International News
Gemfields unearths colossal emerald weighing 11,685 carats at Kagem, sets new record
A colossal emerald weighing 11,685 carats—equivalent to 2.3 kilograms—has been unearthed by Gemfields at the Kagem mine in Zambia, setting a new benchmark in the world of coloured gemstones. By Named Imboo, after the buffalo in the Bemba and Lamba languages, the striking crystal surpasses Kagem’s previous giant, the 7,525-carat Chipembele (“rhino”), which earned Guinness World Records recognition in 2022.
While an emerald claimed to be even larger—53,750 carats—was exhibited in January 2025 by Almighty Gems in Coimbatore, India, that stone has not yet undergone independent authentication. By contrast, Gemfields’ Imboo discovery has already drawn global attention and will headline the company’s ongoing auction in Bangkok, running through 11 September.
The massive crystal was extracted on 3 August from the mine’s Chama pit by geologist Dharanidhar Seth and long-time chiseller Justin Banda. Gemfields said the buyer will be offered Provenance Proof nanoparticle tagging, ensuring full traceability even after cutting and polishing.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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