Emeralds and Semi-Precious Stones Mining Association of Zambia has called on the Ministry of Mines and Minerals Development to clearly state what criteria will be used to bring in the highest bidders for miners who are holding on to emeralds.
Speaking in an interview with Money FM News, Association President Victor Kalesha said currently, there is a lockdown in India which is the major export market for the stones, hence no buyers can come into the Country.
Mr. Kalesha however said if government is facilitating the market, it will be a good move stating that the industry is almost collapsing and a lot of miners may not even be able to get back on their feet and resume operations.
“All of us have suffered a major setback in the sense that there is a lockdown in India, and that is the major export market for the gemstone meaning that no buyers would come in the Country, so I don’t understand what criteria they would use but if they say wait, are they facilitating to bring in the buyers?”
“If they are facilitating that and as fast as they can do that the better because the industry is almost suffering a clamp down where a lot of people may not even be able to rise up again and start operations,” Mr. Kalesha stated.
He added that the association will encourage its members to be patient and wait for the public auction of the stones as advised by the Ministry, but that government should specify the criteria they are using to bring in the highest bidders, because there are a lot of people holding on to emeralds due to lack of market.
“People have been patient and we will allow our people to be patient, but government should give us what criteria they are using to bring in the highest bidders, those that will come and bid for those that have got stones.”
“It’s like there are a lot of people holding on to stones or emeralds, so when they bring in the highest bidders, are they bringing for all the mines, or are they bringing for specific miners?” he wondered.
And Mr. Kalesha stated that most emerald miners have halted operations due to lack of finances, and as a result, they are not paying taxes thereby affecting the country’s revenue collection.
Recently, Permanent Secretary in the Ministry of Mines and Minerals Development Barnaby Mulenga urged Emerald miners to exercise patience and wait for government to host the public auction of emeralds to enable them sell the stones to the highest bidder.
Mr. Mulenga said the public auction is likely to be held at the end of the year when travel restrictions are expected to be eased.