Emeralds worth $50,000 stolen from KAGEM

THE Zambia-based Kagem Mining Company, founded by Jaipur jeweller Shivshankar Gupta, was the scene of an armed robbery on December 2nd when a gang of 15 thieves stole 70 kg of emeralds valued at $50,000 (K200 million), according to reports. The company had held an auction of rough emeralds in Jaipur this September.

The robbery took place at around 3.00 am. The group disarmed a police officer and held him at gun point with an AK-47 rifle, while they cut 29 locks and 13 grill doors to gain entry to the strong room. No injuries were reported and a police inquiry is currently underway.