ESMAZ Condemns Kagem Mining’s Suspension Decision
Written by Mafken FM Newsroom on 26 December 2024
By Respite Kaoma
The Emerald and Semi-Precious Stones Mining Association of Zambia (ESMAZ) has condemned Kagem Mining Limited’s decision to suspend operations, citing concerns over the company’s true motives.
In an interview with Mafken News, ESMAZ President Victor Kalesha expressed skepticism about Kagem’s claim that the suspension is due to an oversupply of emeralds on the international market.
Mr. Kalesha emphasized that the association is not convinced by Kagem’s reasoning and believes that the company’s decision will have severe consequences for the national economy.
He warned that the suspension of operations, set to begin on January 1, 2025, will result in significant job losses and a ripple effect on local businesses.
He also pointed out the inconsistency between Kagem’s decision to suspend operations and their recent application to extend their mining operations by approximately 4,000 hectares in Lufwanyanama.
