Govt suspends precious stones export duty
By Masauso Mkwayaya
Government has suspended export duty on precious stones and metals from 15 percent to zero.
Finance and National Planning Minister SITUMBEKO MUSOKOTWANE says this is to allow local producers to compete more effectively during auctions and sales on the global market.
Dr. MUSOKOTWANE says the decision has been made and Statutory Instrument Number. 4 of 2025, issued today.
He says Zambian precious stones and metals will now be priced more competitively on the global market.
Dr. MUSOKOTWANE says this will attract greater interest from international buyers and leading to higher sales volumes and increased economic activity in the sector.
The Finance Minister says the measure will also encourage increased investment in the exploration and extraction of precious stones and metals – moving beyond the reliance on traditional mineral exports for foreign exchange earnings.
Dr. MUSOKOTWANE explains that the initiative will boost overall mineral production and ultimately increase the country’s foreign exchange earnings through diversified exports.
He says the suspension is expected to have a positive ripple effect throughout the economy, attracting both local and international investors to Zambia’s mining industry.
Dr. MUSOKOTWANE says Government will strictly monitor the impact of the measure through existing tools to ensure that the anticipated benefits accrue to the country.
This is according to a statement issued to ZNBC News by Secretary to the Treasury FELIX NKULUKUSA.
(Image credit Mining for Zambia)
