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Gemfields Emerald Auction Nets Almost $8M

Jul 28, 2010 2:03 PM   By Jeff Miller
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RAPAPORT... Gemfields reported that a rough emerald auction it held this month realized sales of $7.5 million, with per-carat prices improving 83 percent compared against the company's November auction. Gemfields has sold $26.2 million worth of the gemstones since holding its first emerald auction in July 2009.

The company's chief executive officer (CEO), Ian Harebottle, said, "Gemfields has enjoyed a very good production quarter, a robust year and a highly successful July 2010 auction. The markets for diamonds and gemstones continue to show clear signs of recovery, with per-carat prices received by Gemfields rising dramatically.

"Our marketing initiatives are moving forward apace, as demonstrated by our Emeralds for Elephants project in cooperation with the World Land Trust. Gemfields is delivering solidly on our vision of bringing a regular and reliable supply of emeralds and beryl from a responsible source to the market," Harebottle added.

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