer
engagement, with very positive feedback regarding both the quality of the emeralds and the composition of the lots
offered.
This result demonstrates continued strong demand for commercial-quality emeralds and reflects the solid production
performance delivered by Kagem over the past year.
Our sincere thanks go to the entire Kagem mining team for their dedication and hard work, to our government
partner, Zambia’s Industrial Development Corporation, for its continued support, and to our customers for their
ongoing confidence in Kagem’s emeralds. We wish them every success during the forthcoming international gem and
jewellery show season.”
The auction lots were made available for private, in-person viewings by customers in Jaipur, India.
Following the viewings, the auction took place via an online auction platform specifically adapted
for Gemfields and which permits 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 ’24 Aug-Sep ’24 Apr ’25 Nov-Dec ’25 Aug-Sept ’26
(COMMERCIAL Auction Auction Auction Auction Auction
QUALITY)
5 - 22 Mar 27 Aug - 13 11 - 29 Apr 17 Nov – 04 24 Aug – 10
Dates
2024 Sep 2024 2025 Dec 2025 Sep 2026
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 4,171,375 3,978,450 3,029,690 3,656,830 3,047,650
Carats sold 3,854,950 2,423,550 2,388,190 3,406,830 3,047,650
No. of
companies 50 39 50 55 63
placing bids
No. of lots offered 43 46 36 46 44
No. of lots sold 40 28 32 45 44
Percentage of lots
93% 61% 89% 98% 100%
sold
Percentage of
lots sold by 92% 61% 79% 93% 100%
weight
Total sales
USD 17.1 USD 10.8 USD 16.4 USD 25.4 USD 29.6
realised at
million million million million million
auction
Average per USD USD USD USD USD
carat sales value 4.45/carat 4.47/carat 6.87/carat 7.46/carat 9.72/carat
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.
-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 David Lovett / Heinrich Richter
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 press@gemfields.com
HEAD OFFICE, LONDON T: +44(0) 20 7518 3400
NOTES TO EDITORS
About Gemfields Group Limited
Gemfields is a world-leading miner of coloured gemstones, dual-listed on the Johannesburg and
London AIM stock exchanges.
Gemfields is the operator and 75% owner of both Kagem Mining in Zambia (a world-leading
emerald mine) and Montepuez Ruby Mining in Mozambique (situated on one of the most
significant recently discovered ruby deposits in the world). In addition, Gemfields holds controlling
interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique and
Madagascar.
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.COM | INVESTORS | FOUNDATION | INSTAGRAM | FACEBOOK | X | YOUTUBE
KAGEM MINING LINKEDIN | FACEBOOK
MONTEPUEZ RUBY MINING LINKEDIN | FACEBOOK
Date: 11/09/2026 08:00:00
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