London-based miner Gemfields sold emeralds to the tune of $42.3 million in its latest auction – an all-time record, according to a report in IDEX Online.
The sale of rough emeralds was held in Jaipur, India, between March 15 to April 1, and saw the sale of all 4.52 million carats offered from the Kagem mine in Zambia at a record average price of $9.37 per carat.
Adrian Banks, Gemfields’ MD of product and sales, commented: “Our most recent auction represents one of the most momentous outcomes I’ve experienced in my 23-year career. We’ve witnessed another breakthrough for Kagem emeralds, with an auction of predominantly commercial quality emeralds setting a new all-time revenue record for Kagem and surpassing even our higher-quality auctions.”
