Coloured gemstone producer Gemfields announced that its auction in Singapore of rough rubies from its Montepuez mine in Mozambique, which ran from June 11 to 15, realised revenues of $50 million. Of the 978,197 carats offered, 962,211 carats sold, achieving an average price of $51.99 per carat.
The company said that one lot set a new all-time price-per-carat record for any Gemfields auction. The 12 auctions of rubies from its Montepuez mine since June 2014 have generated an aggregate $512.6 million.
Gemfields Managing Director of Product & Sales Adrian Banks commented, “Large, premium quality gems remain very hard to come by and, as is demonstrated by the new price-per-carat record set for any Gemfields auction, such gems command corresponding prices.