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Category: Gemstones

Zambia Introduces Cutting-Edge Digital System for Gemstone Oversight 1 Mining in Zambia Gemstones Precious Stones 

Zambia Introduces Cutting-Edge Digital System for Gemstone Oversight

Constance
Zambia takes a significant leap forward in gemstone management as the Ministry of Mines, in collaboration with the Zambia Revenue Authority (ZRA), introduces a cutting-edge online system for gemstone production reporting and export permits. This groundbreaking platform is set to revolutionize how the country oversees gemstone production reports and compliance processes. Hapenga Kabeta, Permanent Secretary of the Ministry of Mines, heralds the digital platform as a game-changer, poised to streamline gemstone production return filings and simplify permit applications within the sector. Dr. Kabeta envisions the system as a catalyst for… Read More Here
Kagem & Gemfields Foundation Donate Solar-Powered Lab and Classroom to Kapila Primary School 2 Mining in Zambia Corporate News Corporate social responsibility Gemstones 

Kagem & Gemfields Foundation Donate Solar-Powered Lab and Classroom to Kapila Primary School

Constance
Kagem Mining and Gemfields Foundation, the charitable arm of Kagem’s majority owner and operator – Gemfields, has handed over a newly constructed block with three classrooms and a fully equipped solar powered computer lab to Lufwanyama’s Kapila Primary School to enhance the quality of education in the area. The project, completed at a cost of approximately ZMW 6.9 million (USD 316,000), puts Kapila Primary School among the handful of educational institutions in the area offering computer lessons to its pupils. The ceremony was attended by local community members, pupils, school… Read More Here
Mozambique Forecasts a 38.8% Decline in Ruby Output for the Year 3 International Gemstones Precious Stones 

Mozambique Forecasts a 38.8% Decline in Ruby Output for the Year

Constance
The Mozambican government has warned that the country will miss its planned ruby production target this year. Output is expected to fall by almost 40% compared to 2022, when production of the stone reached 4.4 million carats. According to a report from the Ministry of Economy and Finance on the budget execution of the first semester, which Lusa accessed today, production data for three companies show that “the planned for the year will not be achieved 2023, with a decrease of around 38.83% expected”. This decline is explained by “the… Read More Here
Emeralds and rubies continue to give Southern Africa exceptional gemstone hues 4 Mining in Zambia Emeralds Gemstones 

Emeralds and rubies continue to give Southern Africa exceptional gemstone hues

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
Gemfields to triple processing capacity at Moz ruby mine 5 International Gemstones 

Gemfields to triple processing capacity at Moz ruby mine

Constance
Gemstone miner Gemfields’ 75%-owned Montepuez Ruby Mining (MRM) subsdiary has entered into a legally binding contract with specialist engineering group Consulmet to build an additional processing plant at MRM’s ruby mine in Mozambique. The addition of the second plant will triple MRM’s processing capacity from the existing 200 t/h to 600 t/h, allowing MRM to process its sizeable stockpile, bring to market additional size and colour variations of rubies and to assess and expand into additional mining areas. The contract is a lump-sum turnkey contract based on industry standard International Federation of Consulting Engineers terms. MRM’s payment obligations are agreed in… Read More Here
Kagem reaffirms commitment to its workforce  6 Mining in Zambia Gemstones 

Kagem reaffirms commitment to its workforce 

Constance
Kagem Mining, a world-leading gemstone miner, held last week its long service and Labour Day awards ceremony, reiterating its commitment to fostering a supportive environment for its dedicated workforce.The event, held at the mine site in Lufwanyama, saw distinguished government officials, Kagem board members, and employees come together to honour and celebrate the dedication and diligence of Kagem’s workforce. The ceremony recognized and rewarded 103 exceptional employees for their long-standing service and hard work.The guest of honour, Lufwanyama District Commissioner Justin Mwalikwa, commended Kagem’s significant role in the local community,… Read More Here
Gemfields Achieves Record Revenue in High-Quality Emerald Auction 7 Diamond Gemstones Mining in Zambia 

Gemfields Achieves Record Revenue in High-Quality Emerald Auction

Constance
Gemfields, a renowned supplier of precious gemstones, has revealed the astounding results of its recent emerald auction, featuring a selection of higher-quality rough emeralds. From 15 May to 1 June 2023, this auction achieved unprecedented success, setting new records and surpassing all expectations. The auction’s most remarkable achievement is the total auction revenues, which reached an all-time high of US$43.7 million. This extraordinary figure stands as a monumental record, representing the highest revenue ever attained in any Kagem emerald auction. Demonstrating the immense demand, all 35 lots offered were sold,… Read More Here
Gemfields resumes Mozambique operations after nearby attack 8 Gemstones 

Gemfields resumes Mozambique operations after nearby attack

admin
Precious stone miner Gemfields Group has resumed operations at its mine in Mozambique’s Cabo Delgado province, it said on Monday, after halting production last week when an attack was reported at a nearby facility. An Islamic State-linked insurgency in the northern Cabo Delgado province has claimed thousands of lives since 2017, disrupting multibillion-dollar natural gas and mining projects. Gemfields halted operations and evacuated non-security staff and contractors on Thursday after an attack attributed to insurgents was reported 12 km (7.46 miles) southeast of its Montepuez ruby mine in Cabo Delgado province. “Key… Read More Here
Gemfields halts Mozambique operations after attack at nearby ruby mine 9 Gemstones International 

Gemfields halts Mozambique operations after attack at nearby ruby mine

admin
Precious gem miner Gemfields Group has stopped operations at its Montepuez ruby mine in Mozambique’s Cabo Delgado province after an attack was reported at a nearby facility, it said on Thursday. “This morning, an attack attributed to insurgent activity has been reported at the neighbouring ruby mine belonging to Gemrock, which lies about 12 km south-east of the operations… in which Gemfields holds a 75% interest,” Gemfields said in a statement. Mozambique’s northern Cabo Delgado province has seen an Islamic State-linked insurgency that has claimed thousands of lives since it broke out in 2017, disrupting multibillion-dollar natural gas and mining projects. Gemfields said it… Read More Here
Gemfields anticipates more than 50% increase in net profit 10 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

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