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Gemfields first ruby auction generates $33.5 mln
June 18, 2014 / 6:31 AM / in 3 years

Gemfields first ruby auction generates $33.5 mln

June 18 (Reuters) - Precious stones miner Gemfields Plc said its inaugural ruby and corundum auction held in Singapore generated revenue of $33.5 million.

Gemfields, which mines rubies from its Montepuez deposit in Mozambique, said the average realised price was $18.43 per carat for the auction held during June 12-17.

Aggregate consolidated revenue from rough gemstone sales for the year ending June 30 now exceeded $143 million, the company said. The London-listed miner produces about a fifth of the world’s rough emeralds. (Reporting by Karen Rebelo in Bangalore; Editing by Gopakumar Warrier)

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