Gem Resources to Divest South African Emerald Mine

04:24 AM EDT, 10/28/2026 (MT Newswires) -- Gem Resources (GEMR.L) conditionally agreed to sell its entire stake in the Gravelotte emerald mine in South Africa for a potential aggregate consideration of up to $2.4 million. The deal includes a fixed purchase price of $1.7 million, payable in tranches, and a 5% gross royalty on revenue from rough emerald sales for two years after completion, capped at $700,000, the London-listed natural resources company said Wednesday. The transaction remains subject to regulatory approvals and other customary conditions.