International News
Gemfields’ Latest Emerald Auction Posts Strong Price Recovery
Prices climb to $7 per carat as demand rebounds and Kagem mine challenges ease, lifting 2025 revenues to $79 million.
Gemfields has reported a solid performance at its most recent auction of commercial-grade rough emeralds from the Kagem mine in Zambia, marking a notable improvement in prices. The online sale — with physical viewings held in Jaipur between November 17 and December 4 — generated $25.4 million from 45 lots, with buyers snapping up 98% of the goods on offer.
A total of 3.4 million carats of emeralds were sold, fetching an average of $7 per carat, compared with $4 per carat at a similar sale in September last year. The results come despite operational difficulties at Kagem earlier in the year, when mining activities were briefly halted. Even so, Gemfields confirmed that Kagem’s auction earnings for 2025 have already reached $79 million.

Adrian Banks, managing director for product and sales, noted that pricing strength was visible across all qualities, indicating that the market pressures seen in late 2024 and early 2025 have eased. He added that improved sentiment and consistent demand since the third quarter of 2025 have supported the positive outcome.
Since inaugurating its auction program in 2009, Gemfields has conducted 53 sales of Kagem emeralds, generating a cumulative $1.15 billion in revenue.
International News
GJEPC Auckland Visit Targets Growth In India-NZ Jewellery Trade
The Opportunity In New Zealand Is Significant Relative To The Current Level Of Jewellery Trade. India’s Gem and Jewellery Exports To New Zealand Rose 50.56% To US$25.46 Million In FY2025-26, From US$16.91 Million In FY2024-25.
The GJEPC trade delegation’s Auckland programme has highlighted the scope for expanding India’s gem and jewellery exports to New Zealand as the two countries move towards implementing their recently concluded Free Trade Agreement (FTA).
The Auckland visit was part of GJEPC’s Australia and New Zealand trade delegation, held from 20-26 August 2026, with the delegation focused on connecting Indian manufacturers and exporters with buyers and industry stakeholders across the two markets.
The opportunity in New Zealand is significant relative to the current level of jewellery trade. India’s gem and jewellery exports to New Zealand rose 50.56% to US$25.46 million in FY2025-26, from US$16.91 million in FY2024-25.
The recently concluded India-New Zealand FTA is expected to create further opportunities for Indian exporters. New Zealand has committed to duty-free access for Indian exports across 100% of its tariff lines once the agreement enters into force.
On 26th August, Vijay Mangukiya, Convener – International Events, GJEPC and leader of the delegation, met Dr. Madan Mohan Sethi, Consul General of India in Auckland. Mangukiya has said the delegation was aimed at bringing Indian manufacturers and exporters closer to buyers and industry stakeholders in both Australia and New Zealand, with the objective of identifying new business opportunities and developing long-term partnerships.
The delegation’s Auckland market visits covered a broad cross-section of the local jewellery sector, including Michael Hill, Wallace Bishop, Hardy Brothers, Prouds, and Partridge Jewellers. The delegation also observed international luxury and contemporary jewellery brands including Van Cleef & Arpels, Roberto Coin, Messika and FOPE, reflecting the competitive environment in which Indian exporters would be seeking to establish or expand relationships.
India’s exports of individual jewellery categories to New Zealand also recorded strong growth in FY2025-26. Gold jewellery exports rose 84% to US$17.47 million, while silver jewellery exports doubled to US$0.91 million. Lab-grown diamond exports rose 2% to US$0.63 million, and imitation jewellery increased 13.16% to US$0.43 million. Cut and polished diamond exports were US$5.76 million.
The figures underline the growing contribution of finished jewellery to India’s New Zealand business. With the FTA expected to improve market access and the Auckland market showing demand across gold, diamonds, coloured stones, pearls and branded jewellery, GJEPC’s delegation is seeking to convert this existing growth into deeper commercial relationships.
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