Gemfields Reports Strong Demand at Auction of Rough Rubies and Corundum

Finance and Trade
22/12/2015 09:15

Gemstone miner Gemfields reported revenues of $28.8 million at its fifth auction of rough rubies and corundum from the Montepuez mine in Mozambique at an average price of $317.92 per carat. The Singapore sale, held December 14 to 18, saw 36 companies placing bids with 45 of the 49 lots offered being sold, The five auctions of Montepuez goods held since June 2014 have generated $150.8 million in aggregate revenues. The miner's next auction will be of predominantly higher quality emerald from the Kagem mine in Zambia and is due to take place next March.