LE BRIEF

South Africa: Gem Resources announces conditional Gravelotte sale as it shifts towards gold

LE BRIEF • 2026-10-29

The agreement provides a US$1.7 million fixed price and a 5% royalty on rough emerald sales, for potential total consideration of US$2.4 million. Completion remains conditional and has not yet been secured.

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LE BRIEF — Thursday, 29 October 2026 edition By the LE BRIEF newsroom Country : South Africa Source publication: 28 October 2026 Event : Agreement signed on 27 October 2026 and announced on 28 October. Emeralds: supplied illustrative photograph. The stones’ provenance has not been certified as Gravelotte. Gem Resources announced on Wednesday, 28 October 2026 a conditional agreement to dispose of its interests in the Gravelotte emerald mine in South Africa’s Limpopo province. The transaction provides for transfer of its interest in Gem Venus Holdings to Global Gem Mines. The fixed price is US$1.7 million, alongside a royalty linked to future emerald sales. The agreement was signed on 27 October, before its regulatory publication the following day. Fixed consideration and a variable component Gem Resources will retain a 5% royalty on gross revenue from rough emeralds mined and sold from Gravelotte for up to two years after completion. Under the announced terms, the variable component is capped at US$700,000. Potential aggregate consideration can therefore reach US$2.4 million. This is not money fully received at signing: payments and royalties are governed by the contractual timetable and provisions. Reallocating capital towards gold processing The company wants to concentrate resources on gold-processing activities. The repositioning is intended to revise capital allocation an...