Grizzly earns $22m from latest emerald auction
Emerald producer Grizzly Mining has generated $22.4-million of revenue from its latest auction, held in Dubai.
The company offered mid- to high-grade rough emeralds produced from the Grizzly mine in Zambia.
Of the 164 lots on offer, 157 lots were sold, totalling 1.93-million carats.
The auction contributes to a positive quarter for the company, with recent expansion initiatives at the mine also having shown strong production numbers, comments chairperson Abdoulaye Ndiaye.
The Grizzly mine has been producing emeralds and beryl for the international gemstone market for more than 27 years, producing about 60-million carats a year.
Zambia accounts for 70% of the world’s rough emerald production.
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