Grizzly Mining sold $24.8 million worth of emeralds at the latest auction of production from its Zambia deposit, which included an exceptional 6,620-carat stone.
Of the 112 lots on offer, 105 found buyers at the miner’s May sale in Dubai, it said Monday. The goods consisted of mid- to high-grade rough emeralds, with a total of 1.5 million carats sold.
Altogether, 123 clients from Europe, Asia and Africa participated in the sealed-bid online auction. Grizzly offered a number of high-grade, high-carat emeralds, which generated a vast amount of attention, Grizzly noted. Primary among these was the Pilala Stone, a 6,620-carat emerald Grizzly recovered from the mine’s Camara pit. The stone has “exceptional transparency and fluorescent color,” which led to highly competitive bidding. KBK Gemstones, of Jaipur, India, won that lot.
“This has been another strong auction for Grizzly,” said Grizzly chairman Abdoulaye Ndiaye. “Our medium- and high-grade stones remain in high demand from our clients, as evidenced by our sales numbers. Hosting these auctions on a regular basis ensures that we can continue to supply the growing market for outstanding colored gemstones.”
Founded in 1997, Grizzly produces 60 million carats of emeralds annually. The miner holds quarterly auctions.
Image: The 6,620-carat emerald. (Grizzly Mining)
