Lately Zambia has been in the media for an array of positives ranging from improved investor confidence to the right strides being taken by the authorities to restore fiscal fitness. As Africa’s largest copper producer in the next 5-10 years times when current production soars 3 million metric tons, the Southern African nation is already in the top 2 tier of emeralds and gemstone production. Lufwanyama district has yet again pinned Zambia on the global map after revealing the largest ever emerald piece weighing 7,525 carats (1,505g). This exotic stone has been named Chipembele meaning ‘rhino’ in the local indigenous dialect of Bemba one of the 72 languages of the emerald producer.
A rhinocerous and its cub in the lower Zambezi
HOW THE EMERALD WAS NAMED CHIPEMBELE (RHINO)
Chipembele was discovered on 13 July 2021 by geologist Manas Banerjee and Richard Kapeta (who was also the team leader for the discovery of Inkalamu in October 2018) and his team at Kagem. The discovery, they said, “left everyone speechless”. Kapeta shouted in joy, “look at this rhino horn!” And hence, the gemstone found its name.
Gemfields has unveiled “Chipembele”, the latest and largest significant gemstone discovered at the Kagem emerald mine in Zambia. This stone will be auctioned in November and is expected to attract global investors at record high pricing.
READ ALSO: Gemfields Kagem sells ‘Inkalamu’ the 5,625carat emerald in $28million auction
FROM INSOFU TO INKALAMU TO CHIPEMBELE
Earlier in 2010 Luwanyama produced 6,225 carat Insofu (elephant) then another 5,655 carat piece called Inkalamu (lion) in 2018, all of which were formed within a relatively close proximity at the Kagem emerald mine in Zambia., which is the world’s single largest producing emerald mine, owned by Gemfields in partnership with the Zambian government’s Industrial Development Corporation (IDC).
Ten per cent of the sales price of Inkalamu was donated to aid conservation efforts benefitting its namesake, shared between carnivore tracking projects in Zambia and large carnivore conservation projects in the Niassa reserve in Mozambique. Chipembele will maintain this tradition, and a share of the proceeds of sale will support the North Luangwa Conservation Programme in Zambia, to aid critical black rhinoceros conservation efforts.
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“A key Gemfields tenet is that Africa’s gemstone wealth must contribute meaningfully not only to host-country economies, but also to conservation efforts, host communities and the next generation by way of education, healthcare and livelihoods projects. We are delighted that the legacy of Chipembele will support rhinoceros conservation efforts, bringing a positive impact to conservation communities in Zambia.”
Jackson Mtonga, Kagem Sort House Assistant Manager
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Chipembele formed under near perfect conditions, allowing the combination of the elements beryllium, chromium and vanadium to crystalize into large, distinct hexagonal crystal structures with glassy surfaces. The recovery of such a large high-quality emerald is extremely rare and was made possible by the skilled Kagem mining team, who practice gentle extraction techniques when mining in areas where emerald mineralization is present. The rich, golden green hue and gemmy nature of this emerald will be appealing to buyers looking to yield fine quality faceted emeralds after the cutting and polishing process.
Inferring from previous auction proceeds the stone is likely to fetch north of $35 million in proceeds.
The Kwacha Arbitrageur