investments in expanding capacity launched. China has become a major investor in the Zambian copper industry, and in February 2007, the two countries announced the creation of a Chinese-Zambian economic partnership zone around the Chambishi copper mine. Today copper mining is central to the economic prospects for Zambia and covers 85% of all the country's exports, but concerns remain that the economy is not diversified enough to cope with a collapse in international copper prices. In January 2013, the Zambia Environmental Management Agency (ZEMA) approved 27 mining and exploration licences, with more rumoured to be confirmed. Zambia is the world's second biggest producer of emeralds, with its Kafubu River area deposits (Kagem Mines) about southwest of Kitwe responsible for 20% of the world's production of gem-quality stones in 2004. In the first half of 2011, the Kagem Mines produced 3.74 tons of emeralds. In April 2022, Gemfields, the majority owner in the mine, recorded a record U$42.3 million at a sold out March/April auction and since 2009, Kagem-sourced gemstones (emerald and beryl) have netted Gemfields revenue totaling U$792 million with the proceeds fully repatriated to Kagem in Zambia, with all royalties due to the Zambian government paid on the full sales prices achieved at auctions. Rich deposits of Uranium have been discovered in some parts of Zambia. In 2007, the Zambian government sought scrutiny and guidance from the International Atomic Energy Agency (IAEA) on its developed guidelines to regulate the mining of uranium in the country. In 2008, deposits were found in Kaputa District, Northern Province. Albidon Zambia Limited also confirmed the presence of high-grade uranium mineralisation at its Njame east project near Chirundu. In the Southern Province, 31 km North of Siavonga, and north of Lake Kariba, there are 5 main Uranium Deposits: Mutanga, Dibwe, Dibwe East, Njame, and Gwabe explored under The Mutanga Uranium Project. The Canadian Toronto Stock Exchange (TSX) listed GoviEx Uranium Inc acquired 100% of the Mutanga Project also known as the Kariba Uranium Project in 2016. In March 2022, GoviEx announced that the Project is forecast to start production in 2027 and could be the lowest capital intensive uranium project in Africa. Lumwana Mining Company Limited (LMC) who had embarked on uranium exploration in 2007 in Solwezi District are currently stock piling uranium that the firm is getting as a by-product of Copper from its operations as they are yet to obtain a uranium