Mozambique: Rubies Set Record

Maputo — The London-based company Gemfields has announced that its second auction of Mozambican rubies, held in Singapore from 3 to 8 December, achieved revenues of 43.3 million US dollars, the highest figure ever attained at any Gemfields auction.

A release from Gemfields says that the stones auctioned were “predominantly high quality rough rubies”. They were mined in Montepuez district, in the northern Mozambican province of Cabo Delgado by Montepuez Ruby Mining Ltd., a company that is 75 per cent owned by Gemfields.

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