Singapore Ruby Auction Results
Date18 Dec 2018
Gemfields is pleased to announce the results of an auction of rough rubies in Singapore from 10 – 14 December 2018. The rough rubies were extracted from the licence held and operated by Montepuez Ruby Mining Limitada (“MRM”), which is 75% owned by Gemfields and 25% by local partner Mwiriti Limitada.
Highlights – Ruby Auction
- Auction revenues of USD 55.3 million;
- Of the 90 lots offered, 88 were sold (98%);
- Average price of USD 84.32 per carat;
- 655,623 carats sold out of the 685,363 carats offered (96%); and
- The eleven Gemfields auctions of MRM rubies held since June 2014 have generated USD 462.6 million in aggregate revenues.