Gemfields has realised US$32 million at its latest auction of high‑quality rough emeralds, signalling renewed appetite for Zambian gemstones after a muted performance late last year.
The miner, best known for its Kagem emerald deposit in Zambia’s Copperbelt, sold all 38 lots offered between 25 August and 11 September. Prices averaged just over US$160 per carat, buoyed by strong bidding both online and through private viewings in Bangkok.
At the centre of the sale was the 11,685‑carat “Imboo” emerald, named after the buffalo in local Bemba and Lamba dialects. While Gemfields did not disclose the winning bid, market estimates suggest the stone alone fetched nearly $2m. Industry analysts note the “Imboo” could yield a suite of fine emeralds destined for high jewellery, or remain intact as a collector’s asset.
The upbeat auction follows a difficult period for Gemfields. Mining at Kagem was paused in January amid oversupply and uncertain sentiment, but operations restarted in May after signs of market stabilisation. With Zambia holding a 25-percent stake in Kagem, the result offers reassurance to both the company and the nation’s gemstone sector. (Photo courtesy: Gemfields’ website)
29-09-2025
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