IN BRIEF: Gemfields records record revenues after ruby auction

(Alliance News) - Gemfields Group Ltd - London-headquartered gemstones supplier - Reports record revenues following ruby auction held between November 8 and December 9. The company recorded total auction revenues of USD88.4 million, an all-time high for Montepuez Ruby Mining Ltd ruby auctions. The average price was USD132.47 per carat. A ruby is a pinkish red to blood-red colored gemstone.

Gemfields said its annual gemstone auction revenues reached an all-time high of USD239.6 million - across emeralds and rubies - beating a record of USD200.6 million hit in 2019.

Current London stock price: 14.90 pence, up 4.6% Friday morning

Year-to-date change: up from 6.75p

Current Johannesburg stock price: ZAR3.00

Year-to-date change: up from ZAR1.35

By Artwell Dlamini; artwelldlamini@alliancenews.com

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Gemfields Grou.