Zambia imposed a 15% export duty on gemstones from the beginning of the year, impacting the Kagem emerald mine ... the company says it will have no choice but to temporarily suspend operations ...

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Coloured precious stones miner Gemfields (LON: GEM) (JSE: GML ... Zambia, the world’s second largest emerald producer after Colombia, first implemented the 15% export duty in early 2019.

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In December, the mine was partly evaculated amid post-election protests. Said Sean Gilbertson, CEO of Gemfields: “Emerald exports are, since 1 January 2025, paused while Zambia’s reintroduced 15% ...