Gemfields shares are up 7.55 per cent on the London Stock Exchange on Tuesday morning following a $37.8m boost from its latest auction of rough emerald gemstones.
The coloured stone specialists sold all 32 lots at an average price of $50.65 per carat, an all-time record for gems from its Kagem mine in Zambia.
This includes the sale of its massive 7,525 carat Chipembele stone.
Gemfields has rebounded strongly from the pandemic with a company best calendar-year auction revenues for Kagem of $92.3 million
Since 2009, all 39 auctions of Kagem gemstones have generated $749.7 million in total revenues for the company.
The Kagem mine is 75 per cent owned by Gemfields, while the remaining 25 per cent stake is held by the Zambian government through a partnership with the company.