Zambian and Mozambican presidents compliment Kagem and MRM’s economic impact and youth investment
The economic impact of the mining sector in Zambia and Mozambique was highlighted at the Mozambique-Zambia Business Forum in Beira, when President Hakainde Hichilema of Zambia and President Filipe Jacinto Nyusi of Mozambique visited the joint presentation of Kagem Mining and Montepuez Ruby Mining (MRM).
The Business Forum event aims to accelerate trade and investment between Zambia and Mozambique, strengthening partnerships between both countries.
Kagem and MRM had the opportunity to share with both presidents the social impact that these mining operations have in Lufwanyama, Zambia and Montepuez, Mozambique respectively, where they have contributed a total of ZMW166 million (USD 8.5 million) in projects to benefit local communities in addition to the unprecedented contribution that coloured gemstones have made of ZMW7.2 billion (USD 371 million) in taxes, royalties and dividends to both countries.
This was an unprecedented event, in that it is the first time that the president of a country that is home to one of the world’s single largest producer of emeralds (Zambia) met with the president of a country that is home to the world’s biggest ruby producers (Mozambique), highlighting the relevance of the mining sector to their countries.
“The knowledge sharing in the mining sector crucial. With the needed knowledge, mining sector can generate major income and improve the lives of our communities”, said President Nyusi.
During his visit to Kagem and MRM’s stand, the President Nyusi highlighted that it was great to see both companies had young people front facing and leading the exhibition.
During his speech, President Hichilema addressed Gemfields, which operates the two mines in partnership with local organisations, saying: “We visited Gemfields’ stand and I am sure that you are proud that Zambia is the leading producer of emeralds, overtaking Colombia, and that Mozambique is also a leader on ruby production”.
Gemfields strives to be the partner of choice for African host governments seeking to make the most of their coloured gemstones resources. With Gemfields as a partner, both governments are now the #1 exporters in the world of these mineral resources.
