Gemfields raked in $42.3-million in revenue from the sale of emeralds mined at its Kagem mine, in Zambia.
The auctions of the rough emeralds took place in India from March 15 to April 1.
It said 4.52-million carats were sold to 56 companies at an average price of $9.37 per carat – a record for Kagem’s commercial-quality auctions.
Gemfields has since July 2009 generated $792-million from 40 auctions of Kagem gemstones.
“We have 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,” said Gemfields product and sales managing director Adrian Banks.
“Today’s result underscores just how big that step-change is and we’re delighted to see the coloured gemstone industry firing on all cylinders.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, in Zimbabwe, Rough&Polished
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