7th Sep 2015 07:40
LONDON (Alliance News) - Diamond miner Gemfields PLC on Monday said just over USD35 million was generated from the recent Singapore auctions of emeralds from the Kagem mine in Zambia and amethyst from the Kariba mine in the same country.
Gemfields said the emerald auction generated revenue of USD34.7 million, with the average realised price of USD58.42 per carat, the third-highest figure on record. Gemfields owns a 75% stake in the Kagem mine, with the other 25% owned by Zambia's government.
The amethyst auction generated USD440,000 in revenue, with the average realised price of 4.32 US cents per carat, more than double the 1.77 cents generated in the February auction. Gemfields owns 50% of the Kariba mine, with the balance owned by the Zambian government.
Shares in Gemfields were untraded early Monday, having last traded at 62.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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