June 21, 2023

Ruby Auction Results

Gemfields is pleased to announce the results of a ruby auction comprised of mixed-quality rough rubies held during the period 5 – 20 June 2023. Highlights: June 2023 Mixed-Quality Ruby Auction Total auction revenues of USD 80.4 million 91 of the 94 lots offered for sale were sold (97%) Average realised price of USD 265.99 per carat The 19 auctions of Montepuez Ruby Mining Limitada’s (“MRM”) gemstones held since June 2014 have generated USD 978.5 million in total revenue One lot of 26.8kg (representing some 30% of the total weight offered) remained unsold. As a result, the average price per carat realised at this auction was considerably higher than it would have been had this lot also been sold.