Gemfields realised $7.2 million from a mini-auction of rough rubies from Mozambique’s Montepuez Ruby Mining ("MRM"), which took place in Bangkok, Thailand last week.
The miner said it recorded an average sales price of $39.47 per carat.
At least 72.8% of the 250,004 carats on offer were sold.
“This auction can be described as a hybrid offering, featuring both primary and secondary rubies. Over 90% of the secondary material was under 0.2 grams (1 carat), presented across 13 lots and spanning a broad range of qualities,” said Gemfields' Managing Director of Product & Sales, Adrian Banks.
“Only one lot remained unsold - a 13.6kg parcel of 'L2' quality, weighing between 0.05 and 0.09 grams (0.25-0.45 carats), expected to yield small, mixed-colour sapphires after cutting and polishing. This parcel, the largest by weight, accounted for 27.2% of the total weight offered.”
He said the auction saw strong attendance and robust demand, providing a timely affirmation of the state of the ruby market against the backdrop of tariff-induced uncertainty in global markets.
Gemfields has a 75% stake in MRM while the remaining 25% is owned by Mwiriti Limitada.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
