Gemfields saw prices and demand increase at its most recent auction of emeralds from the Kagem mine in Zambia amid improved market sentiment.
The miner brought in revenue of $16.4 million from the sale of 2.4 million carats at its April auction of commercial-quality emeralds, it said last week. That compares to revenue of $10.8 million for 2.4 million carats at its last sale, which took place between August and September.
Some 32 of the 36 lots on offer found buyers at the sale, which took place in Jaipur, India, representing 89% of total goods. The number of companies placing bids increased to 50, versus 39 at the previous auction.
The sale total was also aided by the withdrawal of a portion of lower-quality goods, which originally represented approximately 19% of goods at the sale, Gemfields noted.
“Today’s result marks a notable improvement on the disappointing commercial-quality auction held in September 2024,” said Adrian Banks, managing director of product and sales at Gemfields. “An increased number of bids and stronger prices across a broad quality-range point to improved sentiment and demand since our experience in the third quarter 2024.”
Image: Rough emeralds (Gemfields)
