Rare rubies discovered in northern Mozambique

10 June 2015

Montepuez Ruby Mining discovered two “exceptionally rare” rubies with a combined weight of 45 carats at its concession in Cabo Delgado province in northern Mozambique, the company said in a statement sent to Macauhub in Maputo.

Similar in “size, colour and quality,” the two jewels will be auctioned in Singapore, between 16 and 21 June, by British multinational Gemfields, which owns 75 percent of Montepuez Ruby Mining.

Described by the Chief Executive of Gemfields Ian Harebottle, as an “extremely rare” event, the discovery of the two gems is followed by another which took place late last year when a 40-carat ruby was found at the concession, which covers more than 330 square kilometres explored by the consortium in Mozambique.

At the first auction of Mozambican rubies, in July 2014, Gemfields, which bills itself as the world’s largest distributor of these gems and owns luxury jewellery brand Fabergé, raised US$33.5 million.

The British multinational entered the Mozambican market in June 2011 when it acquired a 75 percent stake in Montepuez Ruby Mining from Mwiriti Limitada, which now has 25 percent of the consortium. (macauhub/MZ)