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GEMFIELDS RAKES IN $50 MILLION AT RUBIES AUCTION IN SINGAPORE

Gemfields made a total of $512.6 million in the 12 auctions it held since June 2014

Gemfields, which owns the Montepuez mine in Mozambique, has raked in revenues of $50 million in its latest auction in Singapore, which ran from June 11 to 15.

 

Gemfields Ruby Auction Singapore
Credit: Gemfields

 

Gemfields offered 978,197 carats and sold 962,211 carats, achieving an average price of $51.99 per carat, with one lot selling for “a new all-time price-per-carat record for any Gemfields auction”, according to the report. Gemfields made a total of $512.6 million in the 12 auctions of rubies from its Montepuez mine since June 2014.

 

Ruby Mozambique gems
Credit: Perfectgemstore / shutterstock.com

 

Gemfields Managing Director of Product & Sales Adrian Banks commented: “Large, premium quality gems remain very hard to come by and, as is demonstrated by the new price-per-carat record set for any Gemfields auction, such gems command corresponding prices”.



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