Gemstones - Copperbelt Katanga Mining

Kagem emerald mine employs its first female heavy equipment operators

September 22, 2022September 22, 2022 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

Gemstones Mining in Zambia

Gemfields auction nets US$32.9 million

September 20, 2022September 20, 2022 admin

Gemfields has announced the results of an auction of predominantly commercial quality rough emeralds held from 31 August to 19 September 2022. The emeralds were extracted by Kagem Mining. The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction. The auction saw 44 companies placing bids, generating revenues of US$32.9 million with an overall average sales price of US$ 9.01 per carat, the second… Read More Here

Gemstones Mining in Zambia

Gemfields reports record 12-month auction revenue

July 27, 2022July 27, 2022 admin

Gemfields has reported record auction revenue of $330.3-million for the 12 months ended June 30. In a report on the company’s operating results and financial position for the period, released on July 27, Gemfields also reported $181.2-million in total auction revenues for the six months ended June 30, with all three auctions held in the period breaking previous records, the company said. At the end of the period, the company’s cash balance was $111.4-million, which excluded auction receivables of a further $81.1-million, while its gross debt balance was at $29.7-million.… Read More Here

Gemstones International Mining in Zambia

Gemfields share price soars by 7%

June 23, 2022June 23, 2022 admin

Gemfields’ stock soared nearly 7% on the JSE yesterday after the supplier of coloured gemstones said that its first ruby auction of the year brought in $95.6 million (R1.6 billion), the company’s all-time high auction income. In intraday trading on Monday, the shares were trading at R3.55. The Gemfields Group, headquartered in London and traded on the Johannesburg and London Stock Exchanges, specializes in emerald mining at the Kagem mine in Zambia and the Montepuez Ruby Mining (MRM) in Mozambique. According to the report, the ruby auction consisted of seven… Read More Here

Gemstones Mining in Zambia

Gemfields achieves highest ever revenue with May emerald auctions, netting $43.3m

May 30, 2022May 30, 2022 admin

A series of five sequential mini-auctions of emeralds held by gemstone miner Gemfields from May 9 to 26 saw all 38 lots on offer being sold and set a new record for the highest revenue and the highest average price per carat achieved, at $43.3-million and $155.90/ct, respectively. Gemfields has held 41 auctions of Kagem-sourced emeralds since July 2009, generating $835.3-million in total revenues. Besides the May auctions, Gemfields netted $37.8-million in revenue at auctions held during November 1 to December 6, where the average value amounted to $150.65/ct. Product and sales MD Adrian Banks says Kagem’s second… Read More Here

Gemstones Mining in Zambia

GEMSTAR CELEBRATES BREAKING A GUINNESS WORLD RECORDS

May 12, 2022May 12, 2022 admin

Gemstar is delighted to announce that they are the new GUINNESS WORLD RECORDS title holder for the Largest uncut emerald.The record was given to the largest high-quality emerald ever found at Gemfields’ Kagem mine in Zambia, the extraordinary 7,525-carat (1.505kg), single-crystal Chipembele. Chipembele is known as “the rhino emerald”, with Chipembele meaning rhino in the indigenous Zambian dialect of Bemba.Traditionally, only the rarest and most remarkable emeralds have been given names. It was with great pride that Eshed -Gemstar and Gemfields formally unveiled this accolade together at Gem Geneva, the… Read More Here

Gemstones Emeralds Mining in Zambia

Gemfields achieves record revenue for sold out March/April auction

April 20, 2022April 25, 2022 admin

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

Gemstones

Namibian cuprous oxide gemstone could hold key to quantum computers

April 19, 2022April 19, 2022 admin

New research led by the UK’s University of St Andrews found that a special form of light made using an ancient Namibian gemstone could be the key to new light-based quantum computers, which could solve long-held scientific mysteries. In detail, the study found that using a naturally mined cuprous oxide (Cu2O) gemstone from Namibia it is possible to produce Rydberg polaritons, the largest hybrid particles of light and matter ever created. Rydberg polaritons switch continually from light to matter and back again. In Rydberg polaritons, light and matter are like two… Read More Here

Mining in Zambia Emeralds Gemstones

Gemfields emphasizes importance of stepping up efforts to combat illegal trade

March 23, 2022March 23, 2022 admin

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

Mining in Zambia Gemstones

Gemfields to swing to net profit for 2021

March 22, 2022March 22, 2022 admin

London-listed Gemfields expects to swing to a net profit of $65-million for the year ended December 31, 2021, compared with a net loss of $93-million in the prior year. With the company’s two key operating assets, the Montepuez ruby mine and the Kagem emerald mine, in Mozambique and Zambia, respectively, having delivered record-breaking auction results during 2021, Gemfields expects to post earnings a share of $0.04 for the year. This compares with a loss a share of $0.07 for 2020. Gemfields’ auction schedule in 2020 was severely hampered by the… Read More Here