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A special report has detailed the increasing importance of colour gemstone sales in Afghanistan following the takeover of the Taliban three years ago. | Source: The New York Times

Afghanistan turns to colour gemstones to heal economy

Posted January 21, 2025 | By Samuel Ord

A special report has detailed the increasing importance of colour gemstone sales in Afghanistan following the takeover of the Taliban three years ago.

After two decades, the US occupation of Afghanistan concluded in August 2021, and the World Bank estimates that the country’s economy has shrunk by 25 per cent over the past two years.

In a bid to revive the economy, the Taliban is reportedly prioritising the sale of natural resources, which includes weekly emerald auctions.

Afghanistan is known for many things, including but not limited to conflict, religious extremism, and opium; however, what many may not know is that the country is rich in natural resources.

US research estimates that the country holds $USD1 trillion in mineral deposits. Extensive deposits of copper, gold, zinc, cobalt, and lithium are located in Afghanistan, as are gemstones such as emeralds, rubies, sapphires, garnets, and lapis lazuli.

As part of a special report, the New York Times spoke to jewellers who said they did not mind paying taxes to the Taliban so long as the money was used to improve living conditions for the local population.

“The Taliban are already collecting taxes from emerald sales. Under the previous government, the emerald trade was rife with corruption, with warlords and politically connected dealers controlling it, and tax collection being sporadic at best,” writes David Zucchino.

“However, since the Taliban established weekly emerald auctions, they have gained control and implemented taxes on all sales.”

The report continues: “Dealers who purchase emeralds at these auctions must pay a 10 per cent levy before receiving the gems. The Taliban are also taxing other precious stones, including rubies and sapphires.”

The report found that most emeralds purchased at the weekly auctions are resold to foreign buyers.