19th Oct 2026 07:58
Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - Generates USD52.0 million at an auction of rough rubies held this month, slightly down from USD53.0 million at the sale in February. Only two auctions have taken place this year. Rubies are extracted from Mozambique-based Montepuez Ruby Mining Ltda, in which Gemfields owns 75%. "The results achieved at this auction reflect robust demand across the range of sizes and qualities offered, with particularly strong prices for larger, fine-quality rubies," says Adrian Banks, Gemfields' managing director of product & sales. This underscores the premium customers place on these "exceptionally rare and precious rubies", Banks adds.
Stock price in Johannesburg: 75 rand cents
12-month change: down 46%
Stock price in London: 3.25 pence
12-month change: down 44%
By Artwell Dlamini, Alliance News senior reporter South Africa
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