The rubies from Namanhumbir, an Administrative Post in the district of Montepuez, province of Cabo Delgado have already earned $159.7 million in royalties and taxes to the Mozambican state, since the start of its operations in 2012.

According to the data that Carta had access to, through the company Montepuez Ruby Mining (MRM), subsidiary of the British giant Gemfields (75% of the shares) 66.1 million dollars are derived from the payment of royalties and $93.6 million results from tax payments.

The Letter, citing company sources, also avers that the figures, it should be noted, do not include the results of the last gemstone auction, held in Bangkok, Thailand, where the company reported a historic result of $95.6 million. MRM, remember, has held 16 auctions, which generated $827.1 million.

According to MRM, the amount ($159.7 million) corresponds to 22% of the revenues produced by the company since it began operations, so "it has been recognized as the number one contributor in Cabo Delgado province in each year between 2014 and 2019." The company also stresses that its contributions represent 94% of all collective monetary inflows of emeralds, rubies and sapphires from Mozambique from January 2011 to December 2021.

"Gemfields is not aware of any colored gemstone project in human history that has delivered more value in absolute terms, or as a large proportion of the true value of the resources (whether in the form of revenue or taxes) to the host nation, as MRM has done," he argues.

It should be noted that the explored and evaluated areas of MRM's open-pit mine have a useful life of 13 years, until 2034, an evaluation made periodically, based on geological information.

Source: Carta