Zambia’s economy shines as emeralds from Kagem mine attract global jewellers

Emeralds from Zambia's Kagem mine are attracting the eyeballs of some of the foremost gemstone buyers and jewellers around the world.

The growing popularity of the emeralds from Zambia is highly assisting the parent company, Gemfields to multiply its revenue and boost the South African country's economy at large. "We are excited because appreciation of Zambian emeralds is gaining momentum internationally given the uniqueness, clarity and transparency that is characteristic of the gemstones," Gemfields' gemmologist, Elena Basaglia said.

Kagem has contributed approximately USD 107 million to the government of Zambia in cumulative corporation taxes, mineral royalties and dividends. The said figure indicates that 20 percent of Kagem's revenue has reached Lusaka in the past 10 years.

Kagem, which is 75 percent owned by Gemfields while the Industrial Development Corporation of Zambia has a 25 percent stake, is the world's largest emerald mine and source of 'Inkalamu' – the 'Lion Emerald' – a 5,655 carat emerald crystal and one of the most unique stones to have come from the mine.

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