In 2024, Mozambique’s ruby production nears 4 million carats, a 46% increase from 2023. The government exceeded its target of over 3 million carats due to significant contributions from SLR Mining and Moza Minerals. MRM’s plans to enhance production capacity could further solidify its status in the global ruby market.
Mozambique’s ruby production saw a significant rise in 2024, reaching nearly 4 million carats, a 46% increase from the previous year, according to the Portuguese news agency Lusa. The government exceeded its target of 3,080,895 carats nine months into the year, achieving 3,145,391 carats by the end of Q3. This surge occurred despite initial production shortages and declining export values in Q1, where only 8% of the target was met.
The increase in production was primarily driven by SLR Mining, which produced over 70% of the rubies, and by the recovery of Moza Minerals. The second quarter contributed more than half of the yearly output, with continued strong performance in Q3 and Q4, ultimately totaling 3,946,506 carats. In contrast, ruby production in Mozambique had been on a decline from previous years.
As one of the world’s significant ruby producers alongside Myanmar and Thailand, Mozambique’s ruby mining began in the 1990s, with substantial developments occurring in 2011 with the establishment of the Montepuez Ruby Mine. Originally, the mine was the largest supplier of rubies globally, but SLR Mining surpassed it last year due to the opening of a new processing facility, enhancing production capabilities.
Looking ahead, MRM plans to regain its leading status with the opening of a second processing plant expected to triple its current capacity. This expansion is projected to boost revenue and job creation. Since 2014, MRM has significantly contributed to Mozambique’s economy, paying substantial royalties and taxes while employing hundreds of workers.
In summary, Mozambique’s ruby production has dramatically improved in 2024, surpassing previous output levels despite challenges. Key contributors to this resurgence include SLR Mining and Moza Minerals, along with anticipated infrastructure developments that promise to enhance production further. The country’s position as a leading ruby producer is strengthened by these advancements and the potential for increased contributions to the state’s finances.
Original Source: macaonews.org
