28-6-2018
Gemfields fetched record revenue of US$ 71.8 million at its June auction in Singapore from 5-9 June. 629,893 carats rubies were offered and 93 percent were sold at US$122 per carat amid a strong demand for Gemfields’ Mozambican ruby.
The rough rubies of high, medium and commercial grades were mined by Montepuez Ruby Mining Limitada (MRM), where Gemfields has a 75 percent stake. 51 companies placed bids and 588,656 carats were sold at the auction.
The auction was the company’s 10th ruby sale since 2014. Over 80 percent rubies sold by weight at the last two ruby auctions and yielded over US$100 million in June and November last year.
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