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Grizzly Sells 4,145ct. Rough Emerald for over $1M

March 21, 2024  |  Leah Meirovich

Grizzly Mining brought in $19 million in revenue at the most recent auction of emeralds from its deposit in Zambia.

The miner sold 112 of the 117 lots of stones from its Grizzly mine it offered at its March sale in Dubai, it said Wednesday. The goods consisted of mid- to high-grade rough emeralds, the highlight of which was an “exceptional” gem-quality, 4,145-carat rough that fetched more than $1 million. The buyer for that item was K. Sunil Narnoli, an Indian gemstone manufacturer.

In total, 76 clients from Europe, Asia and Africa participated in the sealed-bid online auction.

Rough emeralds. (Grizzly Mining)

“I am pleased to announce another strong auction,” said Grizzly chairman Abdoulaye Ndiaye. “Our spring auction was very well-attended, underpinning the strong demand for high-quality Zambian emeralds. [There was] such strong bidding for the exceptional 4,145-carat stone, and my congratulations to the winning client. We look forward to seeing their work on this unique stone in the coming months.”

Grizzly, founded in 1997, produces approximately 60 million carats of emeralds annually. The company holds four auctions a year, one during each quarter.

Main image: The 4,145-carat emerald. (Grizzly Mining)

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Grizzly Sells 4,145ct. Rough Emerald for over $1M

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