https://newsletter.mw.creamermedia.com
Cutting|Gemfields|Mining|Gemstones|Products
Cutting|Gemfields|Mining|Gemstones|Products
cutting|gemfields|mining|gemstones|products

Gemfields notes robust demand for commercial-quality sapphire, ruby during its latest auction

5th September 2024

By: Creamer Media Reporter

     

Font size: - +

Johannesburg- and London-listed gemstone miner Gemfields received revenue of $2.3-million from the auction of predominantly commercial-quality sapphire, corundum and commercial-quality ruby from September 2 to 4.

All 5.7-million carats offered in ten lots were sold, realising an average price of $0.41/ct.

The gemstones were extracted by Montepuez Ruby Mining (MRM), in Mozambique.

"The majority of the auction's offering consisted of corundum and sapphire, which are considered by-products of MRM. Despite the commercial nature of these goods, the auction saw strong attendance and robust demand.

"The significant volume of the lower-priced rough sold, will support the factories in the cutting centres of Chanthaburi, Thailand and Jaipur, India," Gemfields products and sales MD Adrian Banks comments.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest Multimedia

Latest News

Magazine round up | 18 April 2025
Magazine round up | 18 April 2025
18th April 2025

Showroom

BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hillside Aluminium smelter in South Africa’s KwaZulu-Natal.
Hillside Aluminium guiding unchanged output for 2025 financial year
17th April 2025 By: Martin Creamer
Andrada CEO Anthony Viljoen.
Andrada looking to opening more mines in Namibia
16th April 2025 By: Martin Creamer
Resources Watch
Resources Watch
16th April 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:0.2 0.28s - 180pq - 2rq
Subscribe Now