Gemfields faces 21% tax as Zambia reinstates export duty
Combined with an existing 6% mineral royalty tax, the 15% export duty on emeralds represents a significant tax burden for Gemfields.
Diamonds.net has reported that global diamond production rose by 26% to $14.41 billion 2011.
In addition, the review outlines Botswana as the top producer (with 22.904 million carats) with Canada ranking third in diamond production (10.795 million carats).
Europe was also the top rough importer in 2011 bringing in $18.51 billion worth of goods, followed by India at $14.28 billion, Israel at $5.32 billion, UAE with $3.96 billion and China with $3.16 billion.
