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Zambia Lifts 15% Export Duty on Precious Gemstones

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Gemfields Group Limited has expressed strong support for the Zambian government’s decision to suspend the 15% export duty on precious gemstones and metals, a move expected to significantly boost the country’s emerald industry. The suspension, announced by Zambia’s Minister of Finance, Dr. Situmbeko Musokotwane, is effective immediately, meaning the duty will no longer apply to emeralds mined by Kagem Mining Limited. The company is majority-owned by Gemfields (75%) with the remaining 25% held by Zambia’s Industrial Development Corporation.

Gemfields CEO, Sean Gilbertson, lauded the government’s swift action, stating, “We express our sincere thanks to President Hakainde Hichilema’s government for their prompt and impressive action in addressing the 15% export duty on precious gemstones. The Zambian emerald sector has experienced exceptional growth over the past 16 years and is now the world’s largest emerald exporter. This decision signals a clear commitment to fostering growth and job creation in Zambia, putting our industry back on track for continued success.”

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International News

Cartier Reimagines an Icon: The Ruby-Set ‘Juste un Clou’ Debuts for Lunar New Year

A Fusion of Industrial Rebellion and Festive Elegance Marks a Limited-Edition Celebration of Luck and Prosperity.

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In a bold intersection of high-fashion defiance and cultural tradition, Cartier has unveiled a limited-edition interpretation of its legendary Juste un Clou collection. This special release sees the iconic “nail” silhouette transformed with a festive row of vivid red rubies, launched specifically to commemorate the Lunar New Year.

Originally conceived in 1970s New York by designer Aldo Cipullo, the Juste un Clou has long been a symbol of the “rebellious spirit” and the elevation of the ordinary into the extraordinary. By integrating rubies—stones that traditionally symbolize luck, vitality, and renewal—Cartier effectively bridges its radical Western design heritage with the deep-rooted values of the East.

The collection features the signature wrap-around nail design in gold in bracelets, necklaces, earrings & rings with the “head” and “point” of the nail meticulously pavé-set with high-quality rubies. Industry experts view this move as a strategic masterstroke, as the “festive red” aesthetic continues to be a primary driver for luxury consumption during the spring transition.

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