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Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - Says Zambia’s Minister of Finance Situmbeko Musokotwane suspends 15% export duty on precious gemstones and metals through issuing Statutory Instrument No. 4 on Tuesday. Notes the suspension is effective immediately. Adds that following the suspension, the export duty no longer applies to Zambian emeralds mined by Kagem Mining Ltd, which is 75% owned by Gemfields and 23% owned by Zambian government’s Industrial Development Corp. Chief Executive Sean Gilbertson comments: ‘The Zambian emerald sector has delivered phenomenal growth over the last 16 years and is today by a significant margin the world’s largest 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.’ Current stock price: R 1.44 12-month change: up 53% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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