March 23, 2017 7:06 AM ET

Metals and Mining

Company Overview of Kagem Mining Limited

Company Overview

Kagem Mining Limited engages in the exploration, mining, processing, and sale of emeralds. The company was founded in 1985 and is based in Kitwe, Zambia. Kagem Mining Limited operates as a subsidiary of Gemfields Plc.

Plot 6374 Street

Dr. Aggrey Road

Light Industrial Area

Kitwe,  

Zambia

Founded in 1985

Phone:

260 211 216845

Fax:

260 212 216324

Key Executives for Kagem Mining Limited

Kagem Mining Limited does not have any Key Executives recorded.

Kagem Mining Limited Key Developments

Kagem Mining Limited Announces Earnings and Production Results for the Quarter and Six Months Ended December 31, 2016; Provides Production Guidance for the Year of 2017

Kagem Mining Limited announced earnings and production results for the quarter and six months ended December 31, 2016. For the six months, the company's revenue was $10.7 million against $53.8 million for the same period last year. Property, plant and equipment was $0.7 million against $0.7 million for the same period last year. For the quarter, the company reported property, plant and equipment of $0.1 million compared to $0.5 million a year ago. For the quarter, the company reported Gemstone Production of 4.7 million carats, ore production of 302,000 tonnes, grade production of 156 carats per tonne and waste mined production of 2.6 million tonnes compared to Gemstone Production of 8.2 million carats, ore production of 301,000 tonnes, grade production of 272 carats per tonne and waste mined production of 2.8 million tonnes for the same period a year ago. For the six months, the company's production was 10.7 million carats of rough emerald and beryl against 15.7 million carats for the same period last year. Average grade, inclusive of ore from bulk sampling pits, of 166 carats per tonne against 254 carats per tonne for the same period last year, with the difference in grade and production volumes being attributable to the varied nature of the mineralisation and a lower-grade zone mined in the current period. The total ore processed was 161,954 tonnes against 91,457 tonnes for the same period last year. For the year, the company expects low first half production to reduce targeted total production of rough emerald and beryl to 25 million to 30 million carats for the financial year 2017 against previous guidance of 30 million carats to 35 million carats. The company however, remains confident that it will be able to achieve its planned ramp up in emerald and beryl production over the coming years.

Kagem Mining Limited Reports Production and Capital Expenditure Results for the Three Months Ended 31 March 2015

Kagem Mining Limited reported production and capital expenditure results for the three months ended 31 March 2015. For the period, the company reported production of 9.9 million carats of emerald and beryl versus 3.6 million carats and beryl in the quarter ending 31 March 2014. Average grade of 355 carats per tonne versus 198 carats per tonne in the quarter ending 31 March 2014, a 79% increase in grade; Ore Production (reaction zone) was 27,900 tonnes against 18,000 tonnes a year ago. For the period, the company reported capital expenditure of property, plant and equipment of $1.0 million against $2.7 million a year ago. Capital expenditure of capitalised waste stripping was $5.9 million against $0.4 million a year ago.

Similar Private Companies By Industry

Company Name Region
Baluba Building Construction Limited Middle East/Africa
Copperbelt Selection NL Middle East/Africa
Eagle Metal Fabrication Limited Middle East/Africa
Gravita Zambia Ltd. Middle East/Africa
Kiwara Resources Zambia Limited Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
The Advertising Council, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Kagem Mining Limited, please visit --. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.