Last month the government of Zambia restricted the sale of emeralds extracted in that country. The restriction says that emeralds produced or extracted in Zambia could not be sold abroad and had to be sell in its capital. The decision was taken, as the ministry of mines said “to keep the capital from flying and to deliver Zambians the much-needed resource.”
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The constitutional court in Colombia gave the government a term to present a new Mining Code that complies with the prerequisite of a previous consultation with the ethnic communities involved. This term comes to an end in may 13th, when all 31 articles in the code will become void.
There are four main points of concern within the government. The first one related to the inability to exploit moorlands and wetlands, with the void of the code the inability to exploit them could also be void and these ecosystems could be endangered by the possible mining operations that could be undergone. However there is a plan B regarding this issue, there has already been passed a law within the national development plan that prohibits mining activities in this areas.
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Loose Emerald gemstones are purchased basically for two reasons. The first one is to be used in jewelry applications, to be mounted on rings, earrings, necklaces and many more jewels. The second one is to be used as an investment asset, as many people might purchase gold due to its rise in price which makes it more profitable than many other investments. The rise in prices of emeralds has been steady and proven to be very profitable, specially Colombian loose emeralds, which are considered to be the best in quality and most valued by buyers.
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