Skip to primary navigationSkip to main contentSkip to footer
  • SearchToggle Search Menu
Rasmussen Diamonds logo
  • AccountToggle My Account Menu
    Forgot Password?

    Don't have an account? Sign up now

  • WishlistToggle My Wishlist

    You have no items in your wish list.

    Browse
  • My BagToggle Shopping Cart Menu

    You have no items in your cart.

    Browse
  • Engagement Rings
  • Wedding Bands
  • Jewelry
    Rings
    Rings
    Bracelets
    Bracelets
    Necklaces & Pendants
    Necklaces & Pendants
    Earrings
    Earrings
    Watches
    Watches

    Explore All Jewelry
  • Education
  • Our Store
    Staff
    Staff
    History
    History
    Services
    Services
    Our Blog
    Our Blog

    Explore All Our Store
  • Contact
  1. Home
  2. Blog
  3. Exceptional Pair of Mozambican Rubies Headlines Gemfields' Auction

Exceptional Pair of Mozambican Rubies Headlines Gemfields' Auction

Published: Jun 23, 2022
Exceptional Pair of Mozambican Rubies Headlines Gemfields' Auction
Author: 
Howard Cohen

An exceptional pair of Mozambican rubies — one weighing 32.5 carats and the other 29 carats — headlined Gemfields' most recent series of ruby auctions in Bangkok. Each ruby is expected to surpass 10 carats when cut and polished.

Exhibiting a vivid red hue and remarkable crystalline luster, the featured rubies represent the finest production from Montepuez, the most prolific ruby mine in the world.

More specifically, the sizable rough gems were sourced at the Mugloto mining pit, a secondary deposit at the Montepuez mine, where rubies have been concentrated by alluvial flows along ancient paleochannels. Gemfields explained that the stones found in Mugloto secondary deposit are often the most exceptional because they had to survive the arduous journey along the ancient riverbed.

Among the world-famous rubies found at Mugloto are the 45-carat total weight matched pair of vivid red gems called the "Eyes of the Dragon" (2015) and the 40.23-carat "Rhino Ruby" (2014).

Overall, Gemfields reported that the $95.6 million generated during seven mini-auctions held between May 30 and June 17 represented "an all-time high for any Gemfields auction." The company sold 94.1% of the 119 lots offered, with 49 companies participating in the sealed-bid process.

A portion of the proceeds arising from the sale will be donated to the Quirimbas National Park in Mozambique, a long-standing Gemfields conservation partner.

The Montepuez ruby mine is 75% owned by Gemfields and 25% by Mozambican partner Mwiriti Limitada. Gemfields also operates Kagem, the world’s largest and most productive emerald mine. Kagem is 75% owned by Gemfields and 25% by the Government of the Republic of Zambia.

Credits: Images courtesy of Gemfields.

Categories
Latest Articles
Read Article: Jewelry Through the Ages
Jewelry Through the Ages
Read Article
Read Article: A Guy's Guide to Last Minute Gift Buying
A Guy's Guide to Last Minute Gift Buying
Read Article
Read Article: Winter Style Watch
Winter Style Watch
Read Article
Read Article: Why Shop Small?
Why Shop Small?
Read Article
Read Article: Capturing Brilliance
Capturing Brilliance
Read Article
See more
  • Previous Article
  • Next Article
Rasmussen Diamonds
Rasmussen Diamonds
6220 Washington Ave
Mount Pleasant, WI 53406
(262) 884-9474
1(866) 586-9474
Store Information
Store Hours
Mon - Fri:10:00am - 7:00pm
Saturday:10:00am - 4:00pm
Sunday:Closed
Policies
  • Privacy Policy
  • Return Policy
  • Best of Racine County 2023
  • The Knot

© 2025 Rasmussen Diamonds. All Rights Reserved. Website designed, maintained, and hosted by Punchmark. Accessibility Statement.

Learn how we use cookies in our Privacy Policy or manage cookie preferences.