Maputo, Aug. 3, 2026 (Lusa) - Revenue from Montepuez Ruby Mining (MRM)'s Mozambican ruby auctions rose by 95.6% year-on-year to €66.8 million by June, whilst yields of high-quality stones remained limited, Gemfields announced.
In its half-yearly operational report, to which Lusa had access, the concessionaire states that this mine remains the Gemfields group's main source of revenue, through the sale of rubies extracted from the Montepuez mine in Cabo Delgado province at international auctions.
Auctions held up to 30 June 2025 generated $76.1 million (€66.8 million), compared with $38.9 million (€34.2 million) in the same period of 2025. According to Gemfields, cumulative sales of MRM rubies now total $1.276 billion (€1.12 billion), derived from 30 auctions held since the mine's production first went on sale in 2012.
The operational update also indicates cumulative production of 30,408 carats of premium rubies up to 30 June, as well as 168,886 carats of ‘tumble rubies'.
Despite the growth in revenue, Gemfields notes that MRM «continued to record a low yield of premium-quality rubies», at 0.025 carats per tonne in the first half of the year, but that it was continuing to explore areas where it expects to find a higher concentration of high-quality stones.
According to the mining company, the second ore processing plant, which has since been completed, made a significant contribution to production in the first half of the year and is expected to be formally deemed fully operational later in 2026.
In a previous announcement, Gemfields confirmed that, at the end of June, insurgent groups had launched several attacks since late April on villages near the MRM ruby mine, leading to the temporary suspension of operations.
«They were similar to the attacks observed in other parts of Cabo Delgado province,» the company stated at the time in a press release regarding MRM's operations, acknowledging that output was below expectations due to lower grades of the rubies recovered.
The company emphasised that the operation's risks include not only insurgent activity, but also «threats arising from local criminal activity, the presence of illegal ruby mining syndicates, and broader destabilising factors in the region, including difficulties in properly enforcing the rule of law».
Despite the incidents, Gemfields stated that «conditions had improved moderately» in the preceding weeks and that operational activity had returned to a state of relative normality, whilst remaining under constant monitoring.
The mining company also highlighted the need to address high levels of illegal mining within the concession, estimating that around 700 people enter the mining area every day. It added that these intrusions pose «a considerable risk to the safety of staff, contractors and community members», as well as contributing to the degradation of ruby resources and a reduction in the mine's recovery rates.
Montepuez Ruby Mining, one of the world's largest ruby producers, is 75% owned by Gemfields and 25% by the Mozambican company Mwiriti.
PVJ/ADB // ADB.
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