Britain’s Gemfields finds 40-carat ruby in Mozambique

26 November 2014

British gem mining company Gemfields has discovered an “exceptional” ruby ​​with 40 carats (8 grams) in the rough in the Montepuez mine in the province of Cabo Delgado, northern Mozambique, the company said Tuesday in London.

The company, which owns the world’s largest emerald mine in Kagem, Zambia, also announced that this ruby ​​would be sold at auction in Singapore in December, the second time this year that Gemfields will take its rubies to auction.

“This gem will set a new benchmark for the quality of African rubies and makes Montepuez mine the most significant reserve under development in the world,” the statement said.

According to Gemfields, the area of ​​340 square kilometres of the Montepuez project is the world’s largest ruby concession in private hands and “has proven to be one of the most productive.”

In an auction held at Sotheby’s in Geneva on 12 November an 8.62 carat ruby from London jewellers Laurence Graff was sold for US$8.56 million, which was a new record. (macauhub/MZ)