Miner Gemfields got in its latest sales of rubies from the Montepuez mine, in Mozambique, a total of $30.4 million.
During the auction, the firm sold 1.09 million carat of rubies over 1 .37 million ct offered, at $27.29/ct average. The company said the sales proceeds will be sent to its Montepuez Ruby Mining subsidiary in Mozambique, and will be used to pay royalties it owes the government.
The firm generated in the previous auction, in June 2016, $44.3 million.
Gemfiels plc is one a world Major coloured gem producer. Besides Montepuez of which it holds 75%, the company also operates at the Kagem mine, Zambia, the world’s largest emerald mine.
Louis-Nino Kansoun
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
Standard Bank granted Paymenow a $22 million loan to expand its early wage access service in Southern Africa. Paymenow helps employees access...
Africa imported a record 3 million tonnes of Thai rice in 2024, a 23.3% increase over 2023. South Africa, Senegal, Côte d’Ivoire, Mozambique, and...
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Brazil’s robusta coffee harvest is set to more than double since 2016/2017, narrowing the gap with Vietnam. Brazil’s robusta thrives due to its...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...