Gemfields has been facing challenges related to the export levy that had forced it to suspend shipments, power cuts and a claim by a rival miner. Photo: Supplied
Gemfields has received a reprieve after the government of Zambia, where it operates the Kagem Mining subsidiary, suspended a 15% levy on gemstone exports.
The company had been facing challenges related to the export levy that had forced it to suspend shipments, power cuts and a claim by a rival miner.
On Wednesday, Gemfields said Zambia’s Minister of Finance of Zambia, Situmbeko Musokotwane, had “suspended the 15% export duty on precious gemstones and metals” through issuance of Statutory Instrument No. 4 of 2025 on Tuesday.
“This suspension is effective immediately. As a result, the 15% export duty on precious gemstones will no longer apply to the Zambian emeralds mined by Kagem,” said the company.
Gemfields controls about 75% of Kagem while the remaining 25% is held by the Zambian government’s Industrial Development Corporation.
Sean Gilbertson, the CEO of Gemfields, said the prompt action by the Zambian government to suspend the export levy comes at a time the Zambian emerald sector has delivered phenomenal growth over the past 16 years, with the southern African country now a top emerald exporter.
“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,” said Gilbertson.
After the levy was implemented in January, Kagem laid out its impact, and had anticipated that the duty would be revoked to allow a commercial-quality emerald auction to go ahead” in the first quarter of the current year.
The Zambian woes have been mounting for Gemfields. Last month, the company said a claim had been filed against Kagem by rival miner, Grizzly Mining Limited, its sister company, Pridegems Mines, and proprietor Abdoulaye Ndiaye.
The claim relates to “alleged unlawful occupation” by Kagem of an area known as Kamakanga House as well as “conspiracy to injure business reputation” and goodwill.
BUSINESS REPORT