Pallinghurst Resources Limited, owner of Gemfields, announced results for its ninth auction of rough ruby from the Montepuez mine in Mozambique, which ran from November 6 to 10. According to Gem Konnect, the auction raked in $54.96 million.
This is “the highest figure attained at any Gemfields auction to date”, according to the miner. The auction achieved an average price of $90.81 per carat. 71 out of 76 lots on offer were sold – a total of 605,229 carats. The nine Montepuez auctions held since June 2014 have generated $335 million in aggregate revenues.
Company CEO Sean Gilbertson commented: “The strong revenues from this auction provide a solid boost to the Gemfields cash position and underscore the fact that market demand for responsibly sourced rubies from Mozambique remains in fine fettle”.
