In the realm of gemstones, Zambia is emerging as a powerhouse, particularly in the realm of the green allure of emeralds, and leading the way is Grizzly Mining, a company illuminating the path to global prominence.
Green, a color synonymous with tranquility and the promise of fortune, takes center stage in Zambia’s ascent as a global leader in the emerald industry. Grizzly Mining Chairman, Abdoulaye Ndiaye, asserts that Zambia now accounts for a staggering 70% of the world’s emerald supply, marking a substantial rise underscored by a record auction in August.
Unlike traditional emerald mining locations like Colombia, Zambia’s emeralds lie closer to the surface, allowing for safer and more accessible surface operations. Grizzly Mining stands at the forefront of this surge, producing some of the largest and highest-quality emeralds globally.
Ndiaye, who is not only the Chairman but also the founder of Grizzly Mining Limited, traces his deep connection to emeralds back to his gemological studies in Israel. His passion led him to Zambia in 1997, where he identified an opportunity to create a substantial market for emeralds through a reliable supply chain.
The journey began with Ndiaye acquiring his first emerald concession in a remote part of the Zambian bush. Over the years, he expanded the operation, amalgamating neighboring licenses into a massive 2km open pit operation, now renowned as the Grizzly Emerald Mine.
In 2017, a partnership with an Israeli diamond group temporarily renamed the company to “Gemcanton.” However, Ndiaye regained full ownership in 2019, reverting to the original name, “Grizzly Mining.” The company, now solely owned and operated by Ndiaye, has garnered notable success, generating $48.6 million in revenue from its recent auction.
While emerald mining posed challenges such as remote locations lacking essential infrastructure, Grizzly Mining addressed these hurdles head-on. The company invested in building roads, providing access to water, and extending the national powerline to ensure a safe and habitable working environment.
Beyond infrastructure, Grizzly Mining places significant emphasis on its relationship with local communities, garnering crucial support from local chiefs. The company employs over 1,000 individuals, with 95% of the workforce being Zambian. Grizzly has been recognized for its commitment to safety and has received industry awards. Moreover, the company’s community initiatives include building schools and clinics, sponsoring educational programs, and supporting staff during the COVID-19 pandemic.
Environmental responsibility is paramount to Grizzly Mining’s operations. Adhering to stringent safety and environmental standards, the company rehabilitates waste rock, reforests mining areas, and minimizes water usage. A self-sufficient nursery for trees and vegetation reinforces their commitment to sustainability.
Grizzly Mining, holding regular auctions in Kitwe, Zambia, and Dubai, has not only distinguished itself in the market but has also revolutionized the sale of emeralds. By offering identical lots of same-sized, matched-grade, and matched-hue emeralds, Grizzly has set a new standard in the industry.
As the company looks to the future, a 50% expansion is underway to meet the growing demand for their high-quality emeralds. Ndiaye, reflecting on his introduction to emeralds in 1978, remains dedicated to unveiling the hidden beauty beneath the surface. His vivid memories serve as a constant reminder of the unique allure that emeralds bring, motivating his team to continue uncovering these precious gems. Grizzly Mining’s journey, propelled by dedication, hard work, and a commitment to excellence, stands as a testament to Zambia’s ever-growing prominence in the world of emeralds.
