Zambia re-introduces 15% export duty on emeralds 1 Mining in Zambia Economy Emeralds 

Zambia re-introduces 15% export duty on emeralds

Gemfields has become aware that a new statutory instrument in Zambia dated 30 December 2024 and which came into effect on 1 January 2025 (S.I. No. 88 of 2024, the Customs and Excise (Precious Stones) (Export Duty) (Suspension) (Revocation) Order, 2024) has revoked the 2019 suspension of a 15% export duty on precious gemstones. This directly impacts the Zambian emeralds mined by Kagem Mining Limited (“Kagem”) which is 75% owned by Gemfields and 25% owned by the Zambian Government’s Industrial Development Corporation. This 15% export duty now applies on top… Read More Here
Temporary Suspension of Mining Operations at Kagem Due to Damaged Emerald Market 2 Mining in Zambia Emeralds 

Temporary Suspension of Mining Operations at Kagem Due to Damaged Emerald Market

Kagem Mining Limited (“Kagem”) announces the temporary suspension of mining operations at Kagem. This decision is a direct consequence of disturbed emerald market dynamics arising from an oversupply of Zambian emeralds at discounted prices during the second half of 2024, compounded by conflicting emerald auction dates between the key Zambian emerald producers and giving rise to a destabilised Zambian emerald market outlook for at least the first half of 2025. These market dynamics are evidenced by the disappointing auction results from Kagem’s last commercial and higher-quality auctions held in September… Read More Here
Gemfields' November Emerald Auction Nets $16.1 Million Amid Market Challenges 3 Mining in Zambia Corporate News Emeralds 

Gemfields’ November Emerald Auction Nets $16.1 Million Amid Market Challenges

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
Kagem Mining Limited Funds Groundbreaking of Chapula Polytechnic, Zambia’s First Official Polytechnic  4 Mining in Zambia Emeralds Infrastructural Development Press Release 

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

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
Gemfields aids authorities in securing prison sentences for bribery totalling 5 years 9 months 5 Mining in Zambia Emeralds Press Release 

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

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
Kagem Mining welcomes national drive to upskill workforce 6 Mining in Zambia Emeralds Press Release 

Kagem Mining welcomes national drive to upskill workforce

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
Gemfields Auction Yields USD 17.1 Million in Commercial-Quality Emeralds 7 Mining in Zambia Economy Emeralds 

Gemfields Auction Yields USD 17.1 Million in Commercial-Quality Emeralds

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
Women Break Ground in Heavy Machinery Operation at Kagem Mining 8 Mining in Zambia Emeralds Gemstones 

Women Break Ground in Heavy Machinery Operation at Kagem Mining

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
Zambia Tops Global Emerald Production but Faces Local Industry Dilemma 9 Mining in Zambia Diamond Emeralds Precious Stones 

Zambia Tops Global Emerald Production but Faces Local Industry Dilemma

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
Emeralds and rubies continue to give Southern Africa exceptional gemstone hues 10 Mining in Zambia Emeralds Gemstones 

Emeralds and rubies continue to give Southern Africa exceptional gemstone hues

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

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