Gemfields has pocketed $33.5 million from the inaugural auction of rough ruby and corundum mined at its 75 percent-owned Montepuez deposit, in Mozambique.
It said in a statement that this helped drive its overall revenue for rough gemstone sales beyond $143-million for the current financial year.
The auction, which took place in Singapore included both high- and low-quality ruby and corundum gemstones.
Gemfields said it sold 1.82-million carats of the 2.03-million carats that were on offer.
An average price of $18.43 per carat was realised.
“Since completing the acquisition of Montepuez – our first ruby deposit – in 2012, we have swiftly brought this greenfield asset into the operational and revenue-generating phases, producing over eight-million carats and simultaneously developing a first-of-a-kind, proprietary ruby grading system,” said Gemfields chief executive Ian Harebottle.
“The extension of our transparent and well-regarded auction platform into the ruby trade has been very well received by the market, with an expanded customer base now having access to reliably supplied and consistently graded rough emeralds, beryl, rubies and corundum.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
