International News
Zambia Lifts 15% Export Duty on Precious Gemstones
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.”
International News
Paraiba Tourmalines Deposit Discovered In Ethiopia
SSEF Said Trace-Element Data From The Suspected Ethiopian Material Overlaps Considerably With Stones From Established Localities, Particularly Brazil
The Swiss Gemmological Institute (SSEF) has received credible reports indicating the discovery of a new deposit of copper-bearing tourmalines, known in the trade as Paraíba tourmalines, in Ethiopia.
The development coincides with the submission of several stones whose geographic origin proved difficult to determine using existing methods. Preliminary analyses suggest some may originate from Ethiopia.
Since their discovery in Brazil in the late 1980s, Paraíba tourmalines have been prized for their vivid “neon” blue and bluish-green colours caused by copper within their crystal structure. Additional deposits were later found in Nigeria and Mozambique, with the latter becoming a major source.
SSEF said trace-element data from the suspected Ethiopian material overlaps considerably with stones from established localities, particularly Brazil, making origin determination challenging. The institute is conducting further research to characterise the new material and refine methods for distinguishing it from copper-bearing tourmalines from other sources.
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