Gemfields unearths rare ruby in Mozambique
Gemfields unearths rare ruby in Mozambique

Gemfields unearths rare ruby in Mozambique

British precious stones miner Gemfields said it has found a 40.23-carat rough ruby at its Montepuez deposit in Mozambique, and termed the find as “one of the most important rubies unearthed in recent times”. The miner said on Wednesday that the recent find had been appraised by the Gübelin Gem Lab in Switzerland, ahead of the company’s ruby auction in Singapore next month. “Although difficult to judge in the rough state, the transparency and colour of the crystal indicate an important gemstone might be cut from this piece of rough,” said Gübelin MD Daniel Nyfeler. Perfect Rubies are traditionally the most prized when they are a vivid crimson with a hint of blue. However, Mozambican rubies often are a rich pinkish-red colour due to the variation in deposits in the region. Among the world’s most famous rubies are the 100.32 carat Delong Star Ruby and the Hixon Ruby Crystal - a 196.10-carat stone that is touted to be one of the most perfect large ruby crystals in the world. Earlier this month, an 8.62 carat Burmese ruby was sold at a Sotheby’s auction at a record price of about US$8.57 million (N$94.3 million), or almost US$1 million (N$11 million) per carat. Gemfields owns a 75% stake in the Montepuez ruby deposit, and in June generated US$33.5 million (N$368.5 million) from its first auction of rough ruby and corundum from the deposit. Gemfields, the world’s largest rough emerald producer, has been trying to create a stable market for coloured stones - the same way Anglo American’s De Beers has championed diamonds from London’s Bond Street to China. LONDON NAMPA/REUTERS

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Namibian Sun 2024-03-28

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Katima Mulilo: 19° | 37° Rundu: 17° | 33° Eenhana: 18° | 33° Oshakati: 20° | 31° Ruacana: 19° | 33° Tsumeb: 17° | 29° Otjiwarongo: 16° | 28° Omaruru: 18° | 31° Windhoek: 17° | 28° Gobabis: 17° | 28° Henties Bay: 16° | 19° Wind speed: 24km/h, Wind direction: S, Low tide: 10:54, High tide: 04:57, Low Tide: 22:58, High tide: 17:16 Swakopmund: 15° | 17° Wind speed: 29km/h, Wind direction: SW, Low tide: 10:52, High tide: 04:55, Low Tide: 22:56, High tide: 17:14 Walvis Bay: 16° | 22° Wind speed: 33km/h, Wind direction: SW, Low tide: 10:52, High tide: 04:54, Low Tide: 22:56, High tide: 17:13 Rehoboth: 18° | 29° Mariental: 22° | 32° Keetmanshoop: 21° | 34° Aranos: 21° | 31° Lüderitz: 15° | 29° Ariamsvlei: 23° | 34° Oranjemund: 15° | 21° Luanda: 27° | 30° Gaborone: 20° | 32° Lubumbashi: 17° | 24° Mbabane: 15° | 23° Maseru: 12° | 28° Antananarivo: 16° | 27° Lilongwe: 17° | 29° Maputo: 20° | 28° Windhoek: 17° | 28° Cape Town: 17° | 23° Durban: 21° | 25° Johannesburg: 18° | 28° Dar es Salaam: 26° | 32° Lusaka: 18° | 30° Harare: 15° | 31° Currency: GBP to NAD 23.95 | EUR to NAD 20.51 | CNY to NAD 2.63 | USD to NAD 18.99 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.33 | EGP to NAD 0.39 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.74 | ZWL to NAD 0.04 | BRL to NAD 3.8 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 134.27 | USD to AOA 832.63 | USD to BWP 13.71 | USD to EGP 47.35 | USD to KES 130.98 | USD to NGN 1415.13 | USD to ZAR 18.99 | USD to ZMW 24.77 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 73909.5 Up +0.41% | Namibian Stock Exchange (NSX) Overall Index 1516.02 Down -0.13% | Casablanca Stock Exchange (CSE) MASI 12981.98 Up +0.34% | Egyptian Exchange (EGX) 30 Index 28224.37 Down -2.87% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - 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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 207.29/OZ UP +0.76% | Copper US$ 3.97/lb DOWN -0.0042 | Zinc US$ 2 447.40/T DOWN -0.37% | Brent Crude Oil US$ 86.98/BBP UP +0.68% | Platinum US$ 905.24/OZ UP +1.16%