MOVEMENT for Multiparty Democracy (MMD) leader Nevers Mumba says Zambia should declare emeralds as a strategic national asset to be employed in clearing of the unsustainable debt.
His comments come after the Zambian emerald dubbed Kafubu Cluster sold by KAGEM at a whopping US $14 million.
Dr. Mumba says it is clear that Zambia has the potential of generating an average of US $600 million per annum adding that his proposal is not meant to disable the private sector but to employ a policy that brings most of emeralds benefits to the national table.
He said the country can dedicate emeralds proceeds towards zeroing the national debt and observed that the current policy is not serving the interests of the majority of the Zambian people.
“A change of policy on the prospecting, mining and marketing of our gemstones can result in unshackling our nation from the high levels of poverty,” Dr. Mumba said.
He said Zambia is classified as having the highest grade of emeralds in the world and that the sale price of this gem confirms the wealth the country sitting on.
Discovered in March 2020, the Kafubu Cluster is a colossal cluster of emeralds. Close inspection of the 37,555-gram (187,775 carat) cluster reveals that it contains very little matrix or other minerals, meaning the piece is almost entirely made up of emeralds, which, given its sheer size and formation, makes this a very rare find indeed.