Rough emerald from Zambia
Photo credit: Richa Goyal
An auction of high-quality rough emeralds in Singapore generated a total of US$22.4 million, with the top lot setting a record price per carat for rough Zambian emeralds, according to Gemfields.
The auction, held from May 14 to 17, 2019, featured 35 lots of rough emeralds from Kagem Mining Ltd in Zambia, which is 75-percent owned by Gemfields. The Industrial Development Corporation of Zambia owns the remaining shares.
Gemfields said that of the total lots offered, 28 were sold or about 80 percent, with an average price of US$71.85 per carat.
This latest auction brings total revenues from 32 Kagem auctions since July 2009 to US$589 million.
Adrian Banks, Gemfields’ managing director of Product & Sales, commented, “As the results of this auction show, we continue to see encouraging signs of recovery in the emerald sector. We congratulate Chatree Gems of Thailand – one of our firmly established ruby auction customers ‐ on their participation in their first Gemfields emerald auction. They won three lots of fine-quality emeralds, including the top lot comprising two exceptional gems weighing a total of 62 carats, and which set a new record price per carat for Zambian rough emeralds at a Gemfields auction. The two gemstones have been named ‘Green’ and ‘Ice’ in homage to the 1981 movie starring Omar Sharif and Ryan O’Neal.”