Grizzly Emerald Auction Generates Record US$48.63 million

Abdoulaye Ndiaye, Chairman of Grizzly, commented: Abdoulaye Ndiaye, Chairman of Grizzly, commented: "Grizzly has been championing Zambian emeralds for over 25 years and I am pleased to report another successful emerald auction which has seen new records broken. "The market for emeralds remains extremely strong and continues to grow in size each year with Zambian rough accounting for 70% of global supply. I would like to thank all our international partners who participated in the...

Abdoulaye Ndiaye, Chairman of Grizzly, commented:

"Grizzly has been championing Zambian emeralds for over 25 years and I am pleased to report another successful emerald auction which has seen new records broken.

"The market for emeralds remains extremely strong and continues to grow in size each year with Zambian rough accounting for 70% of global supply. I would like to thank all our international partners who participated in the auction.

"We continue to invest in our flagship Grizzly mine in Zambia and this auction will allow us to deliver our ongoing expansion."

Auction Results

The auction lots were made available in Dubai for in-person viewings by customers from 1-7 August 2023. Following the viewings, the auctions took place via an online auction platform specifically adapted for Grizzly, allowing customers to participate in a sealed-bid process.

The specific auction mix and the quality of the lots offered at each auction vary in characteristics such as size, colour and clarity on account of variations in mined production and market demand.

Contact

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About Grizzly Mining Limited

Founded by current Chair, Abdoulaye Ndiaye, in 1997, Grizzly Mining has been producing high-quality emeralds and beryl for the international gemstone market for over 25 years from its 100% owned flagship Grizzly mine in Lufwunyama region in the Copper-belt province of northern Zambia.

The mine produces circa. 60 million carats a year, with quarterly auctions both in-country and internationally. Zambia accounts for 70% of the world's production of rough emeralds.

www.grizzlyemeralds.com 

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