SourcingNov 27, 2024
Gemfields Reports 'Disappointing' High-Quality Emerald Auction ResultsSourcingDec 12, 2024
Grizzly Emerald Auction Garners $22.4M
Recent expansion initiatives at the Zambian emerald mine have shown strong production numbers, said Grizzly founder Abdoulaye Ndiaye.
Grizzly Mining’s November mid- to high-grade emerald auction brought in $22.4 million.
Lusaka, Zambia— Grizzly Mining Ltd. announced that its latest international emerald auction garnered $22.4 million.
The emeralds offered were extracted from the company’s flagship Grizzly emerald mine in Zambia’s Lufwanyama region.
The sale featured mid- to high-grade rough emeralds in 164 lots.
Of those, 157 lots totaling 1.93 million carats were sold.
The miner’s July sale brought in $32.5 million, selling 134 of the 142 lots offered. It included the sale of an 835-carat emerald to Israel-based manufacturer Gemstar Ltd.; the final price was not provided.
The company noted that each specific auction mix and the quality of the lots offered vary in characteristics such as size, color, and clarity due to variations in mine production and market demand.
“This has been another positive quarter for Grizzly. Our recent expansion initiatives at our world class Grizzly emerald mine in Zambia has shown strong production numbers allowing us to hold another medium to high-grade auction in November,” said Abdoulaye Ndiaye, founder and chairman of Grizzly.
The November auction took place in Dubai, United Arab Emirates, via an online platform specifically adapted for Grizzly, allowing customers to participate in a secure, confidential sealed-bid process. The lots were made available for in-person viewings in Dubai prior to the sale.
A total of 87 clients from Europe, Asia, and Africa attended the auction.
Grizzly Mining was founded in 1997. The Zambian mine produces around 60 million carats a year, with quarterly auctions in-country and internationally.
Related stories will be right here …
The emeralds offered were extracted from the company’s flagship Grizzly emerald mine in Zambia’s Lufwanyama region.
The sale featured mid- to high-grade rough emeralds in 164 lots.
Of those, 157 lots totaling 1.93 million carats were sold.
The miner’s July sale brought in $32.5 million, selling 134 of the 142 lots offered. It included the sale of an 835-carat emerald to Israel-based manufacturer Gemstar Ltd.; the final price was not provided.
The company noted that each specific auction mix and the quality of the lots offered vary in characteristics such as size, color, and clarity due to variations in mine production and market demand.
“This has been another positive quarter for Grizzly. Our recent expansion initiatives at our world class Grizzly emerald mine in Zambia has shown strong production numbers allowing us to hold another medium to high-grade auction in November,” said Abdoulaye Ndiaye, founder and chairman of Grizzly.
The November auction took place in Dubai, United Arab Emirates, via an online platform specifically adapted for Grizzly, allowing customers to participate in a secure, confidential sealed-bid process. The lots were made available for in-person viewings in Dubai prior to the sale.
A total of 87 clients from Europe, Asia, and Africa attended the auction.
Grizzly Mining was founded in 1997. The Zambian mine produces around 60 million carats a year, with quarterly auctions in-country and internationally.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
FinancialsJul 16, 2026
Richemont’s Jewelry Sales Soar for the Seventh Quarter in a RowJewelry sales for the company, which owns Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, rose 21 percent in the first quarter.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 16, 2026
Jewelers of Louisiana to Host 80th ConventionThe event, scheduled for next month in New Orleans, will include dinner, a custom jewelry design contest, and education sessions.
Weekly QuizJul 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
FinancialsJul 15, 2026
Watches of Switzerland’s US Sales Jump 18%, Declines to Comment on Sale Report The watch and jewelry retailer had a strong fiscal year despite what its CEO described as a “complex operating backdrop.”
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
