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Category: Emeralds

Gemfields anticipates more than 50% increase in net profit 1 Gemstones Emeralds Mining in Zambia 

Gemfields anticipates more than 50% increase in net profit

Copperbelt Katanga News,
Gemfields believes it is reasonably certain that its net profit after tax will be US$56.7 million for the six months ending 30 June 2022, comparative to a six-month period of US$23.8 million. Gemfields’ two key operating assets, MRM and Kagem, generated revenues of US$95.6 million and US$85.2 million respectively during the six-month period to 30 June 2021. 2022 saw the group return to its normal auction schedule of two emerald auctions and one ruby auction in the first half of the year. Following on from the strong auction results in… Read More Here
Kagem emerald mine employs its first female heavy equipment operators  2 Mining in Zambia Emeralds Gemstones 

Kagem emerald mine employs its first female heavy equipment operators 

arnbethnic
LUFWANYAMA, ZAMBIA – Four Zambian women have taken their seats behind the wheel of heavy equipment trucks at the Kagem emerald mine in Lufwanyama – the first women to take on the traditionally male-dominated job at the mine. The move is the latest development at the world’s single largest producing emerald mine, which prides itself on producing responsibly sourced gemstones under its ethos of transparency, legitimacy, and integrity. “We welcome our newest recruits to the mine and are confident they will perform well as part of our team of hard-working operatives who… Read More Here
Copperbelt Minister tours Kagem 3 Emeralds Mining in Zambia 

Copperbelt Minister tours Kagem

arnbethnic
LUFWANYAMA, ZAMBIA – The Copperbelt Province Minister Hon. Elisha Matambo undertook a familiarisation tour of Kagem Mine in Lufwanyama District recently. The minister, who was accompanied by the Copperbelt Province Permanent Secretary Augustine Kasongo and other officials, was impressed with Gemfields’ investment in the emerald mine and applauded its management’s professionalism.  Meanwhile, Kagem Mine General Manager Mr. Sanjeev Kumar noted that the mine’s CSR expenditure had made a significant difference to the lives of people in the communities around the mine. He added that the company also plans to build a… Read More Here
Kagem renews support for the Copperbelt University<br> 4 Mining in Zambia Emeralds Environment Social Governance (ESG) 

Kagem renews support for the Copperbelt University


arnbethnic
KITWE, ZAMBIA – Further consolidating its goal of providing support for the most critical social sectors in Zambia, such as education, Kagem Mining Ltd has signed a Memorandum of Understanding (MoU) with the Copperbelt University (CBU) to ensure its continued support for the university through a scholarship programme, amongst other forms of assistance. Through the MoU, Kagem will provide scholarships to students from CBU’s School of Mines and Mineral Sciences that will cover tuition fees, medical, upkeep and book allowances, while also providing the university with staff assistance, equipment, consultancy, industrial projects,… Read More Here
Emeralds for Zambia 5 Emeralds Mining in Zambia 

Emeralds for Zambia

Janet
The global shutdowns following the outbreak of Covid-19 threw a spanner in the works for companies in virtually every industry. But, when a company’s only means of selling their products is getting 150 people into an auction room for five days, it spelled disaster. For international gemstone miner Gemfields – which owns 75% of Kagem Emerald Mine, located 33km south-southwest of Kitwe in Zambia’s Copperbelt Province – sales dropped to nearly zero. Now, with the gavel once again pounding in international auction rooms and revenues climbing, the standstill of the pandemic has… Read More Here
Gemfields achieves record revenue for sold out March/April auction 6 Gemstones Emeralds Mining in Zambia 

Gemfields achieves record revenue for sold out March/April auction

Janet
Gemfields recorded a record $42.3-million in revenue from the sale of emeralds sourced from its Kagem mine in Lufwanyama. This was at auctions of its predominantly commercial-quality rough emeralds held in Jaipur, India, from March 15 to April 1. Of the 32 lots offered – 4.52-million carats in total – all were 100% sold out. Fifty-six companies placed bids and an average price of $9.37/ct was achieved – another record for Kagem’s commercial-quality auctions. Forty such auctions of Kagem-sourced gemstones (emeralds and beryl) hosted by Gemfields since July 2009 have… Read More Here
Gemfields achieves record revenue for sold out March/April auction 7 Emeralds Mining in Zambia 

Gemfields achieves record revenue for sold out March/April auction

Janet
Gemfields recorded a record $42.3-million in revenue from the sale of emeralds sourced from its Zambia-based Kagem mine, at auctions of predominantly commercial-quality rough emeralds held in Jaipur, India, from March 15 to April 1. Of the 32 lots offered – 4.52-million carats in total – all were 100% sold out. Fifty-six companies placed bids and an average price of $9.37/ct was achieved – another record for Kagem’s commercial-quality auctions. Forty such auctions of Kagem-sourced gemstones (emeralds and beryl) hosted by Gemfields since July 2009 have generated $792-million in revenue. Gemfields notes that the proceeds of… Read More Here
Gemfields emphasizes importance of stepping up efforts to combat illegal trade 8 Mining in Zambia Emeralds Gemstones 

Gemfields emphasizes importance of stepping up efforts to combat illegal trade

Janet
An analysis of existing data on the supply of rubies and emeralds, according to gemstone miner Gemfields, reveals the “alarming” extent to which host-mine countries are being robbed of the true value of their coloured gemstone resources. Artisanal mining, both formal and informal, extracts the vast majority of coloured gemstones, according to Gemfields, for which there are few reporting standards. Furthermore, coloured gemstones are frequently sourced from countries with lax reporting regulations. As a result, it emphasizes the importance of stepping up efforts to combat illegal trade. These, and other… Read More Here
Zambian emeralds to go on auction on Nov 23 9 Emeralds Mining in Zambia 

Zambian emeralds to go on auction on Nov 23

Janet
International auction house Phillips will, this month, put on sale the largest collection of Zambian emeralds ever to be offered on auction. Part of the proceeds will go to the Gemfields Foundation, which supports community and conservation projects in Africa. The Treasures of Zambia: An Exceptional Emerald Collection comprises about 45 lots, including 993 ct of fine Zambian emeralds. The gemstones were mined by Gemfields, which owns the Kagem emerald mine together with the Zambian government. Phillips features some of the world’s most important twentieth-century and contemporary works of art, design jewels, watches, photographs and editions. The auction house is… Read More Here
Gemfields swings to profit after reopening mines 10 Gemstones Emeralds Mining in Zambia 

Gemfields swings to profit after reopening mines

Janet
Precious gemstones miner Gemfields (LON: GEM) (JSE: GML) has swung to a first-half net profit after it reopened mines and demand for its emeralds and rubies surged.  The company, which returned to the London Stock Exchange’s market for juniors last year, posted a $23.8 million net profit, which compares to a loss of $56.7 million in the same period last year as revenue increased 548% to $97.2 million.  Gemfields, which operates the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique said half year revenues rose from $15,000 to $97,236.  ‘WE ARE DELIGHTED TO ANNOUNCE OUR RETURN TO STRONG OPERATIONAL AND FINANCIAL PERFORMANCE AFTER THE COVID-INDUCED HORRORS OF 2020″ “We are… Read More Here

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