MINERAL AUDIT REQUIRED – MWAMBA

…as emerald production drops by 35%

By Scoop Reporter

THERE is a need for mineral audit as Zambia is experiencing a significant drop in the production of emeralds according to new records that show that in 2023, the sub-sector recorded a drop of about 35%, Patriotic Front (PF) member of the central committee Emmanuel Mwamba has said.

Mr Mwamba said surprisingly, recent global commodity reports showed that Zambia had surpassed Chile and Columbia to claim the title of the world’s largest emerald producer, marking a significant milestone in the mining of gemstones in Zambia.

He said, however, that the recent consolidated report from the Ministry of Mines and Minerals Development, shows that the emerald production figures have fallen significantly by about 6, 000 metric tons in 2023, as compared to the same period in the previous years.

“In 2022, the emerald sector had produced 17,658 metric tons of emeralds in the first three quarters, but in 2023, the figure dropped to about 11,551 metric tonnes,” he said.

He said this appeared to be a deliberate understatement made to escape fair payment of taxes and payment of equitable dividends.

Mr Mwamba said this was where the country needed the Extractive Industries Transparency initiative (EIT!).