Gemfields resume mining at Kagem Emerald Mine
Gemfields has resumed targeted open-pit mining at the Kagem emerald mine in Zambia, where it owns a 75% stake. This move follows a four-month suspension of mining activities that began in January 2025, a decision driven by an oversupply in the emerald market and efforts to manage operational costs.
Kagem emerald mine
Located in the southern part of Zambia’s copper belt, this open-pit mine lies in the centre of a mineral-rich province called the Ndola Rural Emerald Restricted Area. Zambian emeralds are among the oldest on earth – created by contact between beryllium, chromium and vanadium more than 500 million years ago.
During the pause, the company focused on processing existing stockpiles using an upgraded plant. While the quantity of emeralds recovered met expectations, the output included fewer premium-quality stones than typically achieved through direct mining.
The decision to restart operations was influenced by stronger-than-anticipated results from recent emerald auctions, which signaled improving demand. Mining will recommence at selected areas within the Chama pit, with a strategy aimed at minimizing waste removal while recovering higher-value emeralds.
Gemfields emphasized that it will continue to evaluate global market conditions before scaling up to full production. The company’s shares in London rose by over 3% after the announcement, reflecting renewed investor confidence. The Kagem mine remains a significant asset for Zambia, with the government holding a 25% ownership stake. Beyond Zambia, Gemfields also operates the Montepuez ruby mine in Mozambique and owns the luxury brand Fabergé, strengthening its position in the global coloured gemstone industry.
