https://www.miningweekly.com

Pallinghurst’s latest auction rakes in $21.5-million

6th October 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – An auction of higher-quality rough emeralds held by JSE-listed Pallinghurst subsidiary, Gemfields, has generated revenues of $21.5-million.

The auction saw 36 companies placing bids with a strong overall average value of $66.21/ct, the second-highest per carat price achieved by Gemfields’ Zambia-based Kagem mine to date.

“I am very pleased with the results of this auction. It was, by weight, the smallest auction of Kagem higher-quality emeralds to date, because of the reduced production experienced over the past 12 months,” noted Gemfields CEO Sean Gilbertson.

The coloured, translucent, 6 100 ct Insofu emerald, mined by Kagem in February 2010, was bought at the auction by high-value gem specialist Dia-Color.

The auction also saw the inaugural commercial deployment of the nano-particle “paternity testing” technology developed Swiss laboratory Gubelin.

The nano-particles, carrying a form of synthetic DNA, which tags the emeralds as having been mined at Kagem, allows for identification of the mine-of-origin for decades to come, providing unparalleled traceability.

All emeralds on offer at the auction were sold.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.109 0.15s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: