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International Diamond Week Israel 2020
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LICENSE TO MINE: GEMFIELDS TO OPERATE KAGEM UNTIL 2045

Zambia has renewed Gemfields’ licence to mine emeralds at Kagem for 25 years
Emeralds green gemstones diamonds
Credit: photo-world / shutterstock.com

Zambia has renewed Gemfields’ licence to mine emeralds at Kagem for a further period of 25 years. According to GJEPC, that means Gemfields will operate the Kagem mine until April 2045.

 

Lion Emerald Gemfields
Credit: Gemfields

 

Gemfields owns 75% of the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique. The miner has began to hold emerald auctions at Kagem in 2009.

 

Fura rough emerald
Credit: Fura

 

In an effort to promote the local gemstone industry, the Government of Zambia recently announced the suspension of its 15% export duty on coloured gemstones, emeralds included. Gemfields, who owns 75% of Kagem Mining in Zambia, previously said that it was “overburdened by taxes”. The new exemption has taken effect on January 1, 2020.



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