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LONDON (Alliance News) - Gemfields PLC Monday said it has achieved strong sales from its lower grade Lusaka rough emerald and Beryl auction in Zambia.
The rare coloured gemstones mining company with operations in Zambia and 100% ownership of Faberge Limited said it achieved auction revenues of USD16.4 million after selling 4.9 carats of lower-grade gems from its Kagem emerald mine.
Gemfields said it achieved an average price per carat of USD3.32, which represented a 27% increase on its previous lower grade auction record average.
The company said its financial year-to-date auction revenues stand at USD56.4 million, surpassing its all-sources revenue of USD48.4 million achieved in the full financial year to June 30.
Gemfields shares were up 3.6% to 36.90 pence Monday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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