(Ecofin Agency) - 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