Gemfields Group Limited has released updated ‘G-Factor for Natural Resources’ figures for its Kagem emerald mine in Zambia and Montepuez Ruby Mining (MRM) in Mozambique, for the period ending 31 December 2025.

The G-Factor measures the share of revenue paid to host governments through mineral royalties, corporation tax and dividends. Over the 10-year period from 2016 to 2025, the metric stood at 17% for Kagem and 26% for MRM.

According to the data table on page 2, MRM recorded a G-Factor of 23% in 2025, with total payments of $ 11.3 million to the Government of Mozambique against revenues of $ 49.9 million.

Kagem reported a G-Factor of 6% for 2025, with $ 4.9 million paid to the Zambian government on revenues of $ 84.1 million. The lower contribution reflects operational and regulatory factors during the year.

CEO Sean Gilbertson stated, “Gemfields’ 2025 G-Factor for Natural Resources underscores how contributions to host nations vary with market and operating conditions.”

He noted that in Mozambique, the proportional contribution remained stable despite reduced premium ruby output, a postponed December auction and illegal mining activity affecting operations.

In Zambia, mining operations at Kagem were halted between January and April 2025, while a temporary 15% export tax on precious gemstones, lifted in March 2025, impacted performance.

“With operations restarted and market conditions improving, we expect Kagem’s G-Factor to trend back toward its long-term average of around 18%,” Gilbertson added.

Gemfields said it will continue annual disclosure of the G-Factor metric to support transparency and enable assessment of resource revenue contributions.