Gemfields Group has announced the successful conclusion of a mini auction of Mozambican rough rubies mined by Montepuez Ruby Mining (MRM), held in Bangkok from 21–25 April 2025. The auction generated total revenues of US$7.2 million
Out of 21 lots offered, 20 were sold, representing 72.8% of the 250,004 carats on offer. The average sales price achieved was US$39.47 per carat. The auction included both primary rubies and secondary material, with over 90% of the latter weighing under 1 carat.
Adrian Banks, Managing Director of Product & Sales at Gemfields, described the auction as a “hybrid offering” and noted the strong demand despite global market uncertainties. “This auction provides a timely affirmation of the strength of the ruby market,” Banks said, thanking participants, the Government of Mozambique, and Mwiriti, Gemfields’ local partner.
One lot remained unsold, a 13.6kg parcel of lower-quality material expected to yield small, mixed-colour sapphires after cutting.
The rubies were extracted by MRM, which is 75% owned by Gemfields and 25% by Mwiriti Limitada. Proceeds from the auction will be fully repatriated to Mozambique, with all applicable royalties paid to the Government of the Republic of Mozambique.
Gemfields, incorporated in Guernsey, is a leading miner and marketer of coloured gemstones. The company also owns 75% of Zambia’s Kagem emerald mine and full ownership of Fabergé, the prestigious heritage jewellery brand.
