Modern Mining September 2024

MINING NEWS

Grizzly Emerald auction generates $32.5 million

Grizzly Mining, one of the world’s largest producers of emeralds, announced the results of its latest international emerald auction held in Dubai in July 2024. The auction saw the company offer its latest mid-to high-grade rough emeralds from its flagship Grizzly emerald mine in Zambia. Abdoulaye Ndiaye, Grizzly Chairman, commented: “I am delighted to see such robust bidding for our stones, and particularly for the 835 carats deep green, medium dark emerald, Bid 137, which saw stiff competition at the final auction. Ultimately, the winning bid went to Gemstar LTD., owned by Avraham Eshed, a long-term partner and client for over 20 years.” The auction generated strong revenue of $32.5 million and there were 96 clients in attendance from Europe, Asia and Africa. One hundred and forty two lots were offered for sale, of which 134 lots (94.36%) were sold, a total of 1.3 million carats. 

An image of the 835 ct Emerald won by Gemstar LTD.

Masoyise annual report published The Minerals Council has announced the publication of the 2023 Masoyise Health Programme annual report which, thanks to multi-stakeholder efforts, shows continuing improvements in employee health. Masoyise was launched in 2016 as a unique multi stakeholder programme to tackle the incidence of tuberculosis, HIV and occupational lung diseases in the industry. More recently, non-communicable diseases and, in 2023, mental health, have been added to the Masoyise focus. With Masoyise’s initial goal of reducing the industry’s TB incidence rate to below that of South Africa’s as a whole having been achieved some years ago, the incidence rate has fallen further in the year under review to 223 per 100 000 population in 2023, from 236 per 100 000 population in 2022. 

Masoyise annual report shows continuing improvements in employee health.

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4  MODERN MINING  www.modernminingmagazine.co.za | SEPTEMBER 2024