Emerald producer Grizzly Mining Ltd raked in US$19 million from the sale of medium- to high-grade emeralds from its Zambian mine, with a 4,145-carat gem-quality rough leading the auction.
The international auction, held in Dubai in March 2024, drew 76 clients from Europe, Asia and Africa. A total of 117 emerald lots were offered for sale, 112 of which were snapped up and five others reserved.
The top lot was the single 4,145-carat gem-quality rough emerald, which sold for over US$1 million to Indian emerald supplier K Sunil Narnoli.
Abdoulaye Ndiaye, chairman of Grizzly, commented, “Our Spring auction was very well attended underpinning the strong demand for high-quality Zambian emeralds.”