13 Apr 2021
DiamondWorld Directory
Home |
Gemfields Announces Lusaka Emerald Auction Results
Auction revenues amounts to USD 11.5 million
By: Diamond World News Service
Feb 25 2020 4:09PM
Reference: 24779  


Gemfields is pleased to announce the result of an auction of predominantly commercial quality rough emerald held
in Lusaka, Zambia from 18-21 February 2020. The emeralds were extracted by Kagem Mining Ltd in Zambia (“Kagem”,
which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of
this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of
Zambia being paid on the full sales prices achieved at the auction.

Highlights – Emerald Auction
• Auction revenues of USD 11.5 million
• Of the 25 lots offered, 19 were sold (76%)
• Average price of USD 4.01 per carat
• 64% of the carats offered were sold
• The 35 auctions of Kagem gemstones held since July 2009 have generated USD 647 million in total revenues

The auction saw 29 companies placing bids, generating total revenues of USD 11.5 million with an overall average
value of USD 4.01 per carat. The auction saw 64% of the offered carats being sold (or 76% of the number of lots
offered). Gemfields’ 35 auctions of emeralds and beryl mined at Kagem since July 2009 have generated USD 647 million in
total revenues. The results of the five most recent commercial quality Kagem auctions are summarised in the table

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Kosher 23460
Kosher 23460
Recent Issue
Kosher 23460
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 28954
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 4719
GJEPC Chairman Interview
Views: 25356
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 34049
Promo for IJ Awards 2012 at NDTV Profit
Views: 47705
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 60606
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 19701
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 46561
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 45428
DW News App
Member of:
Supporter of: