Gemfields Sells a Record $95m of Rubies

By John Jeffay / June 23, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Gemfields says it sold rough rubies worth $95.6m at its latest online auction, setting a new company record.The London-based ruby and emerald miner described the results as "glittering", despite failing to sell a single lot that accounted for almost a quarter of the total weight of rubies sold.The rubies were all extracted by Montepuez Ruby Mining (MRM) which is 75% owned by Gemfields and 25% by Mozambican partner Mwiriti Limitada.The price paid per carat was far higher than recent Gemfields sales - at $247 - although the company says specific auction mixes can vary significantly, making direct comparisons difficult.The company said the 16 auctions of MRM rubies it has held since June 2014 have generated total revenues of $827.1m.Pic courtesy Gemfields shows two highlights from the sale.

Recent News

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com

Rise in gold stocks propels TSXV Mining

August 25, 2025 / www.canadianminingreport.com

Market sees gold sector nearing full value overall after target upgrades

August 18, 2025 / www.canadianminingreport.com

Gold stocks gain even as metal pulls back

August 18, 2025 / www.canadianminingreport.com

Gold stocks rocket to new highs, valuations no longer inexpensive

August 11, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok