.Harebottle

By JAMES KUNDA –

GEMFIELDS Plc has realised US$34.9 million from the auction of predominantly higher quality rough emeralds from Kagem mining Limited held in Lusaka recently.
Gemfields Plc chief executive officer Ian Harebottle said in a statement yesterday that this was the second highest revenue mark achieved by Gemfields at any of the auctions for higher quality emeralds.
Mr Harebottle said the company’s 17 auctions of emeralds and beryl mined at Kagem since July 2009 have generated $311 million in total revenues.
He said the average price realised was $65.89 per carat, equally a new record for higher quality auctions at the event which was the sixth auction held in Lusaka since April 2013.
Mr Harebottle said 34 companies bid in what was the second Gemfields auction during the current financial year ending 30 June 2015.
“The auction saw 0.598 million carats of higher quality emerald extracted from Kagem placed on offer, with 16 of the 17 lots offered being sold, generating auction revenues of $34.9 million”.
“The auction realised an overall average value of $65.89 per carat, a new record for auctions of predominately higher quality material mined at Kagem,” Mr Harebottle said.
He said Gemfields was delighted to see the continued enthusiasm for coloured gemstones so clearly reflected in its latest auction results.
Mr Harebottle said Zambian emeralds were well established and highly sought after in the international market, playing an increasingly prominent role for many of the world’s leading jewellery houses.