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Gemfields’ June Auction to Include 36-Carat Ruby
The large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.
Gemfields’ mixed-quality ruby auction scheduled to take place later this month will feature an expanded offering of material.
London—Gemfields announced that its June mixed-quality ruby auction will feature secondary-type rubies from a new area of its mine, including a 36-carat ruby.
Recovered from within its mining concession in the Montepuez district of Mozambique’s Cabo Delgado province, these rubies have not yet been offered at auction in “meaningful quantities,” Gemfields said.
They have a slightly lighter tone and stronger fluorescence, due to lower iron content, compared with the secondary-type rubies previously offered at auction, Gemfields said.
“It is exciting to see the evolving variety of rubies being recovered by Montepuez Ruby Mining (MRM). I am particularly eager to see how a single fine-quality ruby weighing 36 carats will perform at our auction,” said Adrian Banks, Gemfields’ managing director of product and sales.
“I believe this ruby will be strongly contested by discerning clients who recognize the rarity and significance of such a gemstone, given both its size and quality.”
Related stories will be right here …
Recovered from within its mining concession in the Montepuez district of Mozambique’s Cabo Delgado province, these rubies have not yet been offered at auction in “meaningful quantities,” Gemfields said.
They have a slightly lighter tone and stronger fluorescence, due to lower iron content, compared with the secondary-type rubies previously offered at auction, Gemfields said.
“It is exciting to see the evolving variety of rubies being recovered by Montepuez Ruby Mining (MRM). I am particularly eager to see how a single fine-quality ruby weighing 36 carats will perform at our auction,” said Adrian Banks, Gemfields’ managing director of product and sales.
“I believe this ruby will be strongly contested by discerning clients who recognize the rarity and significance of such a gemstone, given both its size and quality.”
MRM is operated and 75 percent owned by Gemfields, with the remaining 25 percent owned by Mwiriti Limitada, a Mozambican company.
The miner is working on a new 400 ton-per-hour ore processing plant at MRM that it says will triple the operation’s through-put capacity.
Gemfields said the increased capacity from the new development is crucial to maintaining its ability to provide a steady supply of rubies to meet market demand.
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