Gemfields’ latest rough emerald auction generates $29.6m
Gemfields reports that its latest auction of commercial-quality rough emeralds, recovered from the company's 75%-owned Kagem mine, in Zambia, generated total revenues of $29.6-million.
The auction, which was held in India from August 24 to September 10, resulted in the sale of all 44 lots on offer. The average realised price for the auction was $9.72/ct.
“It has been nine months since our last commercial-quality emerald auction and I am particularly encouraged by this robust result. Viewing activity in Jaipur was intense throughout the auction, reflecting a high level of customer engagement, with very positive feedback regarding both the quality of the emeralds and the composition of the lots offered.
“This result demonstrates continued strong demand for commercial-quality emeralds and reflects the solid production performance delivered by Kagem over the past year.
“Our sincere thanks go to the entire Kagem mining team for their dedication and hard work; to our government partner, Zambia’s Industrial Development Corporation, for its continued support; and to our customers for their ongoing confidence in Kagem’s emeralds. We wish them every success during the forthcoming international gem and jewellery show season,” says Gemfields product and sales MD Adrian Banks.