Gemfields Generates $29M of Sales at Singapore Ruby Auction

Finance and Trade
23/06/2015 07:31

Leading gemstone producer Gemfields reported $29.3 million in sales at its latest rough ruby auction which took place last week, with a highlight being the sale of a rare matching pair of rough rubies discovered earlier this year which together weigh 45 carats. The matching pair of rubies was purchased by renowned ruby house, Veerasak Gems of Thailand.
The firm sold 47,451 carats of rubies from its Montepuez mine in Mozambique in which it has a 75% stake. The miner said the average price per carat was $617, slightly lower than the $688 average achieved at an auction of similar quality rubies in December 2014.