20th Jun 2016 06:56
LONDON (Alliance News) - Gemfields PLC on Monday said it has made USD44.3 million from the auction of rubies from the Montepuez deposit in Mozambique that was held in Singapore.
Gemfields said 1.5 million carats of the 1.6 million offered were sold at the auction, held between June 13 and June 19 in Singapore.
The group saw an average realised price of USD29.21 per carat, meaning total revenue from the auction was USD44.3 million.
From the six auctions of Montepuez rubies that have been held since June 2014, the Gemfields said it has generated total revenue of USD195.1 million.
"We are pleased with the results of Gemfields' sixth Montepuez ruby auction. The prices achieved and the high percentage of goods sold fully support our analysis of the market conditions, the quality of Mozambique's rubies and the increasing levels of demand across various markets and categories," said Gemfields Chief Executive Ian Harebottle.
By Sam Unsted; [email protected]; @SamUAtAlliance
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