Pallinghurst’s latest auction rakes in $21.5-million
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.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation