Nacala ruby auction transforms Mozambique gemstone trade

Mozambique has hosted its very first domestic ruby auction, marking a major milestone for the nation’s mining sector. The historic Nacala ruby auction took place during the eighth edition of the Nampula Annual Gem Fair, signalling a deliberate shift away from traditional international markets, according to local media reports.

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Traditionally, precious stones from the region have been sold exclusively through overseas auctions. However, this pioneering initiative enables domestic businesses to access locally produced gemstones directly, bypassing international middlemen and auctions held abroad.

Details of the Nacala ruby auction

The bidding competition centered on a total of 30 kilograms of rubies. Twelve companies initially assessed the available minerals, though only four ultimately submitted formal bids. Zambrock Mining Exploration emerged as the victor of the Nacala ruby auction, securing the lots with a winning bid announced at US$214,498.

During the official presentation of results, Castro Elias, executive secretary of the Kimberley Process Management Unit, detailed the competing financial offers. Fenox, a Hong Kong firm, submitted an offer, as did Zamb Project Mining and Exchange and two Nampula-based companies.

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Mozambique is one of the main producers of rubies in the world, along with Myanmar, Thailand and Vietnam. Ruby mining is relatively new in the country, beginning in the 1990s, although rubies have been detected as far back as the 1500s.

The Montepuez Ruby Mine formed in 2011 to exploit the Montepuez ruby deposit, discovered in 2009, and quickly became the world’s largest supplier of rubies, kicking off industrial ruby mining in Mozambique.