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

The G-Factor represents the proportion of a company’s revenue paid to host governments through royalties, corporation tax, and dividends. For the 10-year period from 2016 to 2025, the G-Factor stands at 17% for Kagem and 26% for MRM.

In 2025, MRM recorded a one-year G-Factor of 23%, with total payments to the Government of Mozambique amounting to $ 11.3 million against revenues of $ 49.9 million, as shown in the table on page 2.

Kagem reported a significantly lower one-year G-Factor of 6% for 2025, with $ 4.9 million paid to the Zambian government on revenues of $ 84.1 million.

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

He added that in Mozambique, the proportional contribution remained stable despite lower premium ruby output, a postponed December auction, and illegal mining disruptions.

For Kagem, Gilbertson noted that the reduced contribution reflected a halt in mining from January to April 2025, alongside a temporary 15% export tax on gemstones, which was lifted in March 2025.

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

Gemfields stated that it will continue publishing the G-Factor annually to promote transparency and encourage broader industry adoption.