Gemfields Reports High Interest in Fine-Quality Rubies at Auction

Gemfields generated $53 million at its most recent auction, with fine-quality rubies maintaining strong performance and solid prices.

The miner sold 121 of the 135 lots of mixed-quality rough rubies on offer from its Montepuez mine in Mozambique, it said Monday. The auction took place from February 9 to 20 in Bangkok after it was postponed from December 2025.

“This auction…was well attended and comprised a good selection of rubies covering a wide spectrum of sizes and qualities from our Mozambique ruby mine,” said Adian Banks, managing director of product and sales at Gemfields. 

Gemfields sold 189,620 carats of rubies at an average price of $279 per carat. The newer mining areas delivered more fluorescent material, which sold well, while bidding for certain qualities remained subdued, partly due to competition from the sale of material from illegal mining in the same area and weaker demand from China, it added.

The sale marked the first auction to feature goods from Gemfields’ second Mozambique ruby mine. Its new processing plant is nearing completion, and the company expects to maintain a steady supply of rubies to the market.

Image: Rough rubies. (Gemfields)