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Gemfields generates $43m from Kagem auction sale


GEMFIELDS says it has generated revenue to the tune of US$43.7 million from an auction sale of 35 high-quality rough emeralds produced by Kagem Mine in Lufwanyama, Copperbelt. According to the latest auction results posted on the Gemfields website, the auction, described as successful, was held from May 15 to June 1. Gemfields said the auction had an average price of US$165.55 per carat, which it described as an all-time record for price-per-carat paid for a single auction lot.
The company has held 45 auctions of Kagem gemstones since July 2009, which have generated in excess of US$964 million in revenue. Gemfields product and sales managing director Adrian Banks said CLICK TO READ MORE