Mozambique Ruby Mining generates more than US$70 million in revenue

Login

Register

http://www.clubofmozambique.com/

Mozambique Ruby Mining generates more than US$70 million in revenue

3:49 CAT | 06 Sep 2016

The Montepuez Ruby Mining company (MRM) generated US474 million (€66 million) in export revenues in 2015, the company announced yesterday in a statement.

MRM, of which British multinational Gemfields owns a 75 percent share, also consolidated its position as the largest taxpayer in Cabo Delgado province, northern Mozambique, and is the second-largest mining sector exporter in the country, the statement notes.

Since it began operations in 2012, Montepuez Ruby Mining has generated US$196 million (€ 175 million) in export earnings, and has held six international auctions of rubies mined in Cabo Delgado.

Source: AIM