IN BRIEF: Gemfields ruby auction robust demand despite tariff woes

Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - Generates revenue of USD7.2 million at an auction of rough rubies held from Monday to Friday last week. Says 20 of the 21 lots on offer were sold, and 73% of the 250,004 carats on offer were sold. Average sales price is USD39.47 per carat. Rubies had been extracted by Gemfields' 75%-held Montepuez Ruby Mining Ltda in Mozambique.

"The auction saw strong attendance and robust demand, providing a timely affirmation of the state of the ruby market against the backdrop of tariff-induced uncertainty in global markets," says Adrian Banks, Gemfields' managing director of product & sales.

Stock price in Johannesburg: ZAR1.10

12-month change: down 59%

Stock price in London: 4.20 pence

12-month change: down 64%

By Artwell Dlamini, Alliance News reporter

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Gemfields Grou.