SourcingJan 13, 2025
Zambia Reinstates 15% Export Duty on Precious Gemstones, Shocking GemfieldsSourcingFeb 21, 2025
Zambia Lifts 15% Export Duty on Gemstones, Metals
The reversal comes less than two months after the Zambian government reinstated the tax in an effort to bring in more money.
The government of Zambia has once again suspended its 15 percent export duty on precious stones and metals. The country first introduced the export duty in 2019 but lifted it later that year, only to reinstate it in 2025. (Photo courtesy of Gemfields)
Lusaka, Zambia—The Zambian government is reversing its seemingly sudden decision to bring back the country’s 15 percent export duty on precious stones and metals after mining industry leaders spoke out against it.
On Tuesday, Zambia’s Minister of Finance and National Planning Situmbeko Musokotwane issued an order immediately suspending the tax, a measure the government said in a statement would allow producers to better compete in the global market.
“The measure will also encourage increased investment in the exploration and extraction of precious stones and metals, moving beyond the reliance on traditional mineral exports for foreign exchange earnings. The initiative will boost overall mineral production and ultimately increase the country’s foreign exchange earnings through diversified exports,” the statement continues.
“Further, the suspension is expected to have a positive ripple effect throughout the economy, attracting both local and international investors to Zambia’s mining industry.”
Related stories will be right here …
On Tuesday, Zambia’s Minister of Finance and National Planning Situmbeko Musokotwane issued an order immediately suspending the tax, a measure the government said in a statement would allow producers to better compete in the global market.
“The measure will also encourage increased investment in the exploration and extraction of precious stones and metals, moving beyond the reliance on traditional mineral exports for foreign exchange earnings. The initiative will boost overall mineral production and ultimately increase the country’s foreign exchange earnings through diversified exports,” the statement continues.
“Further, the suspension is expected to have a positive ripple effect throughout the economy, attracting both local and international investors to Zambia’s mining industry.”
The Zambian government’s suspension of the 15 percent export duty on gemstones and metals comes less than two months after it was reinstated in an effort to bring more money into government coffers.
On Jan. 21, the Zambian government held a town hall meeting at the Mulungushi International Conference Center in Lusaka to discuss the country’s 2024 economic performance and its outlook and budget for 2025.
Among those who spoke was Victor Kalesha, president of the country’s Emerald & Semi-Precious Stones Association, who said while he applauded the government’s efforts to improve Zambia’s economy, the 15 percent tax on gemstone exports would ultimately hurt the country.
“This 15 percent tax will suffocate gemstone miners, leading to reduced exports, job losses, and decreased income going into the national coffers,” he said. “Instead of promoting growth, this tax will drive investors and buyers to countries with more favorable tax regimes.”
Kalesha’s speech can be viewed on Facebook.
In announcing the suspension of the 15 percent export duty on Facebook, the Zambian government wrote, “Zambians in the precious minerals sector appealed and we listened … This is the wish of Zambians in the sector.”
Gemfields, the London-based company which mines emeralds in Zambia, also spoke out against the 15 percent export duty on gemstones.
Though a Gemfields spokeswoman could not confirm if the company had a representative at the Jan. 21 town hall, she said Gemfields engaged in dialogue with the government over the reinstated tax.
On Wednesday, Gemfields released a statement thanking Zambian President Hakainde Hichilema’s government for its “prompt and impressive” action regarding the export duty.
“The Zambian emerald sector has delivered phenomenal growth over the last 16 years and is today, by a significant margin, the world’s largest emerald exporter,” Gemfields CEO Sean Gilbertson said.
“The government’s collaborative approach and decisive action are clear demonstrations of its intent to deliver growth and jobs for Zambia and this step puts our industry back on track to continue that trajectory.”
Gemfields owns the Kagem mine, believed to be the largest emerald mine in the world, in a 75/25 partnership with the Zambian government’s Industrial Development Corporation.
In late December, the mining company announced it was suspending mining at Kagem for up to six months in an effort to cut costs but would continue to process ore from the mine’s “significant” ore stockpile.
The company has said that despite the suspension, all affected employees will be paid their monthly basic salaries pursuant to Zambian law.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
