https://newsletter.mw.creamermedia.com
Gemfields|Rubies
Gemfields|Rubies
gemfields|rubies

Gemfields achieves record yearly revenue from ruby, emerald auctions

9th December 2022

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

UK-headquartered Gemfields has generated $66.8-million in revenue from 98 lots of rough rubies sold on auction between November 21 and December 8.

The auction lots were made available for in-person and private viewings by customers in Bangkok, following which the auction took place through an online platform.

The rough rubies sold were extracted from Gemfields’ 74%-owned Montepuez ruby mine, in Mozambique.

Gemfields achieved an average price of $154.84/ct during the auction.

The auctions for the year, including for rubies from the Montepuez mine and emeralds from the Kagem mine, in Zambia, have generated a record of $316-million in revenue for this year, which is a 32% increase on the revenues generated from auctions in 2021.

With the ruby auction bringing in $66.8-million, Montepuez’s total auction revenue for 2022 stands at $166.7-million, which is a 13% improvement on last year’s record despite the challenging conflict conditions in the country’s Cabo Delgado province.

Gemfields product and sales MD Adrian Banks says the final auction for this year has yielded another strong result for Mozambican rubies, topping off a “truly glittering” year for Gemfields.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 March 2025
Magazine round up | 21 March 2025
21st March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.048 1.876s - 144pq - 2rq
Subscribe Now