Gemfields says operations could be hit by Mozambique unrest

(Sharecast News) - Gemfields said on Tuesday that there could be interruptions to its mining operations in Mozambique due to civil unrest. "On Monday 23 December 2024, the Mozambican Constitutional Council issued its decision regarding the October 2024 election," Gemfields noted, adding that news of the ruling has given rise to further unrest in Mozambique.

Gemfields has several operations in Mozambique's northernmost province of Cabo Delgado, the largest being Montepuez Ruby Mining Limitada in Mozambique (MRM), in which it owns a 75% share.

"The company's priority remains the safety and security of its employees, contractors and community members," it said.

"Based on the trajectory of the ongoing situation, there may be interruptions to MRM's mining operations resulting from this unrest."

Gemfields said that in the areas surrounding MRM, groups associated with the illegal mining and trading of rubies have taken advantage of the political unrest.