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May 18, 2024
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Emerald production boosts Zambia’s economy

Emeralds from Zambia’s Kagem mine continue to impress and capture the eye of some of the foremost gemstone buyers and jewellers around the world.

Growing popularity of the ‘evergreen’ gemstone from Lufwanyama is in part thanks to a growing love for the green gems but also the relentless passion for and promotion of the responsibly sourced gemstones by parent company.

“We are excited because appreciation of Zambian emeralds is gaining momentum internationally given the uniqueness, clarity and transparency that is characteristic of the gemstones,” says Gemfields’ gemmologist, Elena Basaglia.

Kagem is the world’s largest emerald mine and source of ‘Inkalamu’ – the ‘Lion Emerald’ – a 5 655 carat Zambian emerald crystal with remarkable clarity and a perfectly balanced golden green hue – one of the most outstanding and unique stones to have come from the mine.

Jewellery featuring Zambian emeralds includes Fabergé’s Lady Libertine II timepiece presenting a dial set with a central cabochon Kagem emerald, surrounded by hand-carved Kagem emeralds, set with white diamonds and mother-of-pearl, within a diamond set bezel and a manual-winding movement, encased in a 36, mm 18 carat white gold case.

Kagem is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia.

Proceeds from its regularly held auctions are fully repatriated to Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at an auction.

To date, Kagem has contributed approximately US$107 million to the Zambian government in cumulative corporation taxes, mineral royalties and dividends. This means that almost 20% of Kagem’s revenues have flowed to the Zambian government in the last decade.

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