Mozambican rubies sold for $50 Million in Singapore

Mozambican rubies sold for $50 Million in Singapore

Maputo, June 19, 2019 (Lusa) - A Mozambican ruby auction in Singapore has earned Montepuez Ruby Mining (MRM) $50 million (€44.5 million), Gemfields announced today.

"84 of the 90 lots were sold (93%)" at the "average price of $51.99 (€46) per carat," the statement said.

Gemfields owns a ruby and emerald mine in Cabo Delgado, northern Mozambique.

The ruby auction took place from June 11 to 15, involving 48 companies.

Gemfields has held twelve MRM ruby auctions since July 2014, which have generated $512,6 million (€456 million euros).

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