Grizzly Mining sold $22.4 million worth of emeralds at the latest auction from its Zambia deposit.
The miner sold 157 of the 164 lots on offer at its November sale in Dubai, it said Tuesday. The goods consisted of mid- to-high-grade rough emeralds, with a total of 1.93 million carats purchased.
Altogether, 87 clients from Europe, Asia and Africa participated in the sealed-bid online auction.
“This has been another positive quarter for Grizzly,” said Grizzly chairman Abdoulaye Ndiaye. “Our recent expansion initiatives at our world-class Grizzly emerald mine in Zambia [have] shown strong production numbers, allowing us to hold another medium- to high-grade auction in November.”
Founded in 1997, Grizzly produces 60 million carats of emeralds annually. The miner holds quarterly auctions.
Image: An 835-carat rough emerald. (Grizzly Mining)
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