Gemfields has released the latest data for its proprietary G-Factor for Natural Resources initiative, reinforcing its ongoing commitment to transparency in natural resource revenue distribution. The updated figures, reflecting data through 31 December 2024, provide a clear look at how much of the company’s gemstone revenues are shared with host governments in the form of royalties, taxes, dividends, and levies.
Launched in 2021, the G-Factor aims to set a global standard for disclosure in the natural resources sector. It is now gaining traction beyond corporate reporting—most notably with the Zambian government integrating the metric into its ZEITI Online Fusion Portal, enhancing public visibility into resource economics.
Montepuez Ruby Mine Sets the Pace
Gemfields’ Montepuez Ruby Mine (MRM) in Mozambique continues to lead the way in equitable revenue sharing. Over the past decade, Montepuez has averaged a G-Factor of 25%, with 24% reported for 2024 alone. This performance underscores the strength of the global ruby market and MRM’s operational stability.
“Despite a complex local environment, Montepuez delivered a strong return to the Government of Mozambique,” said Sean Gilbertson, CEO of Gemfields. “The ruby market’s resilience has been critical to this outcome.”
Kagem Emerald Mine Struggles with Market Headwinds
In contrast, the Kagem emerald mine in Zambia experienced a significant drop in its 2024 G-Factor, reporting just 9%—well below its 10-year average of 20%. This decline reflects the difficult market environment for emeralds in the second half of 2024, which forced Gemfields to temporarily suspend mining operations at Kagem in December.
Operations resumed in May 2025, and the company expects the G-Factor to recover in the coming quarters.
“Adverse conditions in the Zambian emerald market eroded profitability at Kagem, directly impacting our ability to return value to the host country,” Gilbertson added.
Pushing the Transparency Agenda Forward
By publishing the G-Factor annually and encouraging government collaboration, Gemfields is advocating for greater clarity in how natural resource wealth benefits local economies. As the gemstone sector faces growing scrutiny over sustainability and fairness, the G-Factor is emerging as a practical benchmark for responsible mining practices.
In an industry often shrouded in opacity, Gemfields’ approach signals a shift toward measurable accountability—one percentage point at a time.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
