Mozambique Ruby Auction Brings Gemfields $23.1 Million
London-based mining company Gemfields earned 23.1 million US dollars from an auction of mixed-quality rough ruby held between 22 and 29 June 2026, according to AllAfrica, citing the Mozambican news agency AIM. The stones were mined in Montepuez district, in the northern province of Cabo Delgado.
Gemfields is a gemstone mining company listed on London’s AIM market and headquartered in the British capital. The company operates the Montepuez Ruby Mining project through a partnership with local firm Mwiriti Limitada. Montepuez has been recognised as one of the world’s most significant ruby deposits since commercial operations began there in the early part of the last decade, producing both gem-grade and commercial-grade corundum.
The June sale offered mixed-quality lots rather than stones of a single grade, a format the company uses regularly to market rough material to international buyers. Several such auctions are held each year in various locations, with the stones destined for cutters and polishers in major global centres including Thailand, India and Sri Lanka. The result is closely watched by industry observers as a barometer of demand for rough coloured gemstones.
Mining is one of the pillars of Mozambique’s economy, alongside agriculture, hydrocarbons and the country’s long Indian Ocean coastline. Cabo Delgado, the country’s most northerly province, is known both for its gemstone wealth and for its offshore natural gas reserves, which are being developed by international energy companies. The ruby sector has historically faced competition from informal and illegal mining activity operating outside the formal concessions.
Beyond Mozambique, Gemfields also operates emerald mining interests in Zambia and positions itself as one of the leading producers of responsibly sourced coloured gemstones, with its regular auction calendar serving as a key reference point for the international trade in rough rubies and emeralds.
Sources
This report was written from coverage published by the following news organisations. Follow the links for the original reporting.
