Gemfields’ Zambia mine to restart focused openpit mining
Gemfields Group announced that Kagem Mining, the emerald mine in Zambia which is 75% owned by Gemfields and 25% owned by the government through the Industrial Development Corporation of Zambia (IDC), will shortly start a programme of focused openpit mining to recover more premium emeralds.
Alongside other cost-cutting measures, Kagem suspended all mining from January 1 to focus on processing ore from Kagem’s significant ore stockpile using the operation’s upgraded processing plant.
Emerald production from the processing plant this year 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 openpit mining methods, it says.
Kagem’s recent auction results, including the commercial-quality auction results released last month, have increased management confidence in the current emerald market and the decision has therefore been taken to restart 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 restart full-scale mining will continue to be assessed as market conditions develop.