Gemstone miner Gemfields' latest ruby auction generated revenues of $80.4-million, with an average price of $265.99/ct realised.
"With the revenue from this auction up 20% since our last ruby auction in December, today's results echo the significant rebound in market prices we reported just weeks ago for Zambian emeralds.
"The ruby market is clearly firing on all 12 cylinders and the step-change in market pricing which we reported in 2022 is notably enhanced," says Gemfields product and sales MD Adrian Banks.
The rubies were extracted by Gemfields' 75%-owned subsidiary Montepuez Ruby Mining, in Mozambique.