Revenues from sales of Mozambican rubies totaled 63 million dollars, which represents an annual drop of around 56%, equivalent to 81 million dollars.

The data contained in the quarterly Balance of Payments (BoP) bulletin, released by the Bank of Mozambique (BdM), which the MZNews had access to, noting that in the same period in 2023, the volume of ruby sales was set at 144 million dollars.

According to the BdM report, "this decrease was the result of low production levels, associated with the instability caused by terrorism in northern Mozambique".

Montepuez Ruby Mining (MRM), owned 75% by Gemfields and Gemrock are the main ruby mining companies in Cabo Delgado province.

(Photo DR)