Gemfields Raises $53m at Ruby Auction as New Plant Scales Up

An update from Gemfields Group ( (PLLHF) ) is now available.

Gemfields has reported results from its latest mixed-quality rough ruby auction, held from 9 to 20 February in Bangkok and online, featuring material from its Montepuez Ruby Mining operation in Mozambique. The sale generated revenue of $53 million, with 121 of 135 lots and 189,620 of 214,509 carats sold, reflecting an 88% sell-through by weight and an average realised price of about $279 per carat.

Management highlighted strong demand and pricing for fine-quality and fluorescent rubies, including stones from newer mining areas, although bidding was softer in some segments amid weaker Chinese demand and increased supply from illegal mining around Montepuez. The auction marked the first to include output from MRM’s second processing plant, which is in final commissioning and expected to eventually triple ore processing capacity without materially increasing costs, underpinning Gemfields’ ability to maintain consistent ruby supply and continued royalty flows to the Mozambican state.

The auction continued to use Gemfields’ sealed-bid online platform combined with private viewings in Bangkok, allowing participation by buyers from multiple jurisdictions. While the average price per carat was lower than several recent auctions, the strong absolute revenue, high lot absorption and integration of new processing capacity support Gemfields’ strategic positioning as a leading, scalable supplier in the global coloured gemstone market.

More about Gemfields Group

Gemfields Group is a Guernsey-incorporated, dual-listed miner of coloured gemstones, trading on the Johannesburg Stock Exchange and London’s AIM market. The company owns and operates major emerald and ruby assets, including Kagem Mining in Zambia and Montepuez Ruby Mining in Mozambique, and has additional exploration interests across several African countries, focusing on responsible, large-scale gemstone production.

Through its proprietary grading system and auction platform, Gemfields has helped industrialise and formalise the coloured gemstone trade, particularly in emeralds and rubies. It backs this commercial model with investments in community development, conservation initiatives, and its charitable Gemfields Foundation, promoting transparency and positive socio-economic impact in host countries.

For a thorough assessment of PLLHF stock, go to TipRanks’ Stock Analysis page.