Maputo, 9 Sep (AIM) – The Montepuez Ruby Mining company (MRM), which operates in the Namanhumbir administrative post, Montepuez district, in the northern Mozambican province of Cabo Delgado, earned in the latest auction 2.3 million dollars from the sale of rubies, sapphires and corundum.
Montepuez Ruby Mining is 75 per cent owned by the UK-based company Gemfields and 25 per cent by its Mozambican partner, Mwiriti Limitada.
According to an MRM statement, the company, in an auction that took place between Monday and Wednesday in Thailand, sold all 5.7 million carats (1,130 kilos), divided into 10 lots, at an average price of 0.41 dollars per carat.
The document points out that the proceeds represent an increase of 800,000 dollars compared to a previous similar operation.
“The proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties owed to the Government of the Republic of Mozambique being paid on the total sales prices achieved in the auction”, said Gemfields director of Products and Sales, Adrian Banks, cited in the document.
The note says that despite the commercial nature of these goods, the auction saw a strong turnout and robust demand.
“The significant volume of raw product sold at lower prices will support the factories at the cutting centers in Chanthaburi, Thailand, and Jaipur, India”, Banks said.
(AIM)
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