Emeralds - Copperbelt Katanga Mining

Gemfields' November Emerald Auction Nets $16.1 Million Amid Market Challenges 1

Gemfields has reported revenues of $16.1 million from its November 2024 higher-quality emerald auction. The auction, held online from November 4–21, achieved a 70% sales rate, with 141,084 carats sold out of the 200,460 carats offered across 43 lots. The average price per carat was $113.96, reflecting mixed market dynamics. Adrian Banks, Managing Director of Product & Sales at Gemfields, acknowledged the auction’s mixed outcomes: “Top-quality lots achieved bids close to record levels, but the overall result was disappointing due to weaker and fewer bids for lower-quality grades.” The emerald… Read More Here

Mining in Zambia Emeralds Infrastructural Development Press Release

Kagem Mining Limited Funds Groundbreaking of Chapula Polytechnic, Zambia’s First Official Polytechnic

June 8, 2024June 8, 2024 Constance

Today, the Minister of Technology and Science, Hon. Felix Mutati, MP, led the groundbreaking ceremony signalling the start of construction work for Chapula Polytechnic in Lufwanyama – Zambia’s first official polytechnic. The ceremony demonstrates Kagem Mining Limited (Kagem)’s commitment to fulfilment of the Memorandum of Understanding (MoU) it signed with the Government in September 2023, in which the mine committed to the construction of the centre at an estimated cost of ZMW 52.5 million (USD 2.5 million). The centre will aim to provide local people from Lufwanyama and other areas surrounding… Read More Here

Mining in Zambia Emeralds Press Release

Gemfields aids authorities in securing prison sentences for bribery totalling 5 years 9 months

May 16, 2024May 16, 2024 Constance

The former chief of staff to Andry Rajoelina, the President of Madagascar, was jailed for three and a half years by a London court on Friday 10 May 2024 for soliciting a bribe from Gemfields, the 75% owner of Kagem Mining Ltd. The former chief of staff, Romy Andrianarisoa (47) and her French accomplice, Philippe Tabuteau (54) sought nearly USD 300,000 by wire transfer plus 5% of any Gemfields mining operation in Madagascar in return for assisting Gemfields in establishing a gemstone joint venture in the country. Tabuteau, who had… Read More Here

Mining in Zambia Emeralds Press Release

Kagem Mining welcomes national drive to upskill workforce

May 8, 2024May 8, 2024 Constance

LUFWANYAMA, ZAMBIA – On May 1, Kagem Mining Limited (Kagem) took part in the joint Labour Day celebrations, held at the Lufwanyama Boarding School Hall, which brought together representatives from government, mining companies, trade unions, as well as others operating in Lufwanyama, demonstrating its solidarity with the broader labour community across the district. At the occasion, Kagem welcomed the government’s call to bolster productivity in the workplace through continuous improvement and upskilling of staff to create an increasingly capable workforce. The Lufwanyama’s District Commissioner, Mr. Justin Mwalikwa, said, “In an… Read More Here

Mining in Zambia Economy Emeralds

Gemfields Auction Yields USD 17.1 Million in Commercial-Quality Emeralds

April 21, 2024April 21, 2024 Constance

Gemfields has concluded another successful auction of commercial-quality rough emeralds, held from March 5 to March 22, 2024. The auction, conducted by Gemfields’ subsidiary Kagem in Zambia, generated total revenues of USD 17.1 million, with 40 out of 43 lots sold, achieving a remarkable 93% sales rate. Key Highlights: .Total auction revenues reached USD 17.1 million. .43 lots were offered, with 40 lots successfully sold, accounting for a 93% sales rate. .The average price per carat stood at USD 4.45. .Since July 2009, Kagem auctions have amassed total revenues of… Read More Here

Mining in Zambia Emeralds Gemstones

Women Break Ground in Heavy Machinery Operation at Kagem Mining

February 16, 2024February 16, 2024 Constance

In a revolutionary shift towards gender diversity and inclusion, Kagem Mining is rewriting the narrative of women in the mining industry. What was once considered an unconventional sight—women skillfully maneuvering heavy-duty machinery—is now becoming a norm at the emerald mine, challenging traditional gender stereotypes and fostering an environment of empowerment. The journey towards inclusivity began in 2022 when Kagem welcomed four female heavy equipment operators into its workforce. Since then, the mine has made remarkable strides, recently incorporating an additional 11 female operators, totaling 14 women in this role alone.… Read More Here

Mining in Zambia Diamond Emeralds Precious Stones

Zambia Tops Global Emerald Production but Faces Local Industry Dilemma

December 15, 2023December 15, 2023 Constance

Amidst Cheers and Conundrums in Emeralds Zambia claims the crown in global emerald production, marking a milestone in President Hakainde Hichilema’s tenure. This success, however, is shadowed by a perplexing issue: local companies in Zambia are unable to acquire these precious stones from their homeland. The enigmatic reasons behind this oddity cast uncertainties on the gemstone market and the Zambian economy. While Zambia revels in its emerald prowess, the inability of domestic companies to secure these stones poses a dilemma. This paradox poses a threat to the growth of the… Read More Here

Mining in Zambia Emeralds Gemstones

Emeralds and rubies continue to give Southern Africa exceptional gemstone hues

October 5, 2023October 5, 2023 Constance

Southern Africa continues to dazzle the world with its stunning gemstones, as the lush green emeralds of Zambia and the fiery red rubies of Mozambique paint a vibrant picture of the region’s rich mineral wealth. Zambia’s emeralds, some of the oldest on our planet, owe their mesmerizing green hue to a geological dance that unfolded over 500 million years ago. The intricate interplay of beryllium, chromium, and vanadium during their formation is what bestows these emeralds with their vivid and alluring color. Meanwhile, Mozambique boasts a bountiful treasure trove of… Read More Here

Emeralds Mining in Zambia Mining tax

Kagem continues to spearhead transparency on tax in Zambia

February 27, 2023February 27, 2023 arnbethnic

Gemfields, which operates the Kagem emerald mine in Lufwanyama, has announced updated figures to the end of December 2022 for the ‘G-Factor for Natural Resources’, a measure promoting greater transparency regarding the level of natural resource wealth shared with the governments of host countries, whether from the mining, oil, gas, timber or fishing sectors, launched in July 2021. Gemfields once again invites governance bodies, mining organisations, industry observers and host governments to adopt the G-Factor for Natural Resources in order to improve transparency when it comes to the share of natural… Read More Here

Emeralds Mining in Zambia

Gemfield’s latest emerald auction included 37 kg “Kafubu Cluster”

November 21, 2022November 21, 2022 Johannsen

Gemfields has announced the results of an emerald auction comprising a series of five sequential mini auctions held during the period 30 October – 17 November 2022. The auction contained a selection of grades that are typically offered at Kagem Mining auctions of higher quality emeralds. In addition, the auction included a 37kg special interest piece called the “Kafubu Cluster”. The auction lots were made available for in-person and private viewings by customers in Bangkok. Following the viewings, the auctions took place via an online auction platform specifically adapted for… Read More Here