Gemstone miner Gemfields conducted five mini-emerald auctions between November and early December this year, which generated a record $37.9-million revenue.
The emeralds, mined at the company's 75%-owned Kagem mine in Zambia, were sold at an average of $150.65/ct.
"Our end-of-year emerald auction has been one of the most hotly contested auctions in Kagem's history. As a result, the auction set new records for both the highest revenue and the highest average price per carat achieved at any Kagem auction,” said Gemfields product and sales managing director Adrian Banks.
"…the auction result again underscores the step-change in both market demand and in the prices bid by our clients, aided by tightened supply stemming from the one-year suspension of operations at Kagem, the world's largest emerald mine, due to the Covid-19 pandemic.”
The emeralds sold included the 7 525 ct Chipembele, the largest emerald ever to be recovered at the mine.
Gemfields' full-year auction revenues for Kagem emeralds amounts to $92.3 million.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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