Gemstones - Copperbelt Katanga Mining

Zambia Launches a Gold Mining Strategy

October 20, 2020October 20, 2020 arnbethnic

The Zambian government has launched the export diversification strategy for gold and gemstone to formalise artisanal small-scale mining and trading activities. This is envisaged to generate revenue from precious metals. Launching the strategy yesterday, Minister of Mines and Mineral Development Richard Musukwa said Zambia has reported increase in gold occurrences in the subsector mainly exploited by artisanal and small-scale miners who mostly operate illegally. “Gold is smuggled out of the country mostly by foreign nationals without paying any revenue, thus denying the country of the much-needed revenue,” Mr Musukwa said.… Read More Here

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Gemfields to experience large loss as pandemic hits auctions

September 16, 2020September 16, 2020 admin1 Comment

Precious gemstones miner Gemfields announced an expected swing to an interim net loss for the six months ended on June 30 as the company had only been able to hold one sale due to the covid-19 pandemic. The company, which returned to the London Stock Exchange’s market for juniors in February, expects to report a net loss after tax of $56.7 million in the first half of 2020. The figure sharply contrasts with the $12.4 million profit reported during the same period last year. Gemfields cancelled auctions originally scheduled for May, June and August due… Read More Here

Gemstones Emeralds Mining in Zambia

Gemfields warns of bleak second-half

August 3, 2020August 3, 2020 arnbethnic

Gemstone miner Gemfields has warned of bleak conditions for the remainder of this year, as the spread of Covid-19 continues to impact on the group. “Conditions remain very challenging for Gemfields and for the wider gemstone sector. The effect of travel restrictions, quarantine periods and prohibitions on large gatherings, combined with rising Covid-19 infection rates in our African host nations and in India − our key market for rough emeralds – mean that conditions presently look bleaker rather than better for the remainder of 2020. “There remains considerable uncertainty as… Read More Here

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Global Diamond Mining Industry | The Way Forward 2020

March 31, 2020 arnbethnic

Alrosa and DeBeers are the two companies that share half of the world’s diamond supply. Whether you have ever owned an actual piece of diamond jewelry or not, you have probably heard about the dark history of the diamond trade. The concept of a blood diamond came from different parts of the African continent where diamond mining companies were exploiting workers and entire communities for profit. People have been suffering in gruesome conditions, and human rights organizations are still in the fight to end this issue. While… Read More Here

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Kagem Emerald Mine Lockdown Due to COVID-19

March 31, 2020March 31, 2020 Copperbelt Katanga News

Kagem Mining has stopped operations at its emerald mine in Lufwanyama to protect employees during the coronavirus pandemic. “The wellbeing of Kagem’s employees and communities is our top priority. As a result, all but critical operations at the Kagem Emerald Mine have been suspended for a maximum of one month from March 30, 2020, ”said Dr. Sixtus Mulenga, Board Chairman of Kagem. Almost 1,000 people work at Kagem, which is operated by Gemfields in collaboration with the Zambian government through the Industrial Development Corporation, which owns 25% of the business.… Read More Here

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Gemfields lists on London Stock Exchange

February 19, 2020February 19, 2020 arnbethnic

The Gemfields Group, which, in collaboration with the Zambian government, owns the Kagem Emerald Mine in Lufwanyama, has returned to trade and listed its shares on the AIM market of the London Stock Exchange on February 14, 2020 after 3 years. The listing is the latest demonstration of Gemfields’ ethos of transparency, legitimacy, and integrity that allows a wider reach of international investors to directly participate in Gemfields, which owns 75% of the Kagem Emerald concession in Lufwanyama, with 25% in Government owned by the Industrial Development Corporation (IDC). Sean… Read More Here