Gemfields Emerald Auction in Singapore-Generated Revenues of 22.4 Million USD
Gemfields is pleased to announce the results of the higher quality rough emeralds auction held in Singapore between 14 – 17 May 2019.
The emeralds were extracted by Kagem Mining Ltd in Zambia and the proceeds of the auction will be fully repatriated to Kagem, Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction.
The auction saw 45 companies placing bids and generating a total revenue of USD 22.4 million with an overall average value of USD 71.85 per carat, an all‐ Time record for any Gemfields emerald auction. The auction saw 72% of the offered carats being sold (or 80% of the number of lots offered).
Gemfields’ 32 auctions of emeralds and beryl mined at Kagem since July 2009 have generated USD 589 million in total revenues.