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Sapphire, corundum & ruby auction revenues of US$2.3mn Gemfields announces the results of an auction of predominantly commercial-quality sapphire, corundum and commercial-quality ruby held from 2 to 4 September 2024. Key takeaways are, 1: MRM Commercial-Quality Auction – September 2024, 2: Auction revenues of USD 2.3 million (2023’s MRM Commercial-Quality Auction: USD 1.5 million).  3: All of the 5.7 million carats (1,130 kilograms) offered in 10 lots were sold (100%), 4: Average sales price of USD 0.41 per carat.  Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented, “We extend our gratitude to the auction participants who made this brief, three-day auction such an enjoyable event. The majority of the auction’s offering consisted of corundum and sapphire, which are considered by- products of MRM. Despite the commercial nature of these goods, the auction saw strong attendance and robust demand.                                                                 

Emerald mini-auction held during The 2 November to 11 December 2020   Gemfields announce the results of its series of five small and sequential emerald auctions held during the period 2 November 2020 – 11 December 2020.   The mini-auctions comprised of a selection of grades that are typically offered at Kagem’s auctions of higher quality emeralds. Selected lots were made available for in-person and private viewings by customers in Tel Aviv, Singapore and Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and permitting customers from multiple jurisdictions to participate in a sealed-bid process.   The emeralds were extracted by Kagem Mining Ltd in Zambia (“Kagem”, which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid o

Overall average value Earned USD 4.39 per carat Gemfields announces the result of an auction of predominantly commercial quality rough emerald held in Lusaka, Zambia in February 2019. The emeralds were extracted by Kagem Mining Ltd in Zambia. The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction. The 31 auctions of Kagem gemstones held since July 2009 have generated USD 567 million in total revenues The auction saw 24 companies placing bids, generating total revenues of USD 10.8 million with an overall average value of USD 4.39 per carat. The auction saw 59% of the offered carats being sold. Gemfields’ 31 st : auctions of emeralds and beryl mined at Kagem since July 2009 have generated USD 567 million in total revenues. The specific auction mix and the exact quality of the lots offered at each auction vary in character