Discovered in 2009, Montepuez (Mozambique) is the world’s single largest ruby and corundum deposit. GEMFIELDS acquired a 75% interest in the concession in June 2011 from Mwiriti Lda. Montepuez Ruby Mining Lda (“MRM”) is the project operator and a joint venture between Gemfields and Mwiriti Lda. GEMFIEDLS released two documents on Montepuez by SRK Consulting.

• A CPR on the Montepuez Ruby Project, Mozambique by SRK Consulting Ltd: Montepuez CPR_Mining_Report.
• Montepuez Ruby Mine Maiden JORC Resource & Reserves Presentation: Gemfields_Montepuez_presentation.

According to the Reserves and Resources presentation:

• 16 million carats (“mct”) produced to date.
• To date a total of USD55 million has been invested , generating current total revenue of USD122 million.