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Grizzly emerald auction generates $19m in sales

22nd March 2024

By: Sabrina Jardim

Creamer Media Online Writer

     

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Emerald producer Grizzly Mining’s latest international emerald auction, in Dubai, of medium- to high-grade rough emeralds recovered from its flagship Grizzly emerald mine, in Zambia, generated $19-million worth of sales.

With 76 clients having attended, the auction saw a single exceptional 4 145 ct gem-quality rough emerald sell for over $1-million.

“I am pleased to announce another strong auction from Grizzly Mining. Our Spring auction was very well attended, underpinning the strong demand for high-quality Zambian emeralds,” says Grizzly chairperson Abdoulaye Ndiaye.

One-hundred-and-seventeen emerald lots were offered for sale, 112 of which were sold, with five lots reserved.

The auction lots were made available in Dubai for in-person viewings by customers in March. Following the viewings, the auction took place through an online platform specifically adapted for Grizzly, allowing customers to participate in a secure, confidential sealed-bid process.

Grizzly Mining produces high-quality emeralds and beryl for the international gemstone market from its 100%-owned Grizzly mine in Lufwunyama region in the Copperbelt province of northern Zambia.

The mine produces about 60-million carats a year, with quarterly auctions held both in- country and internationally.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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