Grizzly Mining’s Dubai Auction Showcases Strong Demand for Zambian Emeralds
Grizzly Mining, a leading emerald producer, recently conducted a successful international emerald auction in Dubai, showcasing medium- to high-grade rough emeralds from its flagship Grizzly emerald mine in Zambia. The auction generated $19 million in sales, with notable interest from 76 clients.
A highlight of the auction was the sale of an exceptional 4,145-carat gem-quality rough emerald, fetching over $1 million. Grizzly’s Chairperson, Abdoulaye Ndiaye, expressed satisfaction with the auction’s outcome, emphasizing the continued strong demand for high-quality Zambian emeralds.
A total of 117 emerald lots were offered, with 112 lots sold and five lots reserved. The auction lots were made available for in-person viewings in Dubai in March, followed by a secure online bidding process tailored for Grizzly’s customers.
Grizzly Mining, renowned for producing premium emeralds and beryl, operates its Grizzly mine in Zambia’s Lufwunyama region, located in the Copperbelt province.
The mine boasts an annual production of approximately 60 million carats, with regular auctions held both domestically and internationally to cater to the global gemstone market’s demand.
