Gemfields Group Limited (AIM:GEM) shares edged 2% higher to 6p after the miner reported a solid finish to the year from its latest commercial-quality emerald auction.
The sale, which ran from 17 November to 4 December, brought in $25.4 million, with 45 of 46 lots sold and an average price of $7.46 per carat.
It marks a strong recovery for Kagem, Gemfields’ Zambian mine, which endured a temporary shutdown earlier in the year but still generated $79 million in auction revenues for 2025.
Management said pricing strengthened across all quality bands, suggesting the squeeze seen in late 2024 and early 2025 has eased as sentiment improved.
Buyers viewed stones in Jaipur before submitting sealed bids online, a format Gemfields has now used for 53 auctions since 2009, generating a total $1.147 billion.
Proceeds from the latest sale will be repatriated to Kagem, with full royalties paid to the Zambian government.