|
|
Gemfields Sets $55M Auction Record
Jun 19, 2017 5:35 AM
By Rapaport News
|
|
|
RAPAPORT... Gemfields recorded its highest auction total as it sold
$54.8 million worth of rubies and corundum in Singapore last week.
The sale fetched an average of $61 per carat for
895,848 carats, out of just over 1 million carats that were on offer, the
miner said. The event sold 85% by volume and 98% by value.
The revenue figure is 24% higher than Gemfields’ previous
auction record of $44.3 million at a ruby sale in June 2016.
Gemfields sources the stones from its Montepuez mine in
Mozambique. It also operates the Kagem emerald mine in Zambia and
holds a 50% stake in the country’s
Kariba amethyst mine.
“The prices achieved at this auction, combined with the high
percentage of goods sold, highlight our belief in the ongoing increase in
demand for responsibly sourced Mozambican rubies across key markets and jewelry
categories,” Gemfields CEO Ian Harebottle said. “The response received from our
customers was very encouraging, and they share our excitement about the future
potential for the ruby industry.”
Gemfields is currently the subject of a bidding war, with
shareholder Pallinghurst Resources and China-based Fosun both putting in
separate proposals to acquire the company.
|
|
|
|
|
|
|
|
|
|
Tags:
amethyst, auction, colored gemstones, corundum, emerald, Gemfields, gemstones, Ian Harebottle, Kagem, Kariba, mining, Montepuez, Mozambican rubies, Mozambique, Rapaport News, rubies, ruby, Singapore, zambia
|
|
|
|
|
|
|
|
|
|
|
|
|