Chopard Unveils Collection from 6,225-ct Emerald

Chopard has unveiled a high jewelry collection crafted from one of the world’s largest emeralds.

The Swiss jeweler bought the 6,225-carat monster (1.22kg) from Gemfields in 2018 for an undisclosed sum.

The rough emerald, named Insofu -“elephant” in the local Bemba language – has since yielded 850 carats of gem quality emeralds, the first of which now feature in a 15-piece ensemble of necklaces, chokers, rings, earrings, a bracelet, and a watch.

Among the highlights of the Insofu collection are an elephant-shaped pendant with 50 carats of emeralds, and diamonds forming tusks, which can also be worn as a brooch; a Great Gatsby-inspired 4-in-1 necklace featuring a 15.53-carat octagonal emerald and a diamond choker with a 2.50-carat square-cut emerald.

Insofu was recovered by London-based Gemfields at its Kagem mine, in Zambia.

At the time Gemfields CEO Ian Harebottle said: “This is a unique find. The Insofu displays wonderful color and good translucency. Its sheer size, rich color and fine protective biotite shell makes it difficult to see deep into the gem.

“However, all indications suggest that the core of the emerald is competent and that it should yield a number of cut gems of significant size.”

Source: DCLA

Gemfields Hit by Shock 15% Export Tax on Emeralds

Gemfields is reeling from the shock imposition of a 15 per cent export duty on the emeralds it mines in Zambia.

The duty on precious gemstones was originally introduced at the start of 2019, but was suspended a year later after protests. It was re-introduced, without warning, on 1 January 2025.

The re-introduction is a further blow for Gemfields, which announced last month that it would have to halt operations at the Kagem mine for up to six months as part of a package of cost-cutting measures.

In a statement the UK-based miner said there had been no notice or prior consultation about re-introducing the duty, and said it was calling on the Zambian government to reverse its position.

“This 15 per cent export duty now applies on top of the existing 6 per cent mineral royalty tax and meaning that Kagem faces an effective tax on revenues of 21 per cent (in addition to corporation tax of 30 per cent),” it said.

Brazil and Colombia, also major emerald producers, impose lesser tax burdens, it noted.

“Brazil’s aggregate tax on revenues is 2 per cent (in the form of mineral royalty) and Colombia’s aggregate tax on revenues is 2.5 per cent (being a 1.5 per cent mineral royalty and a 1 per cent national emerald fund contribution) in addition to corporation taxes of 34 per cent and 33 per cent respectively.”

Source: DCLA