[miningmx.com] – GEMFIELDS CEO, Ian Harebottle, said he planned to achieve the same uplift in the price of rubies as the UK-listed company achieved in the emerald industry where the company has amassed a 20% market share.
In an interview with Bloomberg News, Harebottle said: “With rubies there is a fairly healthy uplift potential. Over the next couple of years we should be able to double’ prices”. Shares in Gemfields have improved 11-fold since Harebottle took over management of the company in 2009.
“We expect Gemfields to repeat with rubies the success it achieved by imposing order on emerald prices,’ Investec Plc said. “The Montepuez ruby mine will rank among the best discoveries in Africa in decades.’
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