Gemfields Group Limited reported revenues of $ 26.8 million from its May 2026 higher-quality rough emerald auction, held between May 4 and May 21, 2026. The auction achieved sales of 183,385 carats out of 185,135 carats offered, representing a 99% sell-through by weight. Thirty-six of the 37 lots offered were sold, with an average realized price of $ 146.08 per carat.

The emeralds were extracted by Kagem Mining in Zambia, which is 75% owned by Gemfields and 25% owned by the Industrial Development Corporation of Zambia. The auction lots were made available for private in-person viewings in Bangkok before bidding was conducted through Gemfields’ online sealed-bid auction platform.

Adrian Banks, Managing Director of Product & Sales at Gemfields, said, “This auction result demonstrates that, while demand for higher-quality emeralds remains stable, the market is presently exercising a degree of caution, influenced by ongoing geopolitical tensions and prevailing macroeconomic uncertainty.” Banks added that pricing for top-tier emeralds remained strong despite market caution. He also noted that the Indian Rupee had depreciated by approximately 10% against the US Dollar since Kagem’s previous higher-quality auction in September 2025, creating “an additional headwind for many customers.”

Compared with Gemfields’ September 2025 higher-quality emerald auction, total revenues declined from $ 32 million to $ 26.8 million, while the average price per carat decreased from $ 160.78 to $ 146.08. The number of bidding companies also fell from 65 to 57. Gemfields also announced adjustments to its ruby auction schedule for the remainder of 2026. The company cited lower-than-expected ruby production at Montepuez Ruby Mining, liquidity concerns in the ruby market and subdued Chinese demand as reasons for hosting a smaller June ruby auction and maintaining flexibility on future auction timing and scale. The company said proceeds from the emerald auction would be fully repatriated to Kagem in Zambia, with royalties payable to the Government of Zambia on the full sales value achieved.