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Auction Results: Mixed-Quality Rubies
Gemfields Group Limited
Incorporated in Guernsey. Guernsey registration number: 47656
South African external company registration number: 2009/012636/10
Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
(“Gemfields” or the “Group” or the “Company”)
Auction Results: Mixed-Quality Rubies
LONDON, 19 OCTOBER 2026
Gemfields announces the results of an auction comprised of mixed-quality rough ruby held during
the period 5 – 16 October 2026.
Highlights – Mixed-Quality Ruby Auction – October 2026
- Total auction revenues of USD 52.0 million.
- 90 of the 99 lots offered for sale were sold (90.9%).
- 102,099 carats were offered for sale with 92,153 carats sold (90%).
- Average sales price of USD 564.54 per carat.
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented:
“The results achieved at this auction reflect robust demand across the range of sizes and qualities offered, with
particularly strong prices for larger, fine-quality rubies. This underscores the premium customers place on these
exceptionally rare and precious rubies.
At slightly over 20 kilograms, this Mixed-Quality auction was smaller than those held in previous years and
comprised predominantly higher-quality rubies. The lower volume reflects the year’s operational challenges and the
‘Trade Select’ auction strategy introduced in June, under which selected grades and categories are now offered
separately. This change in auction strategy gives customers a more focused offering while enabling MRM to align the
timing and composition of its auctions more closely with available production and market demand.
We greatly value our customers’ continued participation and constructive feedback as the auction system evolves. We
thank the MRM team for the considerable effort that contributed to this successful outcome and acknowledge the
valued support of our partner, Mwiriti.
We look forward to building on this outcome at the next Trade Select auction, planned for December.”
The gemstones were extracted in Mozambique by Montepuez Ruby Mining Limitada (“MRM”)
which is 75% owned by Gemfields and 25% by Mwiriti Limitada. The proceeds of this auction will
be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the
Republic of Mozambique being paid on the full sales prices achieved at the auction.
The auction lots were made available in Bangkok for private, in-person viewings by customers.
Following the viewings, the auctions took place via an online auction platform specifically adapted
for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed-
bid process.
The results of the five most recent Mixed-Quality MRM ruby auctions are summarised in the table
below (and earlier results are available at www.gemfieldsgroup.com):
AUCTION Jun ’24 Dec ’24 Jun ’25 Feb ’26 Oct ’26
RESULTS AUCTION AUCTION AUCTION AUCTION AUCTION
(MIXED (7 sequential (7 sequential (6 sequential (7 sequential (6 sequential
QUALITY) mini-auctions) mini-auctions) mini-auctions) mini-auctions) mini-auctions)
3 – 18 Jun 25 Nov – 11 2 – 13 Jun 9 – 20 Feb 5 – 16 Oct
Dates 2024 Dec 2024 2025 2026 2026
Bangkok / Bangkok / Bangkok / Bangkok / Bangkok /
Location Online Online Online Online Online
Carats 217,044 167,865 99,830 214,509 102,099
offered
Carats sold 216,600 143,613 68,705 189,620 92,153
No. of
companies 52 46 47 46 46
placing bids
No. of lots 97 102 90 135 99
offered
No. of lots 94 97 78 121 90
sold
Percentage of 97% 95% 87% 90% 91%
lots sold
Percentage of
lots sold by 99.8% 86% 69% 88% 90%
weight
Total sales USD 68.7 USD 46.2 USD 31.7 USD 53.0 USD 52.0
realised at million Million Million Million Million
auction
Average per USD USD USD USD USD
carat sales 316.95/carat 321.94/carat 461.48/carat 279.39/carat 564.54/carat
value
The specific auction mix and the quality of the lots offered at each auction vary in characteristics
such as size, colour and clarity on account of variations in mined production and market demand.
Therefore, the results of each auction are not always directly comparable.
-ENDS-
Further information on Gemfields Group Limited can be found at:
GEMFIELDSGROUP.COM
To join our investor mailing list, please contact us on:
ir@gemfields.com
This announcement contains inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) no. 596/2014 which forms part of domestic UK law pursuant to the European
Union (withdrawal) act 2018 ("MAR").
ENQUIRIES
GEMFIELDS David Lovett / Heinrich Richter
ir@gemfields.com
T: +44(0) 20 7518 3400
SPONSOR (JSE) Investec Bank Limited
NOMINATED ADVISER Panmure Liberum
(AIM) & BROKER Scott Mathieson / Amrit Mahbubani / John More
T: +44(0) 20 3100 2222
PRESS ENQUIRES, GEMFIELDS press@gemfields.com
HEAD OFFICE, LONDON T: +44(0) 20 7518 3400
NOTES TO EDITORS
About Gemfields Group Limited
Gemfields is a world-leading miner of coloured gemstones, dual-listed on the Johannesburg and
London AIM stock exchanges.
Gemfields is the operator and 75% owner of both Kagem Mining in Zambia (a world-leading
emerald mine) and Montepuez Ruby Mining in Mozambique (situated on one of the most
significant recently discovered ruby deposits in the world). In addition, Gemfields holds controlling
interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique and
Madagascar.
Gemfields has developed a proprietary grading system and a pioneering auction platform to
provide a consistent supply of coloured gemstones to downstream markets, a key component of
Gemfields’ business model that has played an important role in the growth of the global coloured
gemstone sector.
GEMFIELDS.COM | INVESTORS | FOUNDATION | INSTAGRAM | FACEBOOK | X | YOUTUBE
KAGEM MINING LINKEDIN | FACEBOOK
MONTEPUEZ RUBY MINING LINKEDIN | FACEBOOK
Date: 19/10/2026 08:00:00
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