https://www.miningweekly.com
Gemfields|Industrial|Gemstones
Gemfields|Industrial|Gemstones
gemfields|industrial|gemstones

Gemfields reports multiple records from latest emerald auction

2nd June 2023

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Dual-listed Gemfields has generated record auction revenue of $43.7-million from the sale of 35 high-quality rough emeralds produced from the Kagem mine.

The auction had an average realised price of $165.55/ct, which also marked an all-time record for any Gemfields emerald auction.

It also recorded an all-time record for price-per-carat paid for a single auction lot.

Gemfields has held 45 auctions of Kagem gemstones since July 2009, which have generated $964-million in revenue.

The latest auction ran from May 15 to June 1.

Gemfields product and sales MD Adrian Banks says the company saw the emerald market normalise appreciably in the last auction of November 2022, when compared with the exuberance of the first half of 2022.

However, it was pleasing to see the market rebound sharply once again.

The auction lots were made available in Bangkok for private, in-person viewings by customers, following which the auctions took place through an online auction platform specifically adapted for Gemfields.

The platform allows for permitted customers from multiple jurisdictions to participate in a sealed-bid process.

Gemfields owns 75% of the Kagem mine, in Zambia, with the Industrial Development Corporation of Zambia holding the balance.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT 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 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (21/06/2024)
21st June 2024 By: Martin Creamer
Magazine round up | 21 June 2024
Magazine round up | 21 June 2024
21st June 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:0.202 0.241s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: