Mozambique’s ruby production fell by 35.6% in 2023, totaling 2.7 million carats. This figure was well below the target initially set, which was more than 7 million carats.
According to information released by the Ministry of Economy and Finance on Monday (11), the negative performance is directly related to the low production levels of the largest miner of this mineral, as well as technical problems with equipment and terrorist attacks in the region.
In the previous year, 2022, production was 4.2 million carats, and the year before that, the mark of 5 million carats was reached.
Gemfields, one of the main companies in the sector, announced in December that auctions of precious stones, especially rubies mined in Montepuez, in the province of Cabo Delgado, generated a total revenue of one billion dollars over nine years.
The rough rubies sold between November and December 2023 were mined by Montepuez Ruby Mining, a company 75% owned by Gemfields and 25% by Mozambican partner Mwiriti, reaching an average price of 290.02 dollars per carat.
Meanwhile, the Montepuez ruby mine is considered to be one of the world’s most significant recently discovered ruby deposits.
