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One of the world’s largest producers of emeralds, Grizzly Mining Limited has announced the results of its latest international emerald auction held in Dubai in July 2024. The auction featured mid to high grade rough emeralds from the company’s flagship Grizzly emerald mine in Zambia.
The auction generated a strong revenue of US$32.5 million. It attracted 96 clients from Europe, Asia, and Africa, offering 142 lots for sale. Of these, 134 lots (94.36%) were sold, totaling 1.3 million carats.
Grizzly Chairman Abdoulaye Ndiaye commented on the event, expressing his pleasure at the strong attendance and ongoing demand for high-quality Zambian emeralds. He highlighted the robust bidding, particularly for the 835-carat deep green, medium dark emerald (Bid 137), which saw significant competition. The winning bid was placed by Gemstar LTD., owned by long-term partner Avraham Eshed.
Ndiaye extended his gratitude to all international partners who participated in the auction and acknowledged the efforts of the team in Zambia who made the event possible.
The auction lots were available for in-person viewings in Dubai in July 2024, followed by the auctions conducted via an online platform specifically adapted for Grizzly. This platform facilitated a sealed-bid process for the customers. The auction mix and quality of the lots varied in size, color and clarity due to differences in mined production and market demand.
