Gemfields Emerald Prices Surge 41% At Zambia Kagem Mine Auction - $32M Revenue Generated

Gemfields reports a 41% price increase in the emerald auction from Zambia's Kagem mine, generating $32 million in revenue with 100% buyer participation. Market recovery signals positive outlook.

Market Recovery Drives Strong Emerald Sales

Gemfields experienced a sharp turnaround in emerald demand at their recent Bangkok auction.

The mining company sold all 38 lots of rough emeralds between August and September 2024.

Revenue reached $32 million from the complete sellout.

Price Jump Signals Market Confidence

Emerald prices climbed significantly from previous auctions:

• Average price: $161 per carat
• Previous November 2024 price: $114 per carat
• Price increase: 41% jump

The auction featured 199,103 carats of high-quality rough emeralds.

Premium stones included the massive 11,685-carat Imboo emerald recovered last month.

Mining Operations Resume After Suspension

Gemfields had suspended Kagem mine operations in January 2025.

The company cited market uncertainty and oversupply of Zambian emeralds as key factors.

Adrian Banks, managing director of product and sales, explains the timeline:

"Mining operations at Kagem were suspended in January 2025 in response to market uncertainty and challenges relating to the oversupply of Zambian emeralds."

Recovery signs emerged at April's commercial-quality auction.

Two mining points reopened in May following positive market indicators.

Long-Term Performance Track Record

Since July 2009, Gemfields has conducted 52 emerald auctions from the Kagem mine.

Total revenue across all auctions: $1.12 billion

The September 2024 auction marks the first high-quality emerald sale since November 2024's disappointing results.

Market Challenges Persist

Despite the positive auction outcome, uncertainties remain:

• US tariff concerns continue
• Market volatility affects long-term planning
• Supply chain disruptions impact operations

The company reports optimism about market recovery trends.

Strong buyer participation suggests renewed confidence in the quality of Zambian emeralds.

What This Means for Emerald Markets

The successful auction indicates several market shifts:

Demand for high-quality emeralds is returning after the 2024 downturn.

Buyers show willingness to pay premium prices for exceptional stones.

Zambian emeralds maintain their reputation in international markets.

The 100% sale rate demonstrates strong buyer confidence in Gemfields' product quality.

Market recovery appears sustainable based on recent auction performance.

Gemfields achieved strong results at their latest emerald auction from Zambia's Kagem mine, generating $32 million in revenue with prices rising 41% to $161 per carat. All 38 lots sold successfully, marking the first high-quality emerald sale since November 2024's poor performance.

Motswedi Diamond: World's Second Largest Diamond Found In Botswana Mine

GIA confirms Motswedi diamond weighs 2,488 carats, making it the second-largest diamond ever discovered. Found at Karowe mine in Botswana in August 2024.

Record-Breaking Diamond Discovery Shakes Gemology World

The Gemological Institute of America has confirmed a massive diamond discovery that rewrites gemology records.

The Motswedi diamond weighs 2,488.32 carats.

That's nearly 1.10 pounds of pure diamond crystal.

Where Was the Motswedi Diamond Found?

Lucara Diamond Corporation recovered this giant gem at their Karowe mine in Botswana.

The discovery happened in August 2024.

Karowe mine has operated since 2012 and built a reputation for producing large, high-quality diamonds.

The mine sits in Botswana, a country known for exceptional diamond deposits.

How Big Is the Motswedi Diamond?

The Motswedi diamond ranks as the second largest diamond ever found.

Only the legendary Cullinan diamond surpasses it at 3,106 carats.

The Cullinan was discovered in South Africa 120 years ago.

At recovery, the Motswedi weighed 2,492 carats. Small fragments broke off during cleaning, reducing its weight to 2,488.32 carats when GIA examined it.

What Makes This Diamond Special?

GIA's examination revealed remarkable characteristics:

• Type IIa diamond - contains no detectable nitrogen
• Single gem-quality crystal - the largest known
• Multiple large blocks with minimal inclusions
• Deep formation - created much deeper in Earth than most diamonds

Dr. Wuyi Wang, GIA's Vice President of Research and Development, led the examination team.

"It is the largest known single crystal diamond in existence," Wang confirmed.

Why Is It Called Motswedi?

The diamond earned its name through a public competition in Botswana.

Motswedi means "water spring" or "source" in Setswana.

Setswana is Botswana's national language.

The name connects this precious gem to its African origins.

Who Examined the Diamond?

GIA's top experts studied the Motswedi at their Gaborone, Botswana laboratory in July 2025.

The examination team included:

• Tom Moses - GIA Executive Vice President and Chief Research Officer
• Dr. Wuyi Wang - Vice President of Research and Development

Moses has examined many significant diamonds throughout his career.

"I have never seen a gem quality diamond of nearly this size," Moses stated.

Historical Significance of Large Diamonds

Large diamonds capture global attention because of their extreme rarity.

The formation process requires specific geological conditions over millions of years.

Type IIa diamonds like Motswedi are especially rare. They form in the deep mantle under intense pressure and temperature.

These conditions create crystals with exceptional clarity and size.

What Happens Next to the Motswedi?

The diamond's future remains unannounced.

Large diamonds typically undergo careful planning before cutting or sale.

The Cullinan diamond was eventually cut into multiple smaller gems, including several crown jewels.

Will Motswedi follow a similar path? The decision rests with Lucara Diamond Corporation.

Impact on Diamond Industry

This discovery reinforces Botswana's position as a major diamond producer.

The country produces about 20% of the world's diamonds by value.

Karowe mine's success story continues with this record-breaking find.

Large diamond discoveries generate significant economic impact for mining communities and nations.

Scientific Value of the Discovery

Beyond commercial value, the Motswedi offers scientific insights.

Its size and quality provide researchers with opportunities to study diamond formation.

The type IIa classification means it formed under specific conditions deep in Earth's mantle.

Studying such diamonds helps scientists understand our planet's geological history.

The Motswedi diamond, weighing 2,488.32 carats, is the second largest diamond ever discovered. Found at Botswana's Karowe mine in August 2024, this type IIa diamond was examined by GIA experts in July 2025. The gem-quality crystal contains multiple large blocks with minimal inclusions and formed deep within Earth's crust.