Wed, 23 Nov 2016 12:05:37 +0000 ZAMBIA is losing colossal sums of money through smuggling of emeralds says, Emerald and Semi-precious Stones Mining Association of Zambia (ESMAZ) president Victor Kalesha. Mr Kalesha expressed concern on the large quantities of emeralds which were being smuggled out of Zambia making Government lose out a lot of revenue. He said that failure by authorities to seal smuggling passage ways was acting as a barrier in attracting investors to the sector. He said the association had noticed that investors were not willing to put their money in the emerald sector because they could buy the precious stones cheaply on the black market. “We need Government to put up stringent mechanisms to discourage illegal trade and export of gemstones especially emeralds. “It is amazing that people with no mines are able to survive financially and comfortably while people with mines can’t afford to acquire investment into their mines,” said Mr Kalesha. […]
