By John Chola

Grizzly Mining Limited says its first 2026 emerald auction, which opened on Monday, April 27, in Kitwe, is progressing well, with a strong influx of international buyers already driving business activity across the Copperbelt.

Buyers from key global trading centres, including Jaipur, London and New York, have converged on the week-long auction, boosting hotel occupancy, transport bookings and demand for hospitality services.

The decision to host the auction locally rather than in overseas trading hubs has also continued to generate increased immigration fees, logistics business and tax revenue linked to emerald sales.

Grizzly Mining Limited Group Chairman Abdul Ba says the “auction-at-home” model continues helping Zambia retain more value from its gemstone trade by ensuring spending circulates within the domestic economy instead of foreign markets such as Dubai and London.

The auction closes on Friday, with analysts closely watching both final sales figures and the wider economic impact on local businesses.