Grizzly Mining recently earned $32.5 million from its latest emerald auction in Zambia. The auction, held in Dubai in July, saw the sale of 134 out of 142 lots of rough emeralds from the Grizzly mine. These stones, ranging from mid- to high-grade, included a notable 835-carat deep-green rough emerald that attracted competitive bidding and was purchased by Gemstar, based in Israel.
The auction drew participation from 96 customers across Europe, Asia, and Africa, who bid online in sealed bids. Grizzly’s chairman, Abdoulaye Ndiaye, expressed satisfaction with the auction’s success, noting strong demand for high-quality Zambian emeralds. He highlighted the vigorous competition for the 835-carat emerald, describing it as a standout moment.
Established in 1997, Grizzly Mining annually produces around 60 million carats of emeralds. The company holds four auctions each year, one per quarter, as part of its business operations.
