Lusaka, Zambia: 10th December 2024, Grizzly Mining Limited, one of the world’s largest producers of emeralds, is pleased to announce the results of its latest international emerald auction held in Dubai in November 2024. The auction saw the Company offer its latest mid – to high-grade rough emeralds from the flagship Grizzly emerald mine in Zambia.
Highlights
- Auction generates revenue of US$22.4 million
- 87 clients in attendance from Europe, Asia, and Africa
- 164 lots were offered for sale, of which 157 lots (95.73%) were sold, a total of 1.93 million carats
Abdoulaye Ndiaye, Grizzly Chairman, commented:
“This has been another positive quarter for Grizzly. Our recent expansion initiatives at our world class Grizzly emerald mine in Zambia has shown strong production numbers allowing us to hold another medium to high-grade auction in November.
The Grizzly emerald mine is famous for its high quality emeralds and its ability to produce large special stones.
I would like to thank all our international partners who participated in the auction, and our team in Zambia who have worked to make this happen. ”
Auction Results
The auction lots were made available in Dubai for in-person viewings by customers in November 2024. Following the viewings, the auctions took place via an online auction platform specifically adapted for Grizzly, allowing customers to participate in a sealed-bid process.
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.
About Grizzly Mining Limited
Founded by current Chair, Abdoulaye Ndiaye, in 1997, Grizzly Mining has been producing high-quality emeralds and beryl for the international gemstone market for over 27 years from its 100% owned flagship Grizzly mine in Lufwanyama region in the Copper-belt province of northern Zambia.
The mine produces circa. 60 million carats a year, with quarterly auctions both in country and internationally. Zambia accounts for 70% of the world’s production of rough emeralds.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
