See More Red in 2015
The biggest ruby discovery of the 21st century is here on our continent – in Mozambique. While the public is largely unaware of Mozambique as a source for rubies, the deposit near Montepuez is considered by the trade to be the largest ruby supplier in the world. Mozambique’s first ruby auction took place in Singapore (July 2014) and brought in a grand total of $34 million US dollar.
Regarding quality, a small but significant proportion of the material is gem quality that requires no heat treatment. While there are some exceptionally large stones, most of the unheated faceted rubies are less than 3 carats. Source: GIA (Gemological Institute of America)