Gemfields (LON: GEM) (JSE: GML) has announced the discovery of an 11,685-carat emerald named Imboo at its 75%-owned Kagem mine in Zambia, making it the largest emerald found there to date. This significant find was made on August 3 and will be auctioned until September 11.
The emerald surpasses previous notable discoveries from the mine, including the 6,225-carat Insofu in 2010, the 5,655-carat Inkalamu in 2018, and the 7,525-carat Chipembele in 2021. It was extracted from the Chama pit by geologist Dharanidhar Seth and chiseller Justin Banda, with the mine utilizing a geological setting conducive to emerald formation.
Gemfields is collaborating with Provenance Proof to provide nanoparticle tagging technology for traceability of the emerald, ensuring its origin will remain verifiable post-cutting. Zambia holds a 25% stake in the Kagem mine, which is the second-largest emerald producer globally.
