Govt cash in on Emeralds



Government has earned $1.98 million in Mineral royalty revenues from the recently held auction sale of emeralds in Lusaka by Kagem Mine.

This is from the thirty one point five million dollars Kagem earned from the over five hundred thousand carats of rough high quality gemstone that were auction in a period of five days.

Speaking at a media briefing this afternoon, Mines Minister Christopher Yaluma observed that such a successful auction sale of emeralds by Kagem Mine has demonstrated Zambia’s potential of becoming a market where any Mining company of gemstones can profitably sell its products.

Yaluma also notes that the outcome of the auction by Kagem is a further indication that Zambia is not only among the producers of the best emeralds in the world but also offers the best environment conducive for hosting auctions sales for emeralds.

Yaluma says the Patriotic Front (PF) government hopes to see more local auctions in future where even small scale gemstone miners can also take part.

He has however maintained that the PF government could also consider allowing the auction of locally produced emeralds in other countries besides Zambia if such Mining Firms that wish to auction abroad meet the requirements.

The Mines Minister has further affirmed the PF government’s commitment to developing the Mining Industry and the gemstone sector in order for the sector to contribute further to the sustainable development of the country.