Mozambique’s Ruby Production Surges, Approaching 4 Million Carats in 2024

Mozambique’s ruby production increased to nearly 4 million carats in 2024, up 46% from 2023. The government exceeded its production target within nine months, achieving over 3.1 million carats. Key contributors to the recovery included SLR Mining and intensified efforts at Montepuez Ruby Mining. Future expansions may enhance production and state revenues dramatically.

In recent developments, Mozambique’s ruby production has reached nearly 4 million carats, marking a significant increase of 46 percent from the previous year, as reported by the Portuguese news agency Lusa. The government surpassed its own 2024 production target of 3,080,895 carats within just nine months, achieving a total of 3,145,391 carats by the end of the third quarter. Although the first quarter experienced difficulties due to severe production shortages and declining export values, production surged significantly in the second quarter, contributing over half of the annual target.

The recovery in ruby production can be attributed largely to SLR Mining, which accounted for more than 70 percent of the output. Government documents acknowledge that, despite earlier challenges faced by Montepuez Ruby Mining (MRM) due to equipment issues and military instability, the intensive excavation efforts in three additional productive blocks by MRM alongside the full recovery of production by Moza Minerals played vital roles in the production increase.

Historically, Mozambique’s ruby production has seen a decline, with figures dropping from 5 million carats in 2021 to only 2.7 million in 2023. Ruby mining began in the 1990s, and the Montepuez Ruby Mine, formed in 2011, emerged as the world’s largest ruby supplier following the discovery of the Montepuez deposit in 2009. While MRM lost its leading position to SLR Mining last year, SLR’s advancements were bolstered by commissioning a second processing plant.

Looking ahead, MRM may reclaim its status as a top ruby producer, especially with Gemfields planning to open a second processing facility aimed at tripling production capacity from 200 tonnes per hour to 600 tonnes by late 2025. This expansion is anticipated to generate new employment opportunities and significantly boost state revenue. Since 2014, MRM has contributed approximately US$257.4 million in revenues to the local government, and in 2023, the company paid US$53.2 million in taxes and royalties while employing around 700 workers and contractors.

In summary, Mozambique’s ruby production has rebounded remarkably in 2024, achieving nearly 4 million carats despite past challenges. The recovery is notably linked to the significant contributions of SLR Mining and dedicated efforts by MRM. With ongoing expansions and improvements, the ruby mining sector is poised for further growth, reinforcing Mozambique’s position as a leading global ruby producer.

Original Source: macaonews.org