Emerald Auction Results announced
Gemfields Sales 72% of the offered carats earns revenues of USD 22.4 million Gemfields announces the results of an auction of higher quality rough emeralds held in Singapore from 14-17 May 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 auction saw 45 companies placing bids and generating total revenues of USD 22.4 million with an overall average value of USD 71.85 per carat, an all ‐ time record for any Gemfields emerald auction. The auction saw 72% of the offered carats being sold (or 80% of the number of lots offered). Gemfields’ 32 auctions of emeralds and beryl mined at Kagem since July 2009 have generated USD 589 million in total revenues. The results of the five most recent higher quality Kagem auctions are summarised in the table an...