Gemstones - Copperbelt Katanga Mining

Kagem signs 2022-2023 collective agreement with Zambian unions

January 26, 2022January 26, 2022 admin

Kagem Mining has signed a collective agreement with unions under which unionised employees will receive a 10% increase in basic salary for 2022, followed by a further 10% increase for 2023 across the board and those sitting between the grade notches will move up to the next notch. The company is owned 75% by London-based Gemfields in partnership with the Industrial Development Corporation (IDC), which holds 25% on behalf of the Zambian Government. The collective agreement, which has been approved by the Labour Commissioner (Lusaka), followed successful negotiations between management… Read More Here

Gemstones Mining in Zambia

Kagem optimistic about Zambia’s gemstone future

January 11, 2022January 11, 2022 admin

Gemstone miner Kagem Mining has reinforced the Zambian government’s optimistic outlook for the future of Zambia’s gemstone and wider mining sector. Kagem on January 7 hosted Mines and Minerals Development Minister Paul C Kabuswe at its mine site in Lufwanyama as he toured the gemstone-rich district to gain a better understanding of the operations and activities in the area. The Kagem emerald mine is 75%-owned by London-listed Gemfields, in partnership with the Zambian government’s Industrial Development Corporation (IDC), which owns 25%. Kabuswe noted that now more than ever – and in light… Read More Here

Mining in Zambia Gemstones

Kagem spearheads new transparency measure on tax

January 10, 2022January 11, 2022 admin

Gemfields, which operates the Kagem emerald mine in Lufwanyama, is inviting governance bodies, mining organisations, industry observers and host governments to adopt the ‘G-Factor for Natural Resources’. This is a new measure promoting greater transparency regarding the level of natural resource wealth shared with the governments of host countries. The G-Factor for Natural Resources is intended to be an uncomplicated indicator of the percentage of a natural resource company’s revenue that is paid to the host country government in primary and direct taxes, plus – where the host government is… Read More Here

Gemstones

Gemfields earns record revenues at latest Montepuez ruby auctions

December 10, 2021January 5, 2022 admin

Gemstone miner Gemfields’ latest series of mini-auctions for rubies mined at the Montepuez mine, in Mozambique, has generated a record $88.4-million in revenue. Of the 107 lots on offer during the seven mini-auctions, held between November 8 and December 9, 104 were sold. The average price achieved was $132.47/ct. “This has been the strongest ruby auction in Gemfields’ history and we’re very pleased with the trajectory and growth of the downstream ruby sector. Professionalised and dependable supply has always been the key to unlocking growth. “The strength of the results we’ve seen this week for… Read More Here

Gemstones Mining in Zambia

Gemfields’ latest emerald auctions generate a record $37.9m in revenue

December 8, 2021December 12, 2021 admin

A series of five emerald mini-auctions in November and December has generated a record $37.9-million in revenue for gemstone miner Gemfields. All carats on offer were sold and the emeralds, produced at the company’s 75%-owned Kagem mine, in Zambia, were sold for an average of $150.65/ct. Among the emeralds on auction was the 7 525 ct Chipembele emerald recovered at the Kagem mine. It is the largest emerald ever to be recovered at the mine. Longstanding Kagem customer Eshed-Gemstar bought the Chipembele emerald. “Our end-of-year emerald auction has been one of the most hotly contested… Read More Here

Gemstones Mining in Zambia

Gemfields finds largest emerald ever at Zambia mine

November 9, 2021November 9, 2021 admin

Africa-focused Gemfields has found the largest emerald ever mined at its Kagem mine in Zambia — a 7,525-carat (1,505g) gemstone named Chipembele, which means “rhino” in the local dialect of Bemba. While no official record exists, it is extremely unusual to encounter a gemstone weighing more than 1,000 carats and only a couple of dozen unique enough to deserve their own name. The last time a comparable emerald was found was in 2018, when Gemfields unearthed the 5,655-carat Inkalamu, meaning “lion”. Prior to that, the company had dug up a 6,225-carat emerald in 2010, which… Read More Here

Gemstones Emeralds Mining in Zambia

Gemfields swings to profit after reopening mines

September 24, 2021September 26, 2021 admin

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

Mining in Zambia Covid-19 Gemstones

Gemfields records strong six-month performance

September 16, 2021September 16, 2021 admin

JSE-listed Gemfields expects to report a net profit after tax of $23.8-million for the six months to June 30, compared with the $56.7-million net loss after tax reported for the comparative six-month period in 2020. In rand terms, the net profit after tax is expected to be R346-million. Earnings a share are expected to be $0.02 or R0.24. Gemfields’ two key operating assets, the Montepuez ruby mine, in Mozambique, and the Kagem mine, in Zambia, generated revenues of $58.9-million and $31.2-million, respectively, during the period. Gemfields reiterates in a trading… Read More Here

Gemstones

Top 10 Most Valuable Gemstones in The World

September 6, 2021January 15, 2026 Chilombo MahambaGemstones

Gemstones are some of the earth’s most exquisite natural treasures. People all over the world have appreciated them throughout history, for different reasons. While they are most commonly used as decorative ornaments, they are also known for their religious symbolism. Such gemstones have always been valued for their supposed healing powers too. Whether it be a diamond, ruby, or sapphire, all gemstones possess a distinct beauty. It makes each special in its own way. Despite this, the fact is that some gems are rarer than others. That’s a factor that significantly impacts their value of… Read More Here

Gemstones Rare Earth Minerals You got to know this

Chrysoberyl: One of the World’s Most Exotic and Expensive Gems

September 4, 2021September 4, 2021 Chilombo MahambaGemstones

The mineral or gemstone chrysoberyl is an aluminate of beryllium with the formula BeAl2O4. Despite the similarity of their names, chrysoberyl and beryl are two completely different gemstones, although they both contain beryllium. Chrysoberyl is the third-hardest frequently encountered natural gemstone and lies at 8.5 on the Mohs scale of mineral hardness, between corundum (9) and topaz (8). Chrysoberyl belongs to the orthorhombic crystal system, forming with tabular crystals in slender prisms. Crystal twins and triplets are quite common. Common chrysoberyl is colored by iron, while color change varieties obtain their color through chromium.… Read More Here