Ruby Auction Results
Gemfields Group Limited
Incorporated in Guernsey. Guernsey registration Number: 47656
South African external company registration number 2009/012636/10
Share code on JSE: GML / AIM: GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
(‘Gemfields’ or the ‘Company’)
Ruby Auction Results
LONDON, 21 JUNE 2023
Gemfields is pleased to announce the results of a ruby auction comprised of mixed-quality rough
rubies held during the period 5 – 20 June 2023.
Highlights: June 2023 Mixed-Quality Ruby Auction
• Total auction revenues of USD 80.4 million
• 91 of the 94 lots offered for sale were sold (97%)
• Average realised price of USD 265.99 per carat
• The 19 auctions of Montepuez Ruby Mining Limitada’s (“MRM”) gemstones held since
June 2014 have generated USD 978.5 million in total revenue
• One lot of 26.8kg (representing some 30% of the total weight offered) remained unsold.
As a result, the average price per carat realised at this auction was considerably higher than
it would have been had this lot also been sold.
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented:
“With the revenue from this auction up 20% since our last ruby auction in December 2022, today’s results echo the
significant rebound in market prices we reported just weeks ago for Zambian emeralds. The ruby market is clearly
firing on all twelve cylinders and the step-change in market pricing which we reported in 2022 is notably enhanced.
As always, we send our thanks and congratulations to our hard-working teams, our partners, our host governments
and of course our clients for their support.”
The auction lots were made available in Bangkok for private, in-person viewings by customers.
Following the viewings, the auctions took place via an online auction platform specifically adapted
for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed-
bid process.
The rough rubies were extracted by MRM (which is 75% owned by Gemfields and 25% by
Mozambican partner Mwiriti Limitada). The proceeds of this auction will be fully repatriated to
MRM in Mozambique, with all royalties due to the Government of the Republic of Mozambique
being paid on the full sales price achieved at the auction.
Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey
T +44 (0)1481 731 554
gemfieldsgroup.com
The results of the five most recent mixed-quality MRM ruby auctions are summarised in the table
below (and earlier results are available at www.gemfieldsgroup.com):
Apr ’21 Dec ’21 Jun ’22 Dec ’22 Jun ’23
AUCTION
AUCTION AUCTION AUCTION AUCTION AUCTION
RESULTS
(7 sequential (7 sequential (7 sequential (7 sequential (7 sequential
(MIXED
mini- mini- mini- mini- mini-
QUALITY)
auctions) auctions) auctions) auctions) auctions)
15 Mar – 8 Nov – 30 May – 21 Nov – 5 – 20 Jun
Dates
8 Apr 2021 9 Dec 2021 17 Jun 2022 8 Dec 2022 2023
Various/ Various / Bangkok / Bangkok / Bangkok /
Location
Online Online Online Online Online
Rough Ruby Rough Ruby Rough Ruby Rough Ruby Rough Ruby
(Higher, (Higher, (Higher, (Higher, (Higher,
Medium and Medium and Medium and Medium and Medium and
Type
Commercial Commercial Commercial Commercial Commercial
Quality), no Quality), no Quality), no Quality), no Quality), no
Corundum Corundum Corundum Corundum Corundum
Carats
726,610 681,013 610,135 525,246 446,202
offered
Carats sold 343,952 667,589 387,681 431,671 302,317
No. of
companies 52 49 49 44 51
placing bids
No. of lots
94 107 119 104 94
offered
No. of lots
89 104 112 98 91
sold
Percentage of
95% 97% 94% 94% 97%
lots sold
Percentage of
lots sold by *47% 98% 64% 82% **68%
weight
Total sales
USD 58.9 USD 88.4 USD 95.6 USD 66.8 USD 80.4
realised at
million million million million million
auction
Average per
USD USD USD USD USD
carat sales
171.33/carat 132.47/carat 246.69/carat 154.84/carat 265.99/carat
value
* One lot of 76,343 grams (representing some 53% of the total weight offered) remained unsold at the March/April 2021 auction. As a
result, the average price per carat realised at this auction was considerably higher than it would have been had this lot also been sold.
** One lot of 26,806 grams (representing some 30% of the total weight offered) remained unsold at the June 2023 auction. As a result, the
average price per carat realised at this auction was considerably higher than it would have been had this lot also been sold.
Gemfields Group Limited Page 2 of 4
The specific auction mix and the quality of the lots offered at each auction vary in characteristics
such as size, colour and clarity on account of variations in mined production and market demand.
Therefore the results of each auction are not always directly comparable.
-ENDS-
Further information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join our investor mailing list, contact us on:
[email protected]
For any press enquiries please contact us on:
[email protected]
This announcement contains inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) no. 596/2014 which forms part of domestic UK law pursuant to the European Union
(withdrawal) act 2018 (‘MAR’).
ENQUIRIES
GEMFIELDS Sean Gilbertson / David Lovett / Ian Hughes
[email protected]
T: +44(0) 20 7518 3400
SPONSOR (JSE) Investec Bank Limited
NOMINATED ADVISER finnCap
(AIM) & JOINT BROKER Christopher Raggett / Tim Redfern / Edward Whiley
T: +44(0) 20 7220 0500
JOINT BROKER Liberum
Scott Mathieson / Kane Collings
Gemfields Group Limited T: +44(0) 20 3100 2222
FINANCIAL PR / IR Camarco
Gordon Poole / Emily Hall
T: +44(0) 20 3757 4980
ADDITIONAL INFORMATION ON GEMFIELDS
Gemfields is a world-leading responsible miner and marketer of coloured gemstones. Gemfields is
the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the
world’s single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one
of the most significant recently-discovered ruby deposits in the world). In addition, Gemfields also
holds controlling interests in various other gemstone mining and prospecting licences in Zambia,
Mozambique, Ethiopia and Madagascar.
Gemfields’ outright ownership of Fabergé – an iconic and prestigious brand of exceptional heritage
– enables Gemfields to optimise positioning, perception and consumer awareness of coloured
gemstones through Fabergé designs, advancing the wider group’s “mine and market” vision.
Gemfields has developed a proprietary grading system and a pioneering auction and trading
platform to provide a consistent supply of coloured gemstones to downstream markets, a key
component of Gemfields’ business model that has played an important role in the growth of the
global coloured gemstone sector.
GEMFIELDS
GEMFIELDS.COM | INVESTORS |FOUNDATION
INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE
FABERGÉ
FABERGÉ.COM | INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE
KAGEM MINING LINKEDIN
MONTEPUEZ RUBY MINING LINKEDIN
Gemfields Group Limited
Date: 21-06-2023 08:00:00
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