Gemfields has raised US$29.6 million through its latest auction of commercial-quality rough emeralds produced by Kagem Mining in Zambia, with all 44 lots successfully sold, resulting in a 100% sell-through rate. The auction was conducted from 24 August to 10 September 2026.
The auction recorded an average realised price of US$9.72 per carat, marking an increase from US$7.46 per carat achieved at the previous commercial-quality Kagem auction held in November–December 2025. Participation also expanded, with 63 companies submitting bids, compared with 55 at the earlier sale.
Gemfields hosted private in-person viewings in Jaipur, followed by a sealed-bid online auction that enabled buyers from multiple markets to participate. According to the company, viewing sessions in Jaipur saw strong engagement, with customers responding favourably to the quality and mix of emerald lots offered.
The emeralds were mined by Kagem, which is 75% owned by Gemfields, while the remaining 25% is held by Zambia’s Industrial Development Corporation. All auction proceeds will be repatriated to Kagem, with royalties paid to the Zambian government based on the full realised sales value.
Gemfields also highlighted that auction performance can differ from one sale to another, depending on factors such as the size, colour and clarity of the gemstones offered, along with prevailing market demand.