SourcingJan 02, 2025
Gemfields Resumes Ruby Mining in MozambiqueSourcingJan 13, 2025
Zambia Reinstates 15% Export Duty on Precious Gemstones, Shocking Gemfields
Gemfields said the Zambian government revoked the 2019 suspension of the tax with no warning.
The government of Zambia has reinstated a 15 percent export tax on precious gemstones, a move that came as a surprise to Gemfields. The London-based miner has said it plans to lobby against the change.
London—The Zambian government has reinstated the country’s 15 percent export tax on precious gemstones, a move Gemfields said came without warning and one it plans to lobby against.
The new export duty, which took effect Jan. 1, will be applied on top of an existing 6 percent mineral royalty tax.
Gemfields said this will raise the effective tax on revenues at the Kagem emerald mine, which it owns in partnership with the Zambian government’s Industrial Development Corporation, to 21 percent, in addition to a 30 percent corporation tax.
The 15 percent export duty was first introduced in 2019 but suspended later that year following negotiations between the government and the country’s emerald sector.
The government revoked the 2019 duty suspension without notice or consultation, Gemfields said.
Related stories will be right here …
The new export duty, which took effect Jan. 1, will be applied on top of an existing 6 percent mineral royalty tax.
Gemfields said this will raise the effective tax on revenues at the Kagem emerald mine, which it owns in partnership with the Zambian government’s Industrial Development Corporation, to 21 percent, in addition to a 30 percent corporation tax.
The 15 percent export duty was first introduced in 2019 but suspended later that year following negotiations between the government and the country’s emerald sector.
The government revoked the 2019 duty suspension without notice or consultation, Gemfields said.
Zambia is among the world’s three largest emerald exporters along with Brazil and Colombia.
Brazil and Colombia’s aggregate tax on revenues are 2 percent and 2.5 percent, respectively, in addition to corporation taxes of 34 percent and 33 percent, respectively, according to Gemfields.
Gemfields said in 2023, when no export duty was in place, Kagem paid 31 percent of its revenues to the Zambian government in the form of mineral royalties, corporation taxes, and dividends.
Citing the impact the tax could have on sector sustainability and investment attractiveness, the miner said it plans to ask the government to suspend the export duty again.
The company said it is aware of several additional measures introduced in other areas of the economy that could bring in more money for the Zambian government and wouldn’t involve taxing precious stone exports.
As of Dec. 23, Gemfields has suspended emerald mining at Kagem for up to six months due to oversupply in the market.
For now, it has shifted focus to processing ore from Kagem’s ore stockpiles.
In an email to National Jeweler, the miner said despite the suspension, all affected employees will be paid their usual monthly basic salaries pursuant to Zambian law.
More on Sourcing
The Latest
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
AuctionsDec 19, 2025
Jean Schlumberger’s ‘African Cat’ Is Purr-Fection Need a gift for the cat lover who has everything? Look no further than our latest Piece of the Week.
Weekly QuizDec 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
