MRM Commercial-Quality Auction Results
Date27 Sep 2022
Gemfields is pleased to announce the results of an auction of predominantly commercial-quality sapphire, corundum and low-quality ruby held from 19 September 2022 to 23 September 2022. The gemstones were extracted by Montepuez Ruby Mining Limitada in Mozambique (“MRM”, which is 75% owned by Gemfields and 25% by Mwiriti Limitada). The proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the Republic of Mozambique being paid on the full sales prices achieved at the auction.