LONDON (Alliance News) - Gemfields PLC on Monday said it sold emeralds and amethyst at an auction in Lusaka in Zambia over the weekend, raising around USD33.3 million.
Gemfields said the emerald auction raised a total of USD33.1 million. Pricing for higher-quality auctions averaged USD70.68 per carat, a new record.
Of the 558,000 carats put on sale, 469,000 were sold, or 84%, Gemfields said.
At the amethyst auction, total revenue hit USD220,000, with the average realised price USD3.26 per carat. Of the 9.4 million carats on sale, 6.6 million were sold, or 70%.
The gems were sold after being mined by Kagem Mining Ltd, 75%-owned by Gemfields, at the Kagem mine in Zambia. The next auction for Kagem production will be of lower-quality emeralds and beryl, to be held in Jaipur, India in May.
Gemfields shares were down 0.4% to 44.44 pence Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Gemfields Grou. (GEM)