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

The company reported a 10-year G-Factor of 17% for Kagem and 26% for Montepuez Ruby Mining for the period 2016–2025. The metric reflects the proportion of revenue paid to host governments through royalties, corporation tax, dividends and other levies.

For 2025, Montepuez Ruby Mining recorded a G-Factor of 23%, with total payments to the Government of Mozambique amounting to $ 11.3 million against revenues of $ 49.9 million.

At Kagem, the one-year G-Factor for 2025 was 6%, with $ 4.9 million paid to the Zambian government on revenues of $ 84.1 million. The company attributed the lower figure to a temporary suspension of mining operations between January and April 2025 and the impact of a 15% export tax on precious gemstones, which was lifted in March 2025.

Gemfields CEO Sean Gilbertson stated that the 2025 figures reflect varying market and operating conditions. He noted that while Montepuez saw reduced cash payments due to lower premium ruby output, a postponed December auction and illegal mining activity, its proportional contribution remained stable.

The G-Factor, first introduced by Gemfields in 2021, is published annually as a transparency measure for natural resource industries. It is intended to provide a standardized indicator of how effectively companies convert resource extraction into financial contributions for host governments.

Gemfields stated it expects Kagem’s G-Factor to return towards its long-term average of approximately 18% as operations stabilize and market conditions improve.

The company continues to advocate for broader adoption of the G-Factor across the natural resources sector to support accountability and comparability.