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Ruby production in Mozambique fell 55% in the first quarter, year-on-year, to 252.6 thousand carats, due to problems in the largest national mine, according to budget execution data consulted this Wednesday by Lusa.
“[This] represents a low performance, situated at 8% in relation to the annual plan and a decrease in production in the order of 55% in relation to the same period last year,” the Ministry of Economy and Finance’s budget execution report from January to March reads.
Global ruby production in Mozambique had already fallen in 2023, to 2.7 million carats, against 4.2 million carats in 2022 and five million carats in 2021.
In the first three months of 2024, ruby production fell to 252,665 carats, against 567,463 carats in the same period of 2023.
“This was largely due to the low production levels at the largest producer, associated with damage to production equipment and recent attacks on its mine,” the report reads.
Montepuez Ruby Mining (MRM) in Cabo Delgado, northern Mozambique, the largest of its type in the country, has generated almost one billion euros since 2012, according to data released at the end of April by Gemfields, which owns 75% of the company.
According to the Gemfields report, which is aimed at “promoting greater transparency regarding the level of natural resource wealth shared with the governments of host countries, whether from the mining, oil, gas, timber or fishing sectors,” MRM had a total revenue of US$151.3 million in 2023.
Since Gemfields acquired 75% of MRM in February 2012, the year mining began, the mine has earned more than US$1,055 million (€982.7 million), and paid the Mozambican state US$257.4 million (€239.7 million).
Last year, MRM paid the Mozambican state US$53.2 million (€49.6 million) in royalties and taxes, according to the same report.
MRM is a Mozambican company that operates in the Montepuez ruby deposit, in the province of Cabo Delgado, north-eastern Mozambique. The concessioned area covers approximately 33,600 hectares.
“It is believed to be the most significant ruby deposit recently discovered in the world,” the company says, going on to claim to have created more than 1,500 jobs locally, 95% of them for Mozambicans, with 65% coming from Cabo Delgado.
MRM is 75% owned by Gemfields and 25% by Mwiriti Limitada, a Mozambican company.
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