GJ Town India

Gemfields auction sales 962,211 carats Mozambican ruby fetches USD 51.99 per carat Gemfields announces the results of an auction of rough rubies in Singapore from 11 – 15 June 2019 & says, Ruby Auction had consisted of the 90 lots which were offered and 84 lots were sold that is equal to 93% with an Average price of USD 51.99 per carat. All together, the auction of rough rubies that 962,211 carats sold out of the 978,197 carats were offered shows an effective result 98% and that auction revenues being fetches of USD 50.0 million. One lot set a new all-time price-per-carat record for any Gemfields auction; and the twelve Gemfields auctions of MRM rubies held since June 2014 have generated USD 512.6 million in aggregate revenues. Gemfields’ twelfth auction of rough rubies from Montepuez saw 48 companies placing bids. The auction offered high, medium and commercial grade rough rubies, exclusively in untreated form. The consistency of supply and the reliability of ...

US$345K industry training initiative When Nicholas Simukoko and Sonny Kanyinji enrolled at the University of Zambia and Copperbelt University respectively, they had dreams of completing their studies, working in the mining industry and improving their families’ lives. While they were exceptional students, both men faced financial hardships that threatened to cut their studies short and derail any hopes they had of providing a better life for their families. “It was hard for me to concentrate at school because it was difficult to raise my school fees. I could not study peacefully,” said Mr Simukoko, who was being supported by his single parent mother and was not on the government bursary programme. Mr Kanyinji faced a similar struggle. But they did not give up, and despite all the hardships they faced, they concentrated on their studies and excelled at their schoolwork. Their hard work paid off when they were selected to benefit from Kagem Mining’s US$345,000 industry...