Australian mining company Mustang Resources announced the discovery of 460 carats of rubies in the Montepuez district of Cabo Delgado Province in northern Mozambique.
This is the first discovery of rubies from the analysis of 2,683 tons of material from the exploration zone of the Alpha deposit.
The ruby deposit was discovered in July of this year and 13,000 tonnes of material has already been collected to be sent to the factory to detect rubies.
The company estimates that each ruby carat will have a value of US$35,900.
Mustang Resources said in a statement that it also intends to explore diamonds in a project in the Save River and a graphite project in Balama, Cabo Delgado. (macauhub)