Modern Mining November 2023

GEMSTONES

Aerial view of the Grizzly mine.

Strong demand for emeralds underpins investment in Grizzly mine

Given the robust demand for gemstones, emer ald miner, Grizzly Mining, one of the world’s

Grizzly Mining at the Dubai Auction in August 2023.

F ounded by current chair, Abdoulaye Ndiaye, in 1997, Grizzly Mining has been producing high quality emeralds and beryl for the international gemstone market for over 25 years from its 100% owned flagship Grizzly mine in Lufwunyama region in the Copper-belt province of northern Zambia. Zambia accounts for 70% of the global supply of emeralds, but also hosts deposits of semiprecious stones including aquamarine, amethyst, tourmaline, quartz, jasper and chalcedony. Located in the Kafubu Belt, some 50 kms from Kitwe, Northern Zambia, the Grizzly Mine is an open largest producers of emeralds, recently acquired the Olympic licence area, which hosts an extension to the ore body adjacent to its current open pit mine. The Olympic licence is set to expand the life of mine by another 20+ years, says Abdoulaye Ndiaye, of Grizzly Mining. By Nelendhre Moodley .

Grizzly Chairman, Abdoulaye Ndiaye.

pit operation, currently being mined to a depth of 65 m. The mine produces a combination of high, mid and low-grade emeralds and beryl for the interna tional gemstone market. Grizzly Mining mines a 1.4 km long open pit, con sisting of five (now merged) pits – Chimpundu East and West, Camara, Demar, and Pilala, the original licence, totalling an area of 350 ha. According to Ndiaye, the emeralds are found in the talc magnetite shist mineralisation (TMS) which

16  MODERN MINING  November 2023