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Thursday, November 26, 2020

Gemfields finds 1.1 kg emerald at Kagem in Zambia

Economy Gemfields finds 1.1 kg emerald at Kagem in Zambia

The Inkalamu (Lion) emerald-GEMFIELDS
The Inkalamu (Lion) emerald-GEMFIELDS

Gemfields, the world’s biggest emerald miner has found a gem that weighs more than 1.1 kilograms at its mine in Lufwanyama in Zambia.

The 5,655-carat stone found earlier this month at the Kagem mine will be sold at auction in Singapore in November, Gemfields Group Ltd. said in a statement.

The stone named Inkalamu is almost twice the size of the world’s biggest ever rough diamond, the Cullinan, discovered near Pretoria in South Africa in 1905.

Still, it’s unlikely to be worth anywhere near as much since large emeralds are far more common and are hard to value.

For years, Gemfields had a pineapple-sized emerald locked in a safe as it didn’t know how much it was worth.

Emerald prices have climbed in recent years as Gemfields boosted advertising in a bid to expand the market for the green stones.

Emeralds were previously mainly produced by artisanal miners, leaving retailers without a consistent supply.

Gemfields, which also produces rubies in Mozambique, was taken over last year by South African commodities investment firm Pallinghurst Resources Ltd.


    • The biggest precious stones industry is in anterwep, why are taking it to Singapore? I assure by the time it leaves Singapore shores it will be worth more than it left Zambia, Singapore will get more mulla for it than Zambia. WTF is wrong with us?

    • For years Zambia has not benefited fully from its gemstone wealth. Let’s change the policy. Take a leaf at Botswana. Gemstone alone can help Zambia develop.

  1. How much export duty was paid? = K0.00
    How much of the money will return back to zambia after it’s sold? = K0.00
    How much tax will be paid to ZRA? = K0.00

    That’s what happens when you have a disfunctional Govt.

    • @MALOZA – I think your perception is wrong. We are all crying that ZRA is killing us with TAXES and you are there saying that they don’t collect any REVENUE???
      Even simple Marketeers know how ZRA bites. When they carry katundu across the Border they pay TAX. When they bring amakwebo again they pay TAX at the Border. This is the reason why we have rampant SMUGGLING because people (sellers and buyers) avoid these TAXES.
      GEMFIELDS is a registered mining company hence it PAYS LOYALTIES to Zambian Government for to exist as a company. They will pay export TAX for the emerald and the receiving agent in Singapore will also pay IMPORT TAXES upon arrival based on the stipulated values of commodities.
      GEMFIELDS also pays NAPSA for its employees and collects PAYE TAX from its employees on behalf…

    • GEMFIELDS also pays NAPSA for its employees and collects PAYE TAX from its employees on behalf of Government.

  2. All indeginous ZAMBIANS will gain from this, is a big hole in the ground, & a mention in the books.
    All because we have leaders that think with their bellies first.
    What value does Zambia get from advisors like Freedom Sikazwe, who recently confessed to being ignorant that Cobalt, & other minerals are obtained as by products when Copper is extracted from the mines.

  3. It pains to know that this country is endowed with abundant wealth and yet 80% of the citizens wallow in perpetual poverty because of self imposed, dull and visionless governors. I am sure after seeing this picture they were clapping – Zambia! Zambia! Ubufutu fye bweka bweka.

    • @#4, I agree with you on how annoying it feels to know that our beloved country is endowed with much and yet our people don’t realise the benefit of it.
      Let’s encourage a change of mindset in the first instance. They say the journey of a thousand miles began by one step!

  4. Integrity is central to Gemfields’ and Kagem’ s business. All proceeds from the sale of Inkalamu, and all other emeralds auctioned in Singapore, will be repatriated to Zambia and the auction will be monitored by representatives from the Ministry of Mines, Ministry of Finance and the Zambia Revenue Authority.

    • Thank you for being proactive Kagem PR. While it remains to be seen (or not) if the proceeds of the sale will make it back to Zambia, I am just impressed that you are monitoring the social media posts about the gem and responding accordingly!. Makes me believe you are a responsive and genuine organization…which is rare in your industry!!

    • What integrity are you talking about you crooks.How much was the elephant “Insofu”auctioned?According to the information gathered the “Insofu” emerald was auctioned on an undisclosed price because it was taken as a specimen to show case the would be buyers.That’s how it disappeared and I don’t know if ZRA got any tax from the “Insofu”emerald.

  5. I once saw a purple emerald that weighed 2.6Kilos that an old man in our neighborhood had, after word got out he was murdered and the gem stolen.

  6. What we need is to export finished products not raw material. That our employment base will grow to some extent.

  7. Well said about the emerald mining at Kagem Mine,but did you know that with the value which is pegged on this precious stone the employees at Kagem are the lowest paid miners in ZAMBIA they get salaries which are equal to a maid or a gardener’s salary? Though they are on permanent contracts they don’t have any pension package to talk about from their employer apart from Napsa and Regina Saturnia. It’s a sad story when one reaches retirement all the GEMFIELDS gives to retired workers after working for Maybe say 20years is a partly K5000 as repatriation fund.It’s a sad story when one reaches retirement at Kagem Mine we would like Ministry of Labour to come and give guidance on this issue pension scheme at Kagem Mine.

  8. What……………” large emeralds are far more common and are hard to value……

    A pack of lies. That should never have left Zambian soil. Gemfields looters

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