Date:10/09/2006 URL: http://www.thehindu.com/2006/09/10/stories/2006091002830900.htm

National

Zambia emeralds auctioned in Jaipur

Special Correspondent

About 115 firms specialising in coloured stones took part in the bids

JAIPUR: Rough emerald stones from Zambia were put up for sale at a five-day auction at a five-star hotel here this week. About 115 firms specialising in coloured stones participated in the bids.

The Zambia-based Kagem Mining Company, founded by Jaipur jeweller Shivshankar Gupta in collaboration with the Zambian Government about 20 years ago, brought the raw stones, "kharad" in local parlance, for the auction.

Pink City is known for its coloured stones. Emeralds have the pride of place in the long list of stones which get polished here into exquisite forms.

"This is the first time in India that any outstation entrepreneur has brought the raw material for auction. Till now Jaipur jewellers used to scout Zambia or Columbia for purchase of rough emerald stones," said Rajiv Jain, convener of the Gem and Jewellery Export Promotion Council.

"This is a welcome step which would benefit the gemstone industry immensely."

Shaba George of the Kagem Mining Company told The Hindu on Saturday.

"The response from Jaipur jewellers has been very good. We hope we can do this at regular intervals. The people as well as the authorities have been very cooperative."