Grizzly Mining has closed its latest emerald auction with $24.8 million in total sales, following strong global interest in rough stones from its Zambian deposit.
The sealed-bid sale, held in Dubai this May, featured 112 lots of mid- to high-grade material, with 105 lots successfully sold. In total, 1.5 million carats changed hands.
Among the highlights was the Pilala Stone—a standout 6,620-carat emerald discovered in the Camara pit. Described as having exceptional clarity and vivid fluorescence, the gem attracted significant bidding interest before being acquired by Jaipur-based KBK Gemstones.
The auction saw participation from 123 buyers across Europe, Asia, and Africa, with many drawn to the high-carat, premium-quality parcels Grizzly had on offer.
Grizzly’s Chairman Abdoulaye Ndiaye called the result another strong showing for the company, reinforcing consistent demand for Zambian emeralds. The miner, which was established in 1997, now produces around 60 million carats of emeralds each year and holds quarterly auctions to supply the international colored gemstone market.