Gemfields released its latest ‘G-Factor for Natural Resources’ figures through 31 December 2024, underscoring its commitment to transparency in resource revenue sharing.
The G-Factor, introduced by Gemfields in 2021, shows the percentage of revenue returned to host governments via royalties, taxes, dividends, and levies. It is now also being adopted by the Zambian government via the ZEITI Online Fusion Portal, enhancing public access to resource-related data.
The Montepuez ruby mine in Mozambique reported a 25% G-Factor over a 10-year period, with 24% recorded for 2024 alone, reflecting a resilient ruby market.
In contrast, Zambia’s Kagem emerald mine saw its 2024 G-Factor dip sharply to 9%, attributed to tough market conditions that forced a suspension of mining operations in December 2024. However, with operations resuming in May 2025, the G-Factor is expected to rebound towards its 10-year average of 20%.
Sean Gilbertson, CEO of Gemfields, noted, “Despite a challenging in-country context, Montepuez Ruby Mining was able to return a robust 24% of its revenue to the Government of Mozambique given a resilient ruby market. Conversely, the widely documented adverse market conditions for Zambian emeralds in the second half of 2024 impacted profitability at Kagem.”