Gemfields Sell a Record $42.3m of Emeralds
April 10, 22
(IDEX Online) - Gemfields announced an all-time record at its latest auction, with the sale of emeralds worth $42.3m.
The London-based miner said it sold all of the 4.52m carats offered from the Kagem mine in Zambia, in which it holds a 75 per cent stake, at a record price of $9.37 per carat.
The sale of rough emeralds was held in Jaipur, India from 15 March to 1 April 2022.
"Our most recent auction represents one of the most momentous outcomes I've experienced in my 23-year career," said Adrian Banks, Gemfields' MD of product and sales.
"We've witnessed another breakthrough for Kagem emeralds, with an auction of predominantly commercial quality emeralds setting a new all-time revenue record for Kagem and surpassing even our higher-quality auctions."