Montepuez ruby mine expansion, Mozambique – update
Photo by Gemfields
Name of the Project
Montepuez ruby mine expansion.
Location
Mozambique.
Project Owner/s
Montepuez Ruby Mining Limitada (MRM), in which Gemfields owns a 75% interest.
Project Description
The project entails the construction of an additional processing plant at Montepuez.
The addition of the second plant will triple MRM’s processing capacity from 200 t/h to 600 t/h, enabling the company to process its sizeable stockpile, bring to market additional size and colour variations of rubies, and assess and expand into additional mining areas.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The new processing plant will be funded by cash resources and debt.
Planned Start/End Date
The plant is expected to come into operation during the first half of 2025.
Latest Developments
Gemfields has reported that construction of MRM's second processing plant remains materially on budget and on track for completion by the end of the first half of 2025. This is despite disruptions in Mozambique from October 2024 to mid-January this year, as a result of civil unrest following the contested Presidential election.
Key Contracts and Suppliers
Not stated.
Contact Details for Project Information
Gemfields, tel +44 1481 731554 or email ir@gemfields.com
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