Diacolor Buys 6,100-ct Zambian Emerald
An extremely rare, high quality Zambian emerald was sold at auction in Lusaka in early October for an undisclosed amount. The exceptional 1,220g (6,100-carat) gemstone, discovered at the Kagem mine in Lufwanyama, was bought by one of the world’s leading gemstone and jewellery companies, Diacolor India.
The emerald, named Insofu (meaning baby elephant in the local Bemba language) is considered “exceptional” by industry experts because of its large size, clarity and colour.
“This is one of the best pieces I have seen. It has a beautiful history. The sheer size makes it a rare stone and on top of that it has beautiful quality. It has glamour; it has a history and I am very proud of it. It is of course very high value, but it is priceless for me.
“It’s a museum piece for me, I don’t want to sell it. I would like to enjoy keeping it,” said Rajkumar Tongya, chairman of Diacolor, a family-run business that has been operating for four generations.
Insofu was mined in 2010 at Kagem, the world’s single largest producing emerald mine, which is owned by London-based Gemfields (75%), in partnership with the Zambian government.
The emerald was named by Gemfields to reflect the company’s support for wildlife conservation as part of its wider commitment to ensuring responsible mining through social, environmental and economic contributions to Zambia.
Gemfields has been instrumental in putting Zambia on the world map as a competitive, reliable and trusted source of responsibly sourced gemstones while pioneering new environmental, social and safety standards in the coloured gemstone sector.
“This is a truly remarkable example of a spectacular gemstone from the Kagem emerald mine. We have rarely seen this in the seven and a half years since we mined it in 2010; it’s an incredible piece and it’s definitely in the right hands,” said Gemfields chief executive officer Sean Gilbertson.