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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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De Beers Will Partner With International Events Celebrating Nature, Creativity and Craftmanship.

Partnering With Curated, High-Net-Worth Environments De Beers To Engage Directly With Influential Taste-Makers, Art Patrons, and Luxury Consumers.

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De Beers will partner with international events Homo Faber and Frieze Masters as part of its autumn program celebrating nature, creativity and craftmanship.

De Beers’ autumn cultural program exemplifies a sophisticated strategic pivot aimed at enhancing long-term brand equity, reshaping consumer perceptions, and establishing market differentiation in an evolving luxury ecosystem. By entering into strategic partnerships with premier cultural platforms—specifically Homo Faber and Frieze Masters—De Beers moves beyond traditional product marketing. Instead, the firm actively deploys an Experiential Brand Strategy designed to reinforce the inherent emotional and cultural value of natural diamonds.

Key Strategic Objectives

  • Authenticity & Heritage Reinforcement: Leveraging the momentum from its foundational publishing partnership with Assouline (A Diamond Is Forever: The Making of a Cultural Icon 1926–2026), De Beers is orchestrating a high-touch campaign leading up to the 80th anniversary of its signature slogan in 2027. This initiative bridges past historical dominance with modern brand relevance.
  • Elevating the Value Proposition: By framing natural diamonds at the intersection of geological rarity and human artistry, De Beers seeks to protect its premium pricing strategy against lab-grown alternatives. The strategy focuses on narrative-driven value creation, shifting consumer focus from mere commodity trade to tangible cultural stewardship.
  • Target Audience Engagement: Partnering with curated, high-net-worth environments like Es Devlin’s Homo Faber biennial in Venice and Frieze Masters in London allows De Beers to engage directly with influential taste-makers, art patrons, and luxury consumers.
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