Grizzly Sells Giant 4,145-ct Emerald
March 26, 24
(IDEX Online) - Grizzly Mining has reported "strong sales" from its latest auction of rough emeralds in Dubai, which included an exceptional 4,145-carat gemstones that sold for over $1m.
Total sales of the medium-to high-grade rough, through sealed online bids, were $19m. In August Grizzly raised $48.63m, a record high since the company was founded in 1997, from the sale of higher quality goods.
The 4,145-carat emerald was bought by India-based K Sunil Narnoli, a regular Grizzly client.
The sale attracted 76 clients. All but five of the 117 lots were sold.
"Our spring auction was very well attended underpinning the strong demand for high quality Zambian emeralds," said Grizzly chairman Abdoulaye Ndiaye.
Grizzly produces around 60m carats of emeralds and beryl a year from its 100 per cent-owned mine in the Lufwunyama region of northern Zambia.
Pic courtesy Grizzly Mining.