Incorporated in Guernsey. Guernsey registration number: 47656
South African external company registration number: 2009/012636/10
Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Group" or the "Company")
Auction Results: Commercial-Quality Emeralds
LONDON, 30 APRIL 2025
Gemfields announces the results of an auction comprised of commercial-quality rough emeralds held during the period 11 - 29 April 2025.
Highlights: April 2025 Commercial-Quality Emerald Auction
· Total auction revenues of USD 16.4 million
· 36 lots were offered for sale, of which 32 were sold (89%)
· Average price of USD 6.87 per carat
· The 51 auctions of Kagem gemstones held since July 2009 have generated USD 1,090 million in total revenues
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. Therefore, the results of each auction are not always directly comparable.
Adrian Banks, Gemfields' Managing Director of Product & Sales, commented:
"Today's result marks a notable improvement on the disappointing commercial-quality auction held in September 2024. An increased number of bids and stronger prices across a broad quality-range point to improved sentiment and demand since our experience in Q3 2024.
The overall USD per carat realisation has been positively skewed by the withdrawal of a schedule comprising very low-quality material, weighing 112,000 grams and representing 18.5% of the total weight offering.
We extend our appreciation to the Kagem team and to the Government of the Republic of Zambia, Kagem's 25% shareholder."
The auction lots were made available for private, in-person viewings by customers in Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed-bid process.
The rough emeralds sold were extracted by Kagem (which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatriated to Kagem in Zambia with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction.
The results of the five most recent commercial-quality Kagem auctions are summarised in the table below (and earlier results are available at www.gemfieldsgroup.com):
| AUCTION RESULTS (COMMERCIAL QUALITY) | Mar '23 Auction | Aug-Sep '23 Auction | Mar '24 Auction | Aug-Sep '24 Auction | Apr '25 Auction |
| Dates | 6 - 24 Mar 2023 | 29 Aug - 15 Sept 2023 | 5 - 22 Mar 2024 | 27 Aug - 13 Sep 2024 | 11 - 29 Apr 2025 |
| Location | Jaipur, India / Online | Jaipur, India / Online | Jaipur, India / Online | Jaipur, India / Online | Jaipur, India / Online |
| Type | Commercial Quality | Commercial Quality | Commercial Quality | Commercial Quality | Commercial Quality |
| Carats offered | 3,148,710 | 3,392,395 | 4,171,375 | 3,978,450 | 3,029,690 |
| Carats sold | 2,974,710 | 3,392,395 | 3,854,950 | 2,423,550 | 2,388,190 |
| No. of companies placing bids | 45 | 50 | 50 | 39 | 50 |
| No. of lots offered | 29 | 43 | 43 | 46 | 36 |
| No. of lots sold | 25 | 43 | 40 | 28 | 32 |
| Percentage of lots sold | 86% | 100% | 93% | 61% | 89% |
| Percentage of lots sold by weight | 94% | 100% | 92% | 61% | 79% |
| Total sales realised at auction | USD 21.2 million | USD 25.5 million | USD 17.1 million | USD 10.8 million | USD 16.4 million |
| Average per carat sales value | USD 7.13/carat | USD 7.51/carat | USD 4.45/carat | USD 4.47/carat | USD 6.87/carat |
-ENDS-
Further information on Gemfields Group Limited can be found at:
To join our investor mailing list, please contact us on:
ir@gemfields.com
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) no. 596/2014 which forms part of domestic UK law pursuant to the European Union (withdrawal) act 2018 ("MAR").
ENQUIRIES
| GEMFIELDS | Sean Gilbertson / David Lovett / Ian Hughes ir@gemfields.com |
| SPONSOR (JSE) | Investec Bank Limited |
| NOMINATED ADVISER | Panmure Liberum |
| PRESS ENQUIRES, GEMFIELDS HEAD OFFICE, LONDON | Helena Choudhury / Albertina Namburete helena.choudhury@gemfields.com / albertina.namburete@gemfields.com |
|
ADDITIONAL INFORMATION ON GEMFIELDS
| |
|
Gemfields is a world-leading responsible miner and marketer of coloured gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world's single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world). In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting licences in Zambia, Mozambique, Ethiopia and Madagascar. | |
|
Gemfields' outright ownership of Fabergé - an iconic and prestigious brand of exceptional heritage - enables Gemfields to optimise positioning, perception and consumer awareness of coloured gemstones through Fabergé designs, advancing the wider group's "mine and market" vision.
Gemfields has developed a proprietary grading system and a pioneering auction platform to provide a consistent supply of coloured gemstones to downstream markets, a key component of Gemfields' business model that has played an important role in the growth of the global coloured gemstone sector.
| |
GEMFIELDS
GEMFIELDS.COM | INVESTORS |FOUNDATION
INSTAGRAM | FACEBOOK | X | YOUTUBE
FABERGÉ
FABERGÉ.COM | INSTAGRAM | FACEBOOK | X | YOUTUBE
KAGEM MINING LIMITED LINKEDIN
MONTEPUEZ RUBY MINING LINKEDIN
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.