New shareholder helps to kickstart Sperrgebiet Diamond Mining

Sperrgebiet Diamond Mining (Pty) (SDM) is pleased to announce a majority equity investment by
Global Emerging Markets Group (GEM). SDM is a Namibian company that owns a combination of four
onshore and offshore diamond mining licences in the restricted diamond areas around Lüderitz. Its
mainland-based operation is located at Elizabeth Bay 40km south of Lüderitz.

Among other investments, the resources division of the GEM Group holds mining and energy assets
in Zimbabwe. The vision is to expand its footprint in these two sectors in Southern Africa and the larger
continent in the longer term. Their current African investments include a majority shareholding in
RioZim is one of the biggest gold producers in Zimbabwe. RZM Murowa which is one of the
world’s leading diamond producers is an affiliate of RioZim. The company also owns a base metal
refinery and an energy business unit focused on generating green energy and minimising the carbon
footprint of its mining operations. The group wishes to expand this portion of its business with its
newly acquired mining asset in Namibia.

SDM acquired the mining asset from Namdeb Diamond Corporation in October 2020 and invested in
the project through an environmental clean-up campaign and the care and maintenance of the
existing main processing plant with the aim to recommission it.

Additional capital investment has been solicited by the shareholders, culminating into a share sale
transaction between the Namibian shareholders being the founders, Lewcor Holdings and its minority
partners, David Sheehama, MSF Commercials, and the GEM Group.

The equity transaction was well received by the government of Namibia and received approval from
the Namibian Competition Commission and the Minister of Mines and Energy. The deal was finalised
on May 20, 2022, with GEM group subsidiary obtaining 78% of the shareholding and Namibian
shareholders retaining 22% inclusive of an Employees Trust of 2%.

In Q4 2022, the company is gearing up to start up operations at the historic production levels under
Namdeb. The immediate next aim is to double production by mid-2023 by implementing an infield
pre-treatment facility as the second phase. The company is amidst an aggressive recruitment drive,
aiming to employ up to 180 people by the end of 2022, with a further increase during phase two.
The shareholders, board, and management eagerly look forward to operations at SDM restarting and
for the company to become a sustainable development partner to the local community, the economy
of Lüderitz, and the country at large.

For more information please email marketing@sperrgebietdiamonds.com.