Gemfields announced the auction results of mostly less-quality emeralds and beryl from the Kagem mine, which was held in Lusaka, Zambia. Also at the auction were mainly high-quality amethysts produced by Kariba Minerals Ltd, in which Gemfield's share is 50%.
Revenue from the auction of emeralds and beryl was $ 14.5 million, the average price of stones reached $ 3.72 per carat, which was a new record for auctions of stones of mostly lower quality. However, only 39% (3.9 million carats) of stones were sold from 10.1 million carats sold at auction.
The proceeds from the sale of amethysts amounted to $ 0.45 million.
Gemfields conducted 18 auctions of emeralds from the Kagem mine brought the company $ 325 million since 2009.
Gemfields CEO Ian Harebottle said: "We set a new record for one carat at an auction of mostly less quality emeralds and beryl, and for the time being this is our seventh successful auction in Zambia, all in the past 22 months.
I'm glad that 88% of all lots for sale have been bought, and buyers continue to show a high level of interest in emeralds from Zambia.Gemfields is increasingly becoming the chosen supplier of many of the world's leading cutting and jewelry companies. "
The next Gemfields auction will be held in Jaipur at the end of March this year. On it, the company will present mainly less quality rubies and corundums from its Montepuez mine in Mozambique.