Gemfields Group Limited reported total revenues of $ 53 million from its mixed-quality rough ruby auction held between 9 and 20 February 2026 in Bangkok and via an online auction platform.

The auction saw strong participation, with 121 of 135 lots sold, representing a 90% sell-through rate. Of the 214,509 carats offered, 189,620 carats were sold, achieving an average price of $ 279 per carat.

The rubies were sourced from Montepuez Ruby Mining Limitada (MRM) in Mozambique, which is 75% owned by Gemfields. Auction proceeds will be repatriated to MRM, with royalties paid to the Government of Mozambique based on the full sales value.

According to Gemfields, the auction included material from MRM’s second processing plant for the first time, highlighting its early contribution ahead of full commissioning. The plant is expected to significantly increase processing capacity and support a consistent supply to global markets.

Gemfields noted that fine-quality rubies continued to perform strongly, while demand for certain qualities was comparatively softer due to additional supply from informal mining and weaker demand from China.

Customers participated through private viewings in Bangkok, followed by sealed bids submitted via Gemfields’ digital auction platform, reflecting the continued evolution of transparent and structured coloured gemstone trading.

The results underscore steady global demand for Mozambique rubies and Gemfields’ ongoing role in supplying responsibly mined coloured gemstones to international jewellery manufacturers and retailers.