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An auction of “higher-quality” rough Zambian emeralds broke records when the gems achieved a per-carat price of US$82.26, revealed gemstone specialist Gemfields.
Total revenues from the sale, held from November 18 to 21 in Singapore, reached US$27.2 million, representing 33 lots sold out of the 38 that were offered. Gemfields said 48 companies placed bids.
The emeralds were mined by Kagem Mining Ltd, where Gemfields has a 75 percent stake.
Since July 2009, 34 Kagem auctions have been held, generating US$635 million in total revenues.
Adrian Banks, Gemfields’ managing director of Product & Sales, commented, “Kagem has realised US$79 million of auction revenues in...
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