By John Chola | Kitwe, Zambia

The latest auction of emeralds by Pridegems Limited, a subsidiary of Grizzly Group of Companies, opened on Monday, November 10, in Kitwe, attracting strong participation from both physical and online bidders across the globe and further signalling sustained investor confidence in Zambia’s gemstone industry.

The five-day auction, which runs under the close supervision of government officials from the Ministry of Mines and Minerals Development, the Zambia Revenue Authority (ZRA), and customs, underscores the government’s commitment to transparency and accountability in the precious stone trade.

Among the standout lots is a single emerald weighing an impressive 5.5 kilograms, one of the largest stones ever presented at a Zambian auction.

Final results and details of successful bidders are expected to be announced by the end of the week.

“The turnout from international buyers has been encouraging,” said Grizzly Group General Manager and Company Secretary, Carolyn Sampa. “The online participation has particularly grown, reflecting the global appetite for Zambian emeralds renowned for their deep green hue and clarity.”

Grizzly Mining’s Growth and Diversification Drive

The auction coincides with Grizzly Mining Limited’s broader diversification strategy and an anticipated 30 percent increase in emerald production over the next year, according to Pridegems General Manager, Barbara Shilengwe Kafwilo.

Mrs. Sampa said the company’s growth plans align with the national agenda to enhance mineral output and value addition.

“Our projection is that emerald production will increase by 30 percent from last year’s figures,” Mrs. Sampa said. “This growth will expand our revenue base, create more employment for Zambians, and increase our contribution to the national treasury.”

Founded in 1997, Grizzly Mining has grown from a small artisanal outfit into one of the world’s leading emerald producers, operating across an 800-hectare mining concession in Lufwanyama District.

Its gemstones are exported to Asia, Europe, and the Middle East, where Zambian emeralds are celebrated for their rarity and brilliance.