Gemstone miner Gemfields' latest series of mini-auctions for rubies mined at the Montepuez mine, in Mozambique, has generated a record $88.4-million in revenue.
Of the 107 lots on offer during the seven mini-auctions, held between November 8 and December 9, 104 were sold. The average price achieved was $132.47/ct.
"This has been the strongest ruby auction in Gemfields' history and we're very pleased with the trajectory and growth of the downstream ruby sector. Professionalised and dependable supply has always been the key to unlocking growth.
"The strength of the results we've seen this week for both emeralds and rubies means that Gemfields has achieved a new record for yearly gemstone auction revenues of $239-million, a very pleasing result for 2021," comments Gemfields product and sales MD Adrian Banks.