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Zambia tax hike takes toll on Gemfields investment

First-half results from South Africa-listed Gemfields show Zambia’s decision to slap a 15% export charge on exports of gemstones has adversely affected investment, both in exploration and in mining-funded social programmes.

Zambia tax hike takes toll on Gemfields investment Zambia tax hike takes toll on Gemfields investment Zambia tax hike takes toll on Gemfields investment Zambia tax hike takes toll on Gemfields investment Zambia tax hike takes toll on Gemfields investment

Gemfields' Kagem mining operation in Zambia has been adversely impacted by the country's export tax hike on gemstones

"The export levy adversely impacts the outlook for Kagem, with its cash generation and profitability being drastically reduced," Gemfields says in its H1 results.