Mozambique Ruby Mine Yields Large Find

The Montepuez Ruby Mining Project is a joint venture between the Mozambican government and international mining company, Gemfields. The mine, which began operation in 2012, has been producing high-quality rubies that are highly sought after by jewelers around the world.

The newly discovered ruby deposit is a significant find for the Montepuez Ruby Mining Project, as it is estimated to contain around 50% more rubies than the mine's previous discovery. The rubies are of a high-quality with vivid, bright red tones, making them highly desirable for use in jewelry.

This is great news for Mozambique's economy, as the ruby mining industry is becoming one of the country's largest sources of foreign investment. It is expected that the increased production from the Montepuez Ruby Mining Project will create more jobs and revenue for the country.

Gemfields CEO, Ian Harebottle, commented on the discovery stating, "This new discovery is yet another example of the exciting potential of Mozambique's rich mineral resources. We are proud to be working with the Mozambican government to help turn these resources into tangible benefits for the country and its people."