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.

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 ...

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This directly impacts the Zambian emeralds mined by Kagem Mining Limited ("Kagem") which is 75% owned by Gemfields and 25% owned by the Zambian Government's Industrial Development Corporation.

Jan 8 (Reuters) - Coloured gemstone producer Gemfields (GEMGE.L), opens new tab, has asked the Zambian government to remove a recently re-introduced 15% export tax on emeralds to avoid hurting the ...

The southern African country, the world's second largest emerald producer after Colombia, re-introduced the tax on Jan.1, after it was suspended in 2019. "The company will engage with the Zambian ...

ZAMBIA has imposed a shock 15% export duty on precious gemstones adding further pressure on Gemfields which operates the country’s Kagem emerald mine. Sean Gilbertson, CEO of Gemfields said in an ...

The AIM-traded firm said the duty, reintroduced via a statutory instrument, applied to emeralds mined by Kagem Mining, a joint venture between Gemfields, which holds a 75% stake, and the Zambian ...

Gemfields is scrambling for a way out of a 15% tax on exports of emeralds from Zambia, saying the levy should be suspended or removed as it was introduced without consultation and deters investment.