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Gemfields Generates $4.8 Million from Mini-Auction of Higher-Quality Emeralds

Mini-auction of unsold emeralds from November 2024 shows a promising rise in demand and prices, with 77% of lots sold.

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Gemfields has reported strong results from its mini-auction held from February 19 to 21, 2025, featuring higher-quality emeralds that had remained unsold during its November 2024 auction. The event raised $4.8 million in revenue, signaling a notable recovery in demand and pricing within the emerald market.

Auction Performance:

  • Total revenue: $4.8 million
  • Lots sold: 10 out of 13 (77%)
  • Carats sold: 45,864 out of 59,192 (77%)
  • Average price per carat: $105.49

Adrian Banks, Managing Director of Product & Sales at Gemfields, highlighted that the auction offered a valuable opportunity to assess current market trends. “This auction exclusively featured unsold lots from Kagem’s November 2024 higher-quality emerald auction. With the same schedules in place, we could directly compare demand and pricing, and it was encouraging to see a notable increase in bids. Despite a subdued market sentiment, the rise in demand and pricing is a positive sign for the sector,” said Banks.

The emeralds sold were mined at the Kagem mine in Zambia, where Gemfields holds a 75% stake, while the Industrial Development Corporation of Zambia owns the remaining 25%. Proceeds from the auction will be fully repatriated to Kagem, with royalties paid to the Government of Zambia based on the final sales prices.

With positive market signs emerging, Gemfields remains optimistic about the upcoming trade shows in Bangkok and Hong Kong, anticipating further recovery in the emerald market.

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The London Bullion Market Association Releases Country of Origin (CoO) Sourcing Report

Data Highlights Overall Stability In Gold Sourcing, A Slight Contraction In Silver Volumes

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The London Bullion Market Association (LBMA) released its latest seven-year Country of Origin (CoO) sourcing report for Good Delivery List (GDL) refiners. The data highlights overall stability in gold sourcing, a slight contraction in silver volumes, and a continued dominance of recycled material across both metals.

Key Data Highlights

Gold Sourcing (5,536 tonnes total | â–² 3% YoY)

Recycled Gold: Rose 7% to 3,755 tonnes, making up the bulk of overall supply.

Mined Gold: Dropped 5% to 1,782 tonnes.

Artisanal & Small-Scale Mining (ASM): Rose 24% to 54.6 tonnes (led by Bolivia at 18 t, Peru at 16 t, and the Philippines at 8 t).

Note

LBMA captures only a fraction of total global ASM production, estimated by Metals Focus at ~845 tonnes.

Silver Sourcing (33,446 tonnes total | â–¼ 3% YoY)

Recycled Silver: 18,885 tonnes; Mined Silver: 14,561 tonnes

Notable Country-Level Trends

China: Gold recycling surged by 190 tonnes to reach 908 tonnes. In silver, reported mining volume spiked to 5,272 tonnes (up 2,212 tonnes), contrasting with independent estimates showing a modest national mine output drop.

Switzerland: Maintained its status as the largest European source for gold, accounting for 743 tonnes.

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