Mongtepuez Ruby Mining to double process capacity – AIM

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Mongtepuez Ruby Mining to double process capacity – AIM

9:18 CAT | 15 Mar 2022

File photo: Gemfields

Montepuez Ruby Mining (MRM), the company that operates what is believed to the world’s largest deposit of rubies, in Montepuez district, in the northern province of Cabo Delgado, plans to double its operations with the installation of a second processing plant and fuel storage facility, budgeted at 59.6 million US dollars

This operation, according to an MRM Monday press release, was preceded by a public consultation on the proposal to increase capacity. This complied with a legal requirement, but also served as an opportunity to understand the opinions of the main parties interested in the project.

“This project will have a significant impact both on the company and on the country”, said the release.

“Once concluded, the new treatment station proposed should increase production substantially, as well as the basis for the company’s income”, said the note, citing the deputy managing director of MRM, Claudius Nhongonhema.

According to Nhongonhema, the increase in the company’s capacity, will lead to an increase in the production tax and in the royalties paid to the Mozambican government. This investment will also create 400 new jobs, helping to reduce the level of unemployment in the nearby communities.

MRM’s current installed capacity is 200 tonnes an hour and when the new facility is installed, this will rise to more than 400 tonnes an hour. The current fuel storage capacity is 130,000 litres which will now rise to 300,000 litres.

It is expected that work in the ground to install the new equipment will begin in June.

Source: AIM