Gemfields has realised $69.5 million in revenues from 239,591 carats recovered at Montepuez Ruby Mining (MRM) in Mozambique.
It said the mixed-quality rubies sold at its December auction attracted an average realised price of $290.02 per carat
Gemfields’ total auction revenue for 2023 stands at $242 million, the second highest in the company’s history.
The company has conducted 21 auctions of MRM gemstones since June 2014, generating more than $1 billion in total revenue.
“We’ve seen ruby prices at our auctions go from strength to strength in recent years and our final auction of 2023 has further endorsed that trend,” Gemfields managing director of product and sales Adrian Banks.
“This auction has shown that the demand and pricing for rough rubies is decidedly healthy.”
This auction also takes Gemfields past the milestone of $2 billion in cumulative emerald and ruby auction sales.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
