Gemfields Group Limited has announced the successful conclusion of a mini auction of Mozambican rough rubies mined by Montepuez Ruby Mining (MRM), held in Bangkok from 21–25 April 2025. The auction generated total revenues of USD 7.2 million Out of 21 lots offered, 20 were sold, representing 72.8% of the 250,004 carats on offer. The average sales price achieved was USD 39.47 per carat. The auction included both primary rubies and secondary material, with over 90% of the latter weighing under 1 carat.

Adrian Banks, Managing Director of Product & Sales at Gemfields, described the auction as a "hybrid offering" and noted the strong demand despite global market uncertainties. "This auction provides a timely affirmation of the strength of the ruby market," Banks said, thanking participants, the Government of Mozambique, and Mwiriti, Gemfields’ local partner.

One lot remained unsold — a 13.6kg parcel of lower-quality material expected to yield small, mixed-colour sapphires after cutting.

The rubies were extracted by MRM, which is 75% owned by Gemfields and 25% by Mwiriti Limitada. Proceeds from the auction will be fully repatriated to Mozambique, with all applicable royalties paid to the Government of the Republic of Mozambique.

Gemfields, incorporated in Guernsey, is a leading miner and marketer of coloured gemstones.