At Ruby Auction, Gemfields attains an average price of $318 per ct
Gemfields at the Ruby Auction gets an average price of $318 per carat for the rough rubies. An AIM-listed multinational natural resources company, Gemfields PLC, reported the net income of $28.8 million from the Ruby Auction that includes the selling of high and medium quality rough rubies that are brought from the Montepuez ruby deposit in Mozambique.
A natural resource MNC, Gemfields PLC specified their revenue of $28.8 million from an auction by auctioning the high and medium quality uncut rubies that are brought from the Montepuez ruby deposit situated in Mozambique. As per the statement quoted by the company on 21st of December, they succeeded to achieve an average price of $318 carat by selling 90,642 carat rubies out of 92,136 carats or say 45 out of 49 lots. Further, according to the statement, the company sold the stones that were extracted by subsidiary Montepuez Ruby Mining Limitada 98% by weight and 95% by market value. The auction that held in Singapore on 14th December and continued until 18th December achieved success in attracting some 36 companies to participate in the bid. The keen inclination and keen interest of these 36 companies in the bid clearly indicate the strong demand of the high and medium quality rough rubies in the gemstone and jewelry market. To know the market, Gemfields had put up the larger masses of smaller size and mid-priced gemstones for bid. The response suggested the high demand of the rough gemstone that are desirable for making the into polished rubies with a standard size. The price/CT are broadly consistent as compared to the previous auction. The next auction expected in March 2016 with high-quality Emerald.