Gemfields Emerald Auction Raises $26.8 Million Amid Cautious Global Market
Gemfields Generates $26.8 Million from Zambia Emerald Auction Despite Global Economic Uncertainty
Johannesburg- and London-listed gemstone miner Gemfields has reported revenue of $26.8 million from its latest auction of higher-quality rough emeralds sourced from the company’s 75%-owned Kagem Mine in Zambia.
The auction, held between May 4 and May 21, saw strong participation, with 36 of the 37 lots offered successfully sold. Out of 185,135 carats made available, 183,385 carats were purchased.
Gemfields achieved an average realised price of $146.08 per carat during the auction.
According to Gemfields Product and Sales Managing Director Adrian Banks, demand for higher-quality emeralds remains relatively stable, although the market is showing signs of caution due to ongoing geopolitical tensions and broader macroeconomic uncertainty.
Banks noted that demand for premium-grade emeralds remained particularly robust, highlighting the rarity and enduring appeal of exceptional gemstones.
He also pointed out that the Indian rupee has depreciated by approximately 10% against the US dollar since Kagem’s previous higher-quality emerald auction in September 2025.
This currency movement has created additional financial pressure for many buyers, particularly those from India, one of the world’s largest gemstone trading hubs.
