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Gemfields Group Ltd - London-headquartered gemstones supplier - Generates $66.8 million in revenue following a ruby auction held in Bangkok from November 21 to Thursday. The rough rubies sold were extracted from the mining licence held and operated by Montepuez Ruby Mining Ltda, which
is 75% owned by Gemfields and 25% by Mozambican partner Mwiriti Ltda. Says the 2022 auction revenue set a new annual record of $166.7 million, beating the prior record of $147.4 million last year.
Gemfields Managing Director of product & sales Adrian Banks says: ‘Our final auction for 2022 has yielded another strong result for Mozambique rubies, topping off a truly glittering year for Gemfields.’ He says when combined with the Kagem emerald mine’s auction revenues for 2022 of $149.4 million, Gemfields’ total auction revenues for 2022 stand at $316 million, an improvement of 32% from $239.6 million last year, a record at that time.
Current stock price in London: 19.23 pence, up 2.5% on Friday morning
12-month change: up 35%
Current stock price in Johannesburg: R 3.85, up 1.3% on Friday.
12-month change: up 28%
By Artwell Dlamini, Alliance News reporter
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