Photo Credit: Richa Goyal

Grizzly Emerald auction generates US$22.4 million

One of the world’s largest producers of emeralds, Grizzly Mining’s latest international emerald auction held in Dubai generated US$22.4 million

The auction saw the company offer its latest mid – to high-grade rough emeralds from the flagship Grizzly emerald mine in Zambia. Highlights

With 87 clients in attendance from Europe, Asia, and Africa, the auction generated revenue of US$22.4 million from 164 lots offered for sale, of which 157 lots (95.73 percent) were sold, a total of 1.93 million carats

“This has been another positive quarter for Grizzly. Our recent expansion initiatives at our world class Grizzly emerald mine in Zambia has shown strong production numbers allowing us to hold another medium to high-grade auction in November.

The Grizzly emerald mine is famous for its high quality emeralds and its ability to produce large special stones,” said Abdoulaye Ndiaye, Grizzly Chairman.

The auction lots were made available in Dubai for in-person viewings by customers in November 2024 and following the viewings, the auctions took place via an online auction platform specifically adapted for Grizzly, allowing customers to participate in a sealed-bid process.

In addition, the specific auction mix and the quality of the lots offered at each auction vary in characteristics such as size, colour and clarity on account of variations in mined production and market demand.

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