First trial sale of emeralds from URA's Gravelotte mine delayed
London-listed URA Holdings, which operates the Gravelotte emerald mine, in Limpopo, South Africa, has had to postpone the first trial sale of gemstones in Thailand, owing to the delay in clearance of one of two parcels to be offered for sale.
In preparation for the first trial sale, URA exported about 45 000 ct of emeralds from South Africa to Bangkok in two batches, or parcels.
Once the second batch is cleared, both parcels will be stored at Bonas Group's facilities in Bangkok. URA will continue to export emeralds to Bangkok, with all carats to be offered for sale during Bonas' next independent emerald auction.
"Despite the delay in the trial sale, we are continuing to produce material from the Gravelotte mine and building our stockpile of material in preparation for our first sale at a later date.
"We are making good progress with work at the Curlew mine in preparation for the commencement of phased production and will update the market shortly on our progress," says URA chairperson Ed Nealon.
URA owns 74% of the Gravelotte mine and, in June, acquired a 65% interest in the Curlew emerald mine, in Western Australia.
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