Kagem invests in blockchain tech to ensure gemstone traceability
Emerald miner Kagem Mining is introducing a new blockchain technology at its Zambian mine that enables gemstones to be traced back to the mine.
Kagem's parent company Gemfields has partnered with diamond and gemstone analysis firm Gübelin Gem Labs to provide buyers details of the origin of Gemfields' gemstones, as well as to keep an encrypted record of the gemstones' journey from the mine to consumer.
At Gemfields' end-of-year emerald and ruby auctions, several schedules of high-value emeralds and rubies will be offered for sale at the company’s closed-room auction with complete blockchain records, providing customers with transparency on the gemstones' history.
The Provenance Proof Blockchain records produced by Gübelin can then be completed with details of ownership at every step as the gemstone exchanges hands in future, providing customers with an "unprecedented level of clarity over the path a gemstone has taken".
In 2017, Gemfields pioneered the Emerald Paternity Test, Gübelin’s first Provenance Proof technology, which involved the introduction of unique DNA particles that remain within an emerald’s fissures and serve to identify a gemstones’ origin on decode.
This is now being integrated with Gübelin’s blockchain record process, which provides a secure means of proving the provenance of gemstomes.
The blockchain technology allows traceability along every stage of the value chain and provides seamless documentation for peace of mind. Information is encoded, as well as backed up on multiple servers, to prevent the data from being altered, deleted or manipulated, and to ensure that the individual history of each gemstone, from the mine to the final customer, is stored permanently and securely.
London-headquartered Gemfields, which owns 75% of Kagem, also holds a majority interest in the Montepuez ruby mine, in Mozambique.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation