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Gemfields|Zambia|Indian Rupee|Kagem|Emeralds|Gemstones|Adrian Banks
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gemfields|zambia|indian-rupee|kagem|emeralds|gemstones|adrian-banks

Gemfields' latest emerald auction yields $26.8m in revenue

22nd May 2026

By: Creamer Media Reporter

     

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Johannesburg- and London-listed gemstone miner Gemfields reports that its latest auction of higher-quality rough emeralds, recovered from the company's 75%-owned Kagem mine, in Zambia, generated $26.8-million.

The auction, held from May 4 to 21, resulted in the sale of 36 of the 37 lots on offer. Of the 185 135 ct on offer, 183 385 ct were sold.

The average realised price for the auction was $146.08/ct.

"This auction result demonstrates that, while demand for higher-quality emeralds remains stable, the market is presently exercising a degree of caution, influenced by ongoing geopolitical tensions and prevailing macroeconomic uncertainty.

"That said, competition and pricing for the top-tier emeralds remained particularly strong, reflecting the rarity and continued desirability of exceptional gems.

"It should also be recognised that the Indian rupee has depreciated by about 10% against the dollar since Kagem's previous higher-quality auction held in September 2025, creating an additional headwind for many customers," Gemfields product and sales MD Adrian Banks comments.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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