Grizzly Mining Ltd. continues to cement its place among the world’s leading emerald producers, reporting $24.8 million in sales at its most recent auction. The standout attraction? A breathtaking 6,620-carat emerald named “Pilala,” which drew fierce international bidding before being acquired by a longtime client from India.
A glittering success in Dubai
In May, Grizzly Mining Ltd. held its latest international auction of Zambian emeralds, achieving a total sales value of $24.8 million. The event featured 112 lots of medium- to high-grade rough emeralds, with 105 of them selling successfully. Altogether, the auction moved 1.49 million carats of rough emeralds—further proof of the company’s growing influence in the colored gemstone sector.
Held in Dubai, United Arab Emirates, the auction utilized a secure online platform tailored specifically for Grizzly’s sealed-bid format. Though bidding was digital, clients were able to view the lots in person beforehand, ensuring full transparency. A total of 123 clients from across Europe, Asia, and Africa participated in the auction, highlighting the global appetite for high-quality emeralds sourced from Zambia.
The Pilala emerald: rare, radiant, and record-worthy
Stealing the spotlight was a gemstone of remarkable size and quality: the 6,620-carat “Pilala” emerald. Sourced from the Camara pit—one of Grizzly’s earliest mining licenses acquired in 1997—the emerald was described by the company as possessing intense fluorescent color and exceptional transparency.
Grizzly Chairman Abdoulaye Ndiaye noted that the stone drew aggressive and competitive bids before being won by KBK Gem Stones, a Jaipur-based company and one of Grizzly’s most loyal clients. “The Pilala emerald was an extraordinary lot that drew international attention, and we are proud to see it placed in the hands of a respected long-term buyer,” Ndiaye said.
The sale of such a significant stone underscores Grizzly’s ability not only to extract exceptional gems but also to attract a global clientele for their most coveted material. In an industry where both provenance and rarity matter, a gemstone like Pilala becomes more than a sale—it becomes part of the company’s legacy.
Building a reputation through consistency and quality
Grizzly Mining has been steadily building its presence since its founding in 1997. Based in Zambia, the company now produces roughly 60 million carats of emeralds annually. It holds both in-country and international auctions each quarter, giving clients reliable access to premium rough material throughout the year.
“Our medium- and high-grade stones remain in high demand,” Ndiaye commented. “Hosting these auctions regularly ensures we can continue to meet the market’s growing appetite for exceptional colored gemstones.”
The company’s auction model—blending digital tools with physical viewings—has proven highly effective. Not only does it open the door to a broader pool of buyers, but it also ensures security and confidentiality for high-value transactions. The result is a dynamic, competitive, and trusted marketplace for some of the world’s finest emeralds.
The global rise of Zambian emeralds
The success of Grizzly Mining’s May auction is also a reflection of the broader rise of Zambian emeralds in the global market. Long overshadowed by Colombian stones, Zambian emeralds have gained significant prestige in recent years, thanks to their rich color, high clarity, and responsible sourcing practices.
Grizzly has played a central role in elevating the profile of Zambian emeralds through both scale and quality. By maintaining high production standards and showcasing their gems through well-organized international sales events, the company has contributed to changing industry perceptions about the origin and value of African-sourced emeralds.
With the success of the Pilala emerald and the strength of its auction results, Grizzly continues to shape the narrative that Zambia is not just a player—but a powerhouse—in the colored gemstone arena.
Looking ahead
As demand for ethically sourced, high-quality gemstones continues to grow worldwide, Grizzly is well positioned to meet both the volume and quality expectations of the market. The company’s emphasis on consistent production, transparent sales, and client engagement has become a model for the modern gemstone industry.
While the sale of the 6,620-carat Pilala emerald is a highlight of the year, it’s also a signal of what’s to come. With quarterly auctions, expanding client bases, and premium material sourced from a proven deposit, Grizzly is set to remain a dominant force in the world of emeralds—one luminous green stone at a time.
