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

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com

Huge quantifiable rise in geopolitical, economic and trade risks

June 23, 2025 / www.canadianminingreport.com

Platinum clearly ahead of palladium for first time in seven years

June 16, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok