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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

     

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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

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