Sparkling Gemfields makes a Record US$31.6 Million from Latest Emerald Auction

A very Jolie result:- On a like-for-like basis, prices have-increased 63 per cent to US$42.7 per carat among the higher quality stones since December 2010, the company revealed.

Gemfields:- weighed in with a sparkling performance as it said it made a record  US$31.6 million from its auction of rough emeralds-held last week in Singapore.
That figure underscores the strong demand for the gemstones, particularly the ethically-sourced variety from the company’s Kagem Mine in Zambia.
On a like-for-like basis, prices have increased 63 per cent to US$42.7 per carat among the higher quality stones since December 2010, the company revealed.
Last week’s was the first auction of the company’s current financial year, but Gemfields has held seven since 2009, which have generated-revenues of US$87.5 million. The next major sale is planned for November.

Chief executive Ian Harebottle said: “Gemfields is delighted to announce record sales from its most recent auction. 
The results are testament to the company's ongoing focus on marketing to both  consumers and retailers, and the quality and consistency of the emeralds  produced at Kagem. 
Our team and industry-partners are working harder than ever to deliver on our vision of ensuring that coloured gemstones are recognised and  appreciated alongside diamonds and other luxury-goods.
Gemfields continues to  deliver on the promises we've made to our clients, consumers and shareholders." 
The Singapore auction was also used as a platform to test the potential-levels of demand for rough emerald and beryl from other sources other than the Kagem Mine such as Brazil and rival Zambian producers. 
The results-weren’t included in today’s update, and Gemfields said it will continue to “refine and evolve” the format.

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