Gemfields Zambian unit, Kagem mine has contributed approximately US$107 million to the Zambian government in cumulative corporation taxes, mineral royalties and dividends. This means that almost 20 percent of Kagem’s revenues have flowed to the Zambian government in the last decade.
“We are excited because appreciation of Zambian emeralds is gaining momentum internationally given the uniqueness, clarity and transparency that is characteristic of the gemstones,” said Gemfields’ gemmologist, Elena Basaglia.
Basagalia told the Zambia Business Times – ZBT that Emeralds from Zambia’s Kagem Mine has continued to impress and capture the eye of some of the foremost gemstone buyers and jewelers around the world.
“Growing popularity of the ‘evergreen’ gemstones 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 Gemfields,” the mine has said.
Kagem, located on the Copperbelt 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 hu,e one of the most outstanding and unique stones to have come from the mine.
Kagem is 75% owned by Gemfields and 25% by the Industrial Development Corporation – IDC 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 the auctions.
