Gemfields has generated US$29.6 million from its latest auction of commercial-quality rough emeralds from Kagem Mining in Zambia, with all 44 lots sold, achieving a 100% sell-through rate. The auction was held from 24 August to 10 September 2026.
The sale achieved an average realised price of US$9.72 per carat, up from US$7.46 per carat at the previous commercial-quality Kagem auction in November–December 2025. The number of companies placing bids also rose to 63, compared with 55 previously.
Private in-person viewings were held in Jaipur, followed by a sealed-bid online auction that allowed customers across multiple jurisdictions to participate. Gemfields said viewing activity in Jaipur was intense, with customers responding positively to the quality and composition of the lots.
The emeralds were extracted by Kagem, which is 75% owned by Gemfields and 25% by Zambia’s Industrial Development Corporation. Auction proceeds will be fully repatriated to Kagem, with royalties payable to the Zambian government on the full sales prices achieved.
Gemfields noted that auction results can vary depending on the size, colour and clarity of the material offered, as well as market demand.