By BUUMBA CHIMBULUGEMFIELDS, the owner of Kagem Mining Limited, has reported a growth in revenue of US$216.2 million in 2019 from US$206.1 million the previous year.This follows six successful auctions of emeralds from Zambia and rubies from Mozambique.Overall production in 2019 amounted to 36.3 million carats at an average grade of 228 carats per tonne.Kagem Mining Limited is 25 per cent owned by the Industrial Development Corporation (IDC) and 75 per cent by Gemfields.The mining company contributed close to US$80 million of Gemfields overall revenue.Kagem emerald mine continued its run of robust growth throughout 2019, adding that the total rock handling at the mine increased to 12.6 million tonnes from 11.9 million tonnes in 2018.Gemfields Chief Executive Officer, Sean Gilbertson, said 2019 was a fruitful year for the wider group when compared with 2018.He however added that 2020 would be particularly challenging due to the Coronavirus (Covid-19) global pandemic.Mr Gilbertson explained that widespread travel and […]
Gemfields in revenue growth
