International News
Kagem to recommence focused open-pit mining
Gemfields is pleased to announce that Kagem Mining Limited (‘Kagem’), the emerald mine in Zambia which is 75% owned by Gemfields and 25% owned by the Government of the Republic of Zambia through the Industrial Development Corporation of Zambia (‘IDC’), will shortly recommence a programme of focused open-pit mining to recover more premium emeralds.
As announced on 23 December 2024, alongside other cost cutting measures, Kagem suspended all mining from 1 January 2025 to focus on processing ore from Kagem’s significant ore stockpile utilising the upgraded processing plant.
Emerald production from the processing plant in 2025 so far, in terms of carats recovered, has been in-line with the Company’s expectations, producing a lower proportion of higher-quality or premium emeralds than direct open-pit mining methods.
Kagem’s recent auction results, including the encouraging commercial-quality auction results released on 30 April 2025, has increased management confidence in the current emerald market and the decision has therefore been taken to recommence mining of two key production points in the Chama pit, with minimal waste mining, to recover premium emeralds for Kagem’s future higher-quality auctions. The decision to recommence full scale mining will continue to be assessed as market conditions develop.
Dubai Diamond Exchange (DDE) and the London Diamond Bourse (LDB) have signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation between the two diamond trading centres, expanding business opportunities for members, and promoting responsible growth across the global diamond and gemstone trade. The agreement was announced on 8 July 2026.
The MoU establishes a framework for collaboration in responsible trading, commercial development, knowledge sharing, and closer engagement between members of the two bourses. It also seeks to encourage dialogue on issues affecting the international diamond industry as trading centres adapt to an increasingly interconnected global marketplace.
The agreement was signed by Ahmed Bin Sulayem, Chairman of the Dubai Diamond Exchange, and Charlotte Rose, President of the London Diamond Bourse. It marks the first formal international partnership under Rose’s presidency, which began in June.
Ahmed Bin Sulayem, Chairman, Dubai Diamond Exchange, said:
“The Dubai Diamond Exchange was built on the belief that connecting markets creates opportunity. This partnership with the London Diamond Bourse reflects that philosophy, bringing together two major diamond trading centres to strengthen collaboration and expand opportunities for our respective members. The future of our industry will not be built by individual markets acting alone. By working more closely together, we can establish a stronger network of trusted trading centres, sharing expertise, upholding recognised standards, and reinforcing confidence and growth across the global diamond trade.”
Charlotte Rose, President, London Diamond Bourse, noted:
“There is no better partner for the London Diamond Bourse to begin this new chapter with than the Dubai Diamond Exchange. As a fellow member of the World Federation of Diamond Bourses, the DDE shares our commitment to trusted, well-governed trading, and this agreement opens up real opportunities for members on both sides. I’m looking forward to seeing where this partnership takes us.”
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