JOHANNESBURG (miningweekly.com) – The latest auctions of emerald and beryl and amethyst mined at Aim-listed Gemfields’ operations have realised revenues of $14.95-million.
The third auction of emerald and beryl from the company’s 75%-owned Kagem mine, in Zambia, for the current financial year, saw the sale of 10.1-million carats of lower-quality gemstones at an average price of $3.72/ct.
Nineteen of the 26 lots on offer were sold.
"We've set another record for realised per carat prices at an auction of lower-quality emerald and beryl and have now completed seven successful auctions in Zambia, all during the last 22 months.
“It is pleasing to see a total of 88% of the total value of the lots placed on offer being bought and Zambian emeralds continuing to enjoy such firm demand,” commented CEO Ian Harebottle.
The auction, in which 21 companies participated, realised revenues of $14.5-million, taking the total revenues earned from the 18 emerald and beryl auctions held by the company since July 2009 to $325-million.
Further, an auction of 27.7-million carats of higher-quality amethyst recovered at Gemfields’ 50%-owned Kariba Minerals operation, in Zambia, resulted in revenues of $450 000.
Thirteen of the 14 lots on offer were sold, with the auction realising an average price of $1.77/ct.
Gemfields had only held one prior auction of amethyst in March 2011, to test market demand.
The Aim-listed company’s next auction, comprising predominantly lower-quality rough rubies and corundum mined at its 75%-owned Montepuez ruby deposit, in Mozambique, would be held later this month.