Gemfields’ earlier emerald public sale happened in February 2020, with 2.9 million carats producing income of $11.5 million at a mean value of $4.01 a carat.
The corporate, which returned to the London Stock Exchange’s market for juniors final yr, mentioned all of the auctioned emeralds have been extracted by its 75%-owned subsidiary Kagem Mining, in Zambia.
Whereas Gemfield’s shares have been buying and selling 6% increased in London at 11.5p by 3:40pm GMT, its Johannesburg shares have been 7% increased at ZAR2.30.
Gemfields’ 38 auctions of emeralds and beryl mined at Kagem since July 2009 have now generated $712 million in whole revenues, the corporate mentioned.
“Our most up-to-date public sale of business high quality emeralds generated essentially the most fervent bidding exercise we’ve seen within the final decade,” managing director of product and gross sales, Adrian Banks, mentioned within the assertion.
“A number of new data have been set for this public sale class together with the very best ever public sale income, the very best ever common value per carat achieved and the very best variety of corporations taking part within the bidding, “ Banks added.
Gemfields, which has operations in each Mozambique and Zambia, has stepped up efforts to market its emeralds and rubies in China after a report highlighted the “big potential” for ethically sourced gems in that market.
High diamond miners are already stepping up efforts in that course. The Pure Diamond Council (NDC), which teams the world’s seven main producers, launched in Could its first promoting marketing campaign concentrating on the Asian and US markets.
NDC additionally inked a deal with China’s top jewellery retailer Chow Tai Fook to spice up demand for mined rocks.