Sunday, 6 January 2019

Gemstones of Zambia

Zambia has the second largest deposits of emeralds in the world and accounts for about 25% of global supplies. Over the past few years Zambia has been become a major competitor to Colombia. Zambian Emeralds have a very rich green color and much of the material is eye clean, compared to the Colombian Emerald that is usually highly included.

Zambia possesses Africa's largest deposits of amethyst and aquamarine, among the best in the world.
Unfortunately the country has failed to benefit from these vast gemstones riches. There’s minimal employment creation. Most of the mines are not owned by Zambians and the tax revenue is virtually non-existent.

There are many mines in the country which operate without a license and smuggle stones abroad. These stones are nearly always unprocessed. The uncontrolled sale of gemstones is the main challenge being faced.
The Zambian government banned the overseas auctioning of gemstones. Later plans were announced for a gemstone trading system to create a platform for buying and adding value to Zambian gemstones.

Despite protests the new framework appears to be working so far.

The opencast Kagem mine is producing between 1 and 3m carats a month.