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Gemfields’ Lower-Quality Emeralds Hit New Price Record
May 23, 2016 7:05 AM
By Rapaport News
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RAPAPORT... Gemfields announced a new record average price for its
lower-quality gemstones sold at an auction of rough emeralds in India last
week.
The miner said it sold 2.78 million carats of gems extracted
from its Kagem mine in Zambia for $14.3 million, implying an average price per
carat of $5.15. The auction was held in the north Indian city of Jaipur from
May 17 to 20.
The company is “confident that these numbers will be well
surpassed in the years to come,” said Ian Harebottle, Gemfields’ chief
executive officer.
The previous lower-quality sale of Kagem emeralds in Jaipur
in November fetched $19.2 million at an average price of $4.32 per carat.
The average price increased last week even though certain
goods failed to achieve their reserve price and were, therefore, held back. The
company is “confident” about the quality and longer-term value of these lots.
Gemfields sold 14 out of 18 lots on offer, or 78
percent. It sold 76 percent by weight
and 79 percent by value.
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Tags:
Auctions, colored gemstones, emerald, emeralds, Gemfields, gemstones, India, jaipur, Kagem, Kagem mine, mining, Rapaport News, zambia
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