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. Therefore, the results of each auction are not always directly comparable.
December 2025 Commercial-Quality Emerald Auction Highlights
- Total auction revenues of USD 25.4 million
- 46 lots were offered for sale and 45 were sold (98%)
- Average price of USD 7.46 per carat
- The 53 auctions of Kagem gemstones held since July 2009 have generated USD 1.147 billion in total revenues
Auction Mix and Comparability Note
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. Therefore, the results of each auction are not always directly comparable.
Gemfields’ Managing Director’s Commentary
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented: “Today’s auction results mark a successful conclusion to a challenging year for Kagem. Following the temporary suspension of mining operations during the first half, the business has nonetheless delivered a strong performance for 2025, culminating in this auction’s solid contribution to USD 79 million of total Kagem auction revenues for 2025. The firm pricing seen across all quality categories demonstrates that the pressures experienced at the end of 2024 and early 2025 have largely subsided. Market sentiment has strengthened and the sustained demand observed since the third quarter of 2025 continues to underpin robust performance. We extend our appreciation to the Kagem team for their continued hard work and extend our thanks also to the Industrial Development Corporation of Zambia, Kagem’s 25% shareholder.”
Auction Viewing and Bidding Process
The auction lots were made available for private, in-person viewings by customers in Jaipur, India. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permits customers from multiple jurisdictions to participate in a sealed- bid process.
Kagem Ownership and Proceeds Repatriation
The rough emeralds sold were extracted by Kagem (which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatriated to Kagem in Zambia with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction.
Results Summary
The results of the five most recent commercial-quality Kagem auctions are summarised in the table below (and earlier results are available at www.gemfieldsgroup.com):
Inside Information Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) no. 596/2014 which forms part of domestic UK law pursuant to the European Union (withdrawal) act 2018 (“MAR”)
About Gemfields Group Limited
Gemfields is a world-leading miner of coloured gemstones, which is dual-listed on the Johannesburg and London AIM stock exchanges.
Gemfields is the operator and 75% owner of both Kagem Mining in Zambia (a world-leading emerald mine) and Montepuez Ruby Mining in Mozambique (situated on one of the most significant recently discovered ruby deposits in the world). In addition, Gemfields holds controlling interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique, Ethiopia and Madagascar.
Gemfields introduced a proprietary grading system and pioneering auction platform which have
transformed the coloured gemstone industry. Today, the company implements and invests in industry-leading policies, practices and infrastructure across its operations; aligns with relevant industry standards to underpin its responsible approach, plays an active role in working groups to modernise the sector and raises the profile of African gems through its global marketing efforts.
Gemfields funds projects to improve health, education and livelihoods for communities around its
mines, supports local conservation partners and created the Gemfields Foundation, its charitable
arm, which magnifies the scale of the work already carried out by Gemfields itself.
Gemfields values transparency, legitimacy and integrity, and believes that coloured gemstones should create a positive impact for the countries and communities from which they originate.
About SVAR Media Network – India’s Best Source for Jewellery News, Magazines, Newsletters and Media
SVAR Media Network is India’s No. 1 Destination for Jewellery News, setting the gold standard in timely, trusted, & trend-driven coverage across the Gems & Jewellery industry. As the Most Followed Jewellery Magazine & Media House in India, SVAR delivers Daily Jewellery News India Updates, market insights, & global developments through its platforms like Jewellery Magazine, Newsletters, AI Powered News Bulletins, Website, Social Media, Podcasts, & much more.
Recognized as Asia’s one of the Best Media in Jewellery & one of the World’s Best Jewellery Media, SVAR Media Network sets Unparalleled Standards in the Gems & Jewellery industry. SVAR is the Most Trusted & Widely Read Voice in the Gems & Jewellery Community.
Renowned as India’s Best Jewellery Magazine & Leading Jewellery Media, SVAR blends legacy with cutting-edge innovation by delivering:
- Best in class Jewellery Magazine for the Gems & Jewellery Industry & Jewellery Enthusiasts
- Real-time AI-Powered Jewellery News via SVARA AI, the World’s First AI Anchor in Fashion, Gems & Jewellery Industry
- India’s One of the First Gems & Jewellery Podcasts
- Digital Jewellery Newsletters for professionals and enthusiasts
- ISO 9001:2015 Certification, the first in the jewellery-media sector, proving our commitment to excellence
- Asia’s First & World’s Second Meta Verified Jewellery Media Brand
Ranked #1 among the Top 5 Gems & Jewellery News Websites, Top 10 Jewellery Magazines in India, & Most Influential Jewellery Media Brands, SVAR Media Network is your Trusted Source for Accurate, Fast, & Future-Focused Jewellery News.
SVAR Media Network is India’s No 1 Digital Media in Jewellery Industry & continues to be the Leading Jewellery Magazine & a Global Leader in Jewellery Media. SVAR Media Network offers a diverse range of services, including: Monthly Magazines, Digital Newsletters, Al-Driven News Bulletins, Social Media Promotions, Website Blogs & Articles, WhatsApp Updates, Podcasts & more…
Whether you seek updates on New Launches, Trade Shows, Celebrity Campaigns, Trends or Market Movements, SVAR is the Authority in Jewellery News India & beyond.
Explore the World of Gems & Jewellery with SVAR Media Network — Your Best Source for Trusted, Trend-Setting Jewellery News & Mediapp Updates, Podcasts & more…
