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.
International News
De Beers Returns To IDE After Nine Years
Part Of A Bigger Plan Launched In July To Boost Local Trade and Bring Back International Business
De Beers has come back to Israel to show off its unpolished diamonds for the first time in nine years. Local diamond traders in Ramat Gan were invited to view the stones in person from October 13 to 15 before placing their bids online.
Bringing De Beers back to the Israel Diamond Exchange (IDE) is part of a bigger plan launched in July to boost local trade and bring back international business.
Having a major player like De Beers return is a big vote of confidence in Israel’s diamond industry and its place on the global stage.
The biggest perk for local buyers? They get to check out the diamonds up close without having to hop on a plane. It isn’t clear yet how many people attended or if the move actually boosted sales.
This auction arm works differently from the main part of De Beers’ business. Most of its rough diamonds—around 90%—are sold through regular sales called “sights.” These happen ten times a year across Botswana, Namibia, and South Africa, where registered buyers inspect their set shipments before making a purchase.
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