Discovered at the Kagem emerald mine in Zambia in March 2020, the Kafubu Cluster is a colossal cluster of emeralds. Close inspection of the 37,555-gram (187,775 carat) cluster reveals that it contains very little matrix or other minerals, meaning the piece is almost entirely made up of emeralds, which, given its sheer size and formation, makes this a very rare find indeed.
“71Kg of emralds roughly gives you $188m. Zambia produces about 7,100Kg a year!” writes PF presidential candidate, Amb. Emmanuel Mwamba.
By Mpandashalo Mwewa | Chief Editor.
Lusaka, June 26 – Instead of perpetuating the spirit of trotting around the world, asking for handouts from supposedly rich nations, Zambians ought to usher in a new crop of political leadership in 2026 with a self reliant mindset.
In 2006, Zambian royalties from copper represented about $24m on $4bn worth of copper extracted. The 0.6% royalty rate was thought to be the lowest in the world. Our take from taxing the mining companies has not been anything to talk about either.
Between 2000 and 2007, Zambia exported copper worth over US$12bn but the government of the Republic of Zambia could only collect US$246m in tax.
You have to have a special kind of intelligent political leadership to give away $12bn and celebrate a $1.3bn IMF package spread over three year while subjecting an ordinary child in rural Zambia to very harsh living conditions.
Also Read: Canadian looting of Zambian resources led to debt crisis.
According to economists at the International Growth Centre (IGC), Zambia needs to improve tax collection and ensure the mining industry operates for the overall benefit of the economy to achieve sustainable debt levels.
The roots of Zambia’s need for debt restructuring lie in low tax collection, as the only alternative for the government to bridge the budget deficit is borrowing, says Twivwe Siwale, an IGC economist and a former tax inspector in Zambia.
Also Read: Zambia must prioritise domestic revenue mobilisation – IGC!
But it’s Amb. Emmanuel Mwamba’s Facebook post about Zambia’s Kagem Mine that prompted me to share these notes.
The mine, where large emerald stones, Inkalamu and Insofu, were discovered, is, at present, the world’s single largest producer of emeralds, accounting for approximately 25% of global production.
In 2018, Kagem produced a staggering 35.5 million carats, approximately 7,100 kilograms, of emerald and beryl. Zambia is the world’s second largest producer of emerald.
The deposits are located near the Kafubu River in the Ndola Rural Restricted Area and are mined by Kagem, Grizzly and Chantente concessions. The question is why is this precious metal not being managed by ZCCM-IH? Because of our compromised political leadership.
Also Read: Botswana threatens break-up with De Beers.
“71kg of emralds gives you $188m. Zambia produces about 7,100kg a year!” writes PF presidential candidate, Amb. Emmanuel Mwamba. So why is President Hakainde Hichilema running around like a headless chicken looking for money outside the country when money is on the Copperbelt?
Politics should not be a self preservation tool but a vehicle for development. We need a new crop of political leaders that can monetise our natural resources with the sole purpose of developing our country.
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