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IN BRIEF: Gemfields gets USD11 million from ruby auction in Bangkok
Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - 'Mini-auction' of Mozambican rough rubies from Montepuez Ruby Mining Ltda raises USD11.0 million in revenue. The auction was held in Bangkok on Monday to Friday last week. Gemfields says 62% of the 297,449 carats of rubies on offer were sold at an average price of USD59.43 per carat. MRM is 70% owned by Gemfields and 30% by Mozambican partner Mwiriti Ltda.
"This mini-auction primarily featured medium and commercial grades of secondary material sourced from a recently developed mining area in the 'Maninge Nice' domain and where our processing activities have been concentrated in recent months," explains Adrian Banks, managing director of Product & Sales. "We are encouraged by both the results and the strong customer engagement, reflecting growing interest in this new material."
Current stock price in London: 6.00 pence, down 2.0% on Monday
12-month change: down 49%
Current stock price in Johannesburg: ZAR1.39, down 3.5%
12-month change: down 47%
By Tom Waite, Alliance News editor
Comments and questions to newsroom@alliancenews.com
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Latest GEM News
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1 Jul 2013 - Gemfields estimates full-year auction revenue to fall 46 pct
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Gemfields Grou. News
Emerald miner Gemfields rakes in $31.5 million at Lusaka auction
July 22 (Reuters) - Emerald miner Gemfields Plc said it sold a little over half a million carats of rough stones at its first high-quality emerald auc...
UPDATE 1- Auction delay to hurt Gemfields full-year revenue
July 1 (Reuters) - Gemfields Plc, a Zambia-focused precious stones miner, estimated a 46 percent fall in full-year auction revenue as it delayed its r...
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