Before the 15% export tariff, Gemfields suspended production at Kagem, citing market saturation from discounted emeralds.

Coloured stones miner Gemfields has paused the sale of emeralds from the Kagem mine in Zambia, hoping that the government will soon reverse export tariffs.

GEMFIELDS Group said it could resume exports of emeralds from Zambia as a duty on gemstones re-imposed by the southern ...

Zambia, the world’s second largest emerald producer after Colombia ... In 2023, when no export duty was in place, Kagem Mining paid approximately 31% of its revenues to the Zambian government ...

JSE- and LSE-listed Gemfields has reported total auction revenues of $196-million for the year ended December 31, and a net debt position of $80.5-million – before auction receivables of $33.9-million ...

The Guernsey-based miner and marketer of coloured gemstones operates the Kagem emerald mine in Zambia, one of the biggest in the world. Gemfields also owns the Faberge jewellery brand and a ruby ...

In comparison, Brazil and Colombia, the world’s other top emerald exporters alongside Zambia, have significantly lower taxes. Gemfields pointed out that Brazil’s aggregate tax on revenues was ...

As Zambia has ramped up taxes for emerald miners in the country ... a claim had been filed against Kagem by rival miner, Grizzly Mining Limited, its sister company Pridegems Mines Limited ...

Gemfields is faced with a new export tax for shipments of emeralds from Zambia, where it operates the Kagem Emerald Mine. The Zambian woes have been mounting for Gemfields. Last month, the company ...