GJ Town India

Kagem emerald auction earns Forex of $28.4m for Zambia US$28.4 million in foreign exchange earnings has been raised from an auction of high-quality Zambian emeralds – including the exceptionally rare 5,655 carat (1.13kg) Inkalamu emerald - held in Singapore last week. The sale of gemstones from the Kagem mine in Lufwanyama was witnessed by Mr Paul Chanda, the Permanent Secretary, Ministry of Mines and Minerals Development along with other officials from the Ministry of Mines and Mineral Development, Zambia Revenue Authority and the Chief Executive Officer of the Industrial Development Corporation Mateyo Kaluba. “All of the proceeds from the auction will be repatriated back to Zambia,” confirmed Sean Gilbertson, Chief Executive Officer of Kagem and Gemfields, which owns 75% of the mine in partnership with the Zambian government through the Industrial Development Corporation of Zambia, which owns 25%. The auction saw 40 companies placing bids and generating tot...

Gemfields would offer next Auction in Singapore in November 2018 10% of Inkalamu’s auction Would be for carnivore initiatives Kagem Mining has discovered an exceptionally rare high quality 5,655 carat (1.13kg) emerald crystal at its mine in Lufwanyama. The emerald – dubbed ‘Inkalamu’, the Lion Emerald - shows remarkable clarity with a perfectly balanced golden green colour, and is already creating a buzz in the global gemstone industry ahead of its auction in Singapore next month in November. Inkalamu was discovered at Kagem, the world’s largest emerald mine, which is 75% owned by London-based Gemfields and 25% by the Zambian government through the Industrial Development Corporation of Zambia. “The discovery of this exceptional gemstone is such an important moment both for us and for the emerald world in general” commented Gemfields’ London-based gemmologist Elena Basaglia. “We are experiencing strikingly increased demand for high quality Zambian emeralds from ...